According to the International Center for Responsible Gaming, around 1% of the population in the United States has a severe gambling problem. Young people and young adults make up 6-9% of that number. With the legalization of sports betting in states across the country, it’s important to understand the resources available to help sports bettors who have a gambling problem.
What is Problem Gambling?
There are several charaౠcteristics that describe problem gambling. The Nevada Council on Problem Gambling has outlined several ✅symptoms as the signs you might be facing a gambling problem.
- Using gambling to escape trouble
- Using gambling to solve financial difficulties
- Gambling until you use your last dollar
- Cannot stop gambling whether you are winning or losing
- Gambling is causing lost time from work
- Neglecting family and friends because of gambling
- Borrowing money to pay off your gambling debts
- Telling lies about the time and money you spend gambling
If you are experiencing any of these symptoms, you sᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚhould reach out for help. We have a full list of available resources by state at the bottom of this page. Also, you can always call the National Problem Gambling Hotline at 1-800-522-4700.
Set Limits on Your Sportsbook Account
All sportsbooks are required by law to have responsible gaming options to allow you to set deposit maximums, time limits, and ꦚbetting limits. Visit the responsible gambling settings in your sportsbook apps to set these limits.
Time Limit:
- Restrict how long you are spending each day on a sportsbook app or platform.
Deposit Maximum:
- Set an amount to keep yourself from depositing huge amounts into your account.
Betting Limit:
- Stop yourself from wagering too much in one day or placing too large of bets with a maximum limit.
The only issue with these types of limits is that yo𒐪u have control over when to change them. Some sportsbooks might set a specific day limit before you are allowed to change them again. Some sportsbooks do have a feature that allows you to set the amount of days before you are allowed to change your settings.
Tips for Responsible Gaming
There are plenty of good strategies and t꧂ips when it comes to responsible gaming. Check out some important things to remember.
- Sports betting is hard and difficult to win long term. Only bet the amount of money you can afford to lose understanding you have a chance of losing everything you put in.
- Do not chase your losses! This means do not try to win back your losses quickly or to get yourself back to even.
- Set limits and understand them. These safeguards are put in place to keep you safe.
- If you ever feel like you are getting into a tough situation, use the resources available or contact the .
Ban Yourself Using Self-Exclusion
You can contact sportsbook operators in your state to use what is called voluntary or self-exclusion. These types of programs will pu🦩t you on a list to prevent you from being able to sign up or log꧟ in to any sportsbook or casino in the state.
Each state has different rules on how long the self-ban lasts. It can be a few years or even for the rest of your life. Also, you cannot use self-exclusion for a family member or friend. You have to be the one to make the decision and fill out the application. See self-exclusion resources by sta💃te below.
Common Sports Betting Mistakes
Novice sports bettors make all sorts of mistakes because they start betting quick❀ly before doing any research or developing any kind of strategy. Check out some of the most com♔mon sports betting mistakes.
- Changing unit size often to cover losses. It’s better to remain consistent.
- Going crazy for recent trends such as a team on a win streak.
- Believing the gambling fallacy. This is when you think something happening often now will happen most often in the future. For example, betting against a team to cover the spread that has covered 5 in a row.
- Making way too many bets. You not only lose track but you are taking a massive risk.
- Betting with your heart. This is one of the most common mistakes that leads to huge losses.
- Forgetting to and lines. You need to shop around to find the best value.
When it comes to responsible gaming, part of keeping yourself out of harm’s way is to research and develop strategies. Avoiding these mistakes above and others will lead to responsible gaming on your betting journey.
Managing Your Bankroll
In sports betting, managing your bankroll can make or break yꦐou. Too many bettors randomly deposit money and pla𒅌ce bets throughout the year with no idea how much they have spent or lost. First off, figure out in advance how much money you want to bet and deposit that into your account.
Next, set up unit sizes. Flat betting is usually one of the best ap✤proaches. You risk a low amount of your bankroll each day. It could be 2-3%. So if you deposit $200, your wagers would be $4-5.
Staying consistent and disciplined will ensure you don’t burn through all of your money. Also, it will keep you from chasing losses and betting more with each wager to try and win back recent losses. Bankroll management is a huge key in responsible gaming for all gamblers.
Responsible Gaming Resources Available in Each State
You can find states. Find your state below t🧔o see the responsible gaming resources. Also, know you🦄 can always call the National Problem Gambling Helpline.
Remember, responsible gaming measures are put in place to help you have the best gambling exper🧸ience. It is on you to understand the best responsible gaming practices and u✨nderstand if you are in a situation where you need help.
21+ and Gambling problem? Call 1-800-GAMBLER.
