- DO NOT bet when you are drunk.
- Steer clear when you are angry
- Money Management
- DO NOT use a credit card for gambling/betting
- Go home after losses, don’t chase your losses
- Avoid Revenge Betting
- DO NOT bet or gamble to escape boredom
- DO NOT think of gambling as a means to make money
- Setting a Time Limit
- Understanding the need to STOP
DO NOT bet when you are drunk
I personally met a doctor who suggested that we get loads of false confidence once we are drunk. We all know how drunk driving can cause accidents when we miscalculate the distance. Our brain cannot function in a normal way when our nervous system is under the influence of alcohol, needless to say this applies to betting too. Betting requires balanced mind and loads of common sense which becomes absent when we are tanked till the hilt. On top of this our risk appetite flies through the roof when we are drunk.
Steer CLEAR when you are ANGRY
Anger takes control of our impulses and renders our action in undesirable consequences. Imagine a player makes you mad and your temper starts to the the best of you. You make a bad move or poorly bluff the player in the next hand just because your tolerance level for losing is way below the ground, you may end up losing huge amounts of money. Losing this additional money makes you even more mad, and you start taking unnecessary decisions and the cycle continues and before you know it, you have burnt through all the money you had on the table and all the money you had in your wallet just because of you not being able to stay calm during the game. All that said, I would like to mention a safe online casino site by the name NetBet Casino. Its safe, secure and I have good time there.
The most important decision you have to make BEFORE getting into gambling is that the money you’re about to use is meant for recreational purposes only. Never play with money meant for mortgage, bills etc.
Once you have decided that you have appreciably more amount of money than the money needed to cover your basic lifestyle needs, you also need to understand the importance of money WHILE gambling. Never bet more money than the amount you can AFFORD to lose. Consider having $1,000 to lose, make sure to bet the money in small amounts. Maybe not more than $100 in every go. Nothing is more worse than being in debt so having a winning goal and losing limit is a must and both limits are to be respected equally.
DO NOT use a credit card for Gambling or Betting
While this can be a very tempting approach to Gambling, we need to understand why this is not supposed to be the most sensible one.
Sometimes the easy access to borrowed funds prevents the gambler from seeing the amount of money they may have already spent and they may end up spending money way above their budget.
Go HOME after a loss, don’t chase your losses
Usually a person, when loses a huge amount of money, tends to lose the sane state of mind and ends up trying to win all the money back in one go by using up necessary funds which weren’t meant to be used in the first place. This causes the person to fall behind on their rents and bills. Hence the safest ‘bet’ after betting the money and losing is to go to the casino host, withdraw any amount of money you are left with and GO HOME. This does not mean you’ve completely lost your confidence, but it is the write thing to do. This will avoid you from spending the ‘necessary money’ and will keep you from spending excess amount of money even in future when you decide to gamble.
Avoid Revenge Betting
While ‘Revenge Betting’ in itself sounds intimidating, it sure does have a lot of miserable outcomes. For instance, it is often not planned out properly, compared to the bet you lost, hence it can be of no good use. Usually the revenge bet is a larger bet than the first one because in the mind of a gambler, is this thought of winning all the money they lost in the previous bet, all in one go, which again if unplanned can go in the completely opposite direction.
Ask Yourself, what caused you to make a ‘Revenge Bet’. A good way to gamble is to always assume your bet to be the losing one. This way if you do lose, you will be in the right mindset to make another well planned bet.
DO NOT bet or gamble to escape boredom
Boredom can lead to a lot of wrong decisions, as it is rightly said that, ‘The opposite of happiness is not sadness, it is boredom.’. Gambling either isn’t something to be done in order to get rid of boredom, as it can lead to adverse personal and social consequences. To avoid being a victim to this urge, the person should plan ahead in time to avoid boredom. Getting involved in something different or creative is also a way to trick your brain into resisting the urge to gamble.
DO NOT think of gambling as a means to make money.
Understand the fact that, the gambling centers are supposed to be making money, it is not meant to work the other way around, hence quite a lot of times it is suggested not to gamble if you’re low on a budget. Gambling has always meant to be a recreational activity. Mostly the people who have used gambling as a means to earn money have been lead into major debts that they haven’t been able to repay almost their whole life. The other day, I was lucky enough to make some money from sports betting site called NetBet It was safe and I had my share of fun.
Setting a Time Limit
People usually get so involved in the highs and lows of gambling they tend to lose track of time. This leads to excessive spending of money and sometimes the ‘urge’ to win back the money that was lost previously which further leads to more problems. Setting a Time Limit can prove to be very important. If you have an expenditure limit on top of a Time Limit, you can never be harmed by the ill effects of gambling. According to a research, it shows the people who tend to spend more than the usual amount of time on gambling tend to lose more than win.
Understanding the need to STOP
Sometimes people forget that while gambling can be full of highs and lows, it is important to know when to stop. Even though you might be winning or you might be losing, having a spending limit always goes a long way.