How to Bet Responsibly and Set Betting Limits

Although I wrote this article with a beginner punter in mind, all the points explained here can also benefit the most seasoned gambler. More specifically, I will guide you on how to bet responsibly and set betting limits by giving you some great tips that will make betting fun rather than a losing money activity.

It can be challenging for newcomers to understand sports betting, despite it being an exciting, interesting, and frequently dangerous endeavour. This is also true in many other areas of life, like when you’re scared or confused by something unfamiliar.

What is responsible gambling?

First of all, I will explain to you what responsible gambling is.

For many punters, sports betting became a serious problem that led to a powerful and difficult-to-overcome addiction. If you get to the bottom of the pit, you need professional help to get your head above the water. Yes, that’s how serious it is and SoccerNews by no means aims to promote such behaviour. Moreso, we’re firmly dedicated to promoting responsible gambling!

This involves several measures you need to take that I will break down further by compiling a guide to help you be more responsible when you bet. Also reading articles about the psychology of betting is a good starting point.

Bet only at authorized and licensed bookies

It is essential to bet only with authorized bookmakers. This is because they are forced by the law to help you to bet more responsibly, through the measures imposed in this regard. The Gaming Commission forces bookmakers worldwide to implement measures that will help bettors be more responsible.

Before opening a new betting account, check the bookmaker’s operating license. Furthermore, navigate their website and see if the bookie has partnered with various organizations that support freely addictive gamblers. Some of the best are BeGambleAware, GamCare and GamStop. These organizations offer free of charge counselling regarding betting addiction.

Also, check a few reviews about the bookie you intend to open an account with, to see if they refused payouts or closed punter’s accounts without any valid reason. That will indicate the bookie will not treat you fairly, so you better avoid this type of gambling company that sometimes can be a betting scam.

Set up an affordable betting budget

Equally important is to think about a budget for your sports betting activity. Bet only the money you can afford to lose!  Losing your betting budget should not cause nerves, heart palpitations, stress or frustration, but should be regarded objectively. More so, learning how to manage your bankroll will make a significant difference in the long run.

Being responsible when betting involves gambling using affordable amounts of money, which you will not regret very much if you lose. Of course, nobody likes to lose money, but losing a bet shouldn’t be seen as the end of your world. Think about it as losing a game of chess, darts or any other game against your friend, with no money involved. Although this is easier said than done, I will give you the best tip on how to set up your betting budget.

Use the money you would have spent on something else to place a wager. For instance, use that money to place a wager rather than go out to dine. If you lose, it will be like missing a supper at a restaurant rather than losing the wager. Additionally, if you repeatedly lose, you will give up betting without worrying about missing a few steaks, as opposed to going through a mental breakdown that might quickly turn into an addiction.

However, you have to be very disciplined to adhere to this tip!

Do a pre-match analysis before placing a bet

Never rely on luck in betting! Gather as much information regarding the event you want to bet on. By doing this, you are sure to make an informed betting decision based on actual data rather than relying on your feelings. Also, you can select the bets with the highest odds of success by gaining as much knowledge about the sport and the team you wish to wager on.

Don’t wager money on bookings or corners if you don’t have any knowledge of them. Better start with more simple bets like over/under 2.5 or HT-FT.

Even more important is to use a betting strategy to calculate precisely every stake for each bet. This way you will have a clear idea of how much money to wager each time you place a bet. Once you gain more knowledge you can take a further step by developing a personalized betting strategy.

Bet only when you are focused

When you’re anxious, agitated, exhausted, or even under the influence of intoxicating substances, don’t bet. This is because you are considerably less focused during these moments, thus your wagers will be made more on instinct than on reasoning and supporting evidence.

Since we are discussing the use of your hard-earned money, I advise you to place a wager only when you are feeling confident and focused. Making wise selections you won’t regret later can only be accomplished in this manner.

Learn how to lose and don’t chase loses

Maybe this is where most gamblers suffer. They can’t accept losing a few bets and will eventually deplete their entire bankroll by chasing the loss. Keep this in mind! Recovering your losses is virtually impossible, and attempting to do so will cause further issues. Is this something you want? Most likely not. So just quit trying to get your losses back. In this manner, you’ll be able to escape losing more money and being caught up in a vicious loop.

Use betting time wisely

Time can be your friend or your enemy when it comes to betting. Everything is up to you. Time will probably turn against you if you spend hours wagering. This will result in losing more money than you want to. Additionally, your ability to focus will decrease as time passes. This became a serious problem with the introduction of in-play betting.

That’s why many bookies will warn you with an on-screen popup message of your time spent in the betting app. You should be aware of this feature and handle it properly. Some of the best ways to do that is through the betting account:

• setting up a daily time limit you can access the betting account
• self-exclusion if you are on a longer losing streak
• requesting a break, when you need to reassess your betting strategy

Use your phone’s alarm if the betting agency you are using does not provide these choices. It will function equally well. Maintain discipline, keep focused and take breaks.