Responsible Gambling: What is It?

Introduction: Responsible Gambling

“Responsible gambling” has been a buzz-phrase used everywhere across all media over the last couple of years. This comes in part with the greater recognition that maybe having children gambling or people gambling away their family inheritance, needs to be taken more seriously than before. But we’re going to look at this through the eyes of a moralist, as opposed to a lawyer.

Responsible Gambling: Gambling Morals

So…should school children are allowed to gamble? How about old people, who might not be in full control of all their faculties? Or someone living on governmental handouts as they are below the poverty level? Essentially all these examples boil down to oversight, either from governments or at the individual level. What we’re going to do here with this article is to try and measure up the differences between responsible and irresponsible gambling. We want to provide you with the correct thinking and tools to know the difference for your own well being.

Responsible Gamblers Only Gamble With Money They Can Afford to Lose

Oft repeated advice and for a good reason. If you can’t afford to lose it, then you should bet with it. Seems plausible and correct. Let’s invent three gambling brothers, Joe, Bobby, and Billy, to illustrate our point here.

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The Responsible gambler

Say hello to Joe. Joe loves playing jackpot poker. So, in order to do so, he saves 10% of his paycheck each month in order to build up a bankroll. As he earns $30,000 a year, he now has $3,000 to play with. After another year, he has saved an extra $3,000 and he managed to win $6,000 from his playing last year. So now Joe has a bankroll of $12,000. This bumps him up to a higher level of stakes. This helps him increase his earn rate. As time passes, both his earnings and his bankroll continue to grow. Responsible gambling is not just about how you play. It’s about the time, effort, and discipline needed if you want to be an advantage player.

The Regular Gambler

Now say hello to Bobby, Joe’s younger brother. He makes the same $30,000 a year. But his game of choice is blackjack. This is a “negative expectation” game. He doesn’t bother saving up for his bankroll but spends the same $120 each week he goes to the casino. At the end of a year, calculating profit and loss leads to a grand total of a loss of $120. Though it could be argued that Bobby is less responsible than his old brother, at least he gambles within his means. The family is not going without anything. It’s like he’s just spending money on a hobby.

The Irresponsible Gambler

Don’t bother saying hello to Billy. He’s an idiot and an insufferable know it all. He likes to gamble on the slot machines. The amount he gambles will depend on things like his mood or how much he drinks. Yes, there are weeks when he does win a little. But we’re talking jackpot slots here, not any games of skill. As soon as he wins something, he shoves it right back into the slot. He’s always late with the rent and now has to take a roommate as he’s losing a lot more than he should be.

So, with these three examples, you’ll see how responsibility or rather lack of it, can play an important factor in how your gambling weekends.

How To Define Problem Gambling

A responsible gambler knows how to combine fun with an understanding of the risk involved. They are not fools and understand that the vast majority of gamblers lose most of the time. It’s the same story whether for a lottery, slot machines, or sports betting. A responsible gambler will make sure his family and personal needs and wants are taken care of before embarking with gambling. They tend to have more empathy and are more than willing to share their gambling stories. There’s nothing hidden. Often it’s the complete opposite of a problem gambler, where their gambling habits are hidden from view. Often until it’s too late. often they let their gambling start to take a toll on their health as well as financial well-being.

Responsible Gambling: Mental Well-being

Then there’s the mental side of the equation. Many think that you can actually make a living from gambling or at least make some profit. But only a cursory glance at the books of any gambling company will tell you the exact opposite. Virtually all gamblers will lose more than they win. It’s not a secret. And keep in mind that those lucky or skilled enough to be winnings are only so thanks to those losers who lose. Then we come to the idea that one last wager will turn around the ship of losses. That there’s one big jackpot just around the corner that’ll solve all your financial problems.

Responsible Gambler’s Common Sense Rules

As you must be well aware, here at Jackpotfinder we whole-heartedly support gambling, in all its forms. But, that is only responsible for gambling. Let’s have a look at our basic gambling rules for a good time at the casino or sports bookmaker.

1 – Responsible Gamblers Never Gamble Money They Can’t Afford to Lose

We’ve said it once, and we’ll keep saying it. This most bleeding obvious statement still needs to be broadcast on a regular basis. You have to be realistic if you want to increase your jackpot winning chances. Remember that the whole industry is geared towards losers. Look, for every $1000 won in a slot machine, other players needed to lose at least $1,100. It’s the same story for a sports bettor. He wins $1,000 simply means that other gamblers lost at least $1,100. If you’re winning at poker, the other players must also lose money, along with what the house rake is. It’s a crying shame that most gamblers can’t see this side of the equation.

2 – Responsible Gamblers Don’t Chase Losses

So what exactly is “chasing losses”? Simply put, you keep gambling after a row of losses. You have the hare-brained idea that you “win back” the money already lost. This is known as the gambler’s fallacy. It’s the idea of universal balance, that luck will even things out in the end and over a period of time. The idea that if you’ve already lost x number of times in a row, then you’re somehow “due” a win. The odds don’t change based on previous outcomes. They simply re-set. Imagine a ball lands on the red in roulette, 99 times in a row. Will it, therefore, land on the red again. Nope, there’s still the same 47.37% chance it will. Every spin of the roulette wheel is an independent act. It’s unaffected by the previous spins.

3 – Responsible Gamblers Set Gambling Loss Limits and Time Limits

It’s difficult to talk about responsible gamblers without talking about the responsibility of the casinos themselves. Do they encourage customers to play whilst drunk? We all know the answer to that one. How about more subtle things like a lack of clocks or windows so that you’ve no idea just how much time has passed. Casinos are actively doing their bit to ensure the customers are parted from their money as quickly and efficiently as possible. Without any way to reference the passing of time, how can a gambler hope to stick within predefined limits?

4 – Moods matter

Mood matters. A responsible gambler doesn’t gamble when he’s angry or depressed. He will avoid alcohol or drugs. These are just basic common sense things to do. It’s all about you, the gambler, being in control, not gambling having control over the player. Another important thing is to find a balance. You really don’t want gambling to take up all your waking hours. Don’t spend all your time digging around for jackpot winning tips and tricks. It’s just a pastime, which you enjoy with the same passion as your other varied interest. There should be lots of life outside of the casino and its culture of extreme highs and lows.

Conclusion: Responsible Gambling

Don’t read this as a treatise against gambling. It’s certainly not. It’s just a mirror to be held up to see how you and your gambling compare with those of a responsible player. If gambling is your thing, then go ahead and knock yourself out. Just make sure you know what you’re doing and make sure you have the will power to stop when the time comes.

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