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Responsible Gaming

 

Betting on sports can be an exciting and rewarding hobby. However, as is the case with most pleasures in life, it is advisable to pursue this hobby in moderation, and to know your limits.

Here are some simple guidelines to follow when betting on sports:

Bet within your means

Before you start betting, take time to figure out how much you want to bet every month. If you keep a budget, include sports betting as a luxury or entertainment expense and decide in advance how much you are willing to spend.

Once you have set your limit, register with a sportsbook and set a daily and weekly deposit limit. Once this limit has been set it takes a week to change, which means you’ll never be able to deposit more than you originally intended.

Don’t chase your losses

If you’ve made a loss in a betting market, don’t spend the remainder of your balance in trying to win your losses back. The end result of this behaviour is usually greater losses and increased frustration.

Instead of immediately placing another bet, take time out, try to figure out where you went wrong, and reconsider your strategy. Given time you’ll feel more rational and composed, and will be more capable of making good, rational selections.

Hold on to your winnings

The only thing worse than chasing losses is squandering your winnings. Set a percentage to the profit that you win every time you place a winning bet, and withdraw this money from your betting account when your account shows a profit.

Having a large balance in your account can create a strong temptation to place bets at bigger stakes, particularly when you’re on a winning streak. If you think you’re in top form, place small stakes bets on accumulators and see how your luck holds up.

Stay in control

If you’re spending more money than you originally intended, it may be worthwhile taking time out to consider whether you are really in control. If gambling is causing unwelcome changes to your lifestyle, relationships or financial well being, chances are you need to take a break and reassess your priorities. All sportsbooks offer members the opportunity to exclude themselves from their accounts for set periods of time.

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