How to Gamble without Getting Addicted

 

You probably gamble or know someone who gambles. And you might be wondering how to gamble without getting addicted. I applaud you for being proactive instead of waiting until you’re addicted.

The best way to gamble without getting addicted is using a strict bankroll and betting limits. If you use a bankroll and limits and never break them, you can gamble without worrying about becoming addicted.

But, if you set a bankroll and limits and break them, it might be a sign that you’re addicted.

The good news is this post includes many different strategies for gambling without being addicted and warning signs you need to watch for. And you’re going to learn exactly what to do if you might be getting addicted to gambling.

Use a Strict Gambling Bankroll

The best way to gamble without getting addicted is by using a strict bankroll. You use your bankroll to dictate when you gamble and how much you can lose when gambling.

Notice that the title of this section specifically includes the word strict. It doesn’t just say use a bankroll. You have to set strict rules for your bankroll and 100% follow the rules.

The good news is that you set your bankroll and set the rules for your bankroll. I’m a firm believer that if you have the money to gamble and want to gamble, you should be able to gamble.

But when someone gets addicted to gambling it can quickly ruin lives. Addicted gamblers have lost all of their money and destroyed their lives in other ways.

You can set a bankroll in several ways. But the best way to set a bankroll for most gamblers is to determine how much money they want to and can afford to risk.

Here’s an example:

You make $1,000 a week and can afford to spend $100 a week on gambling. So, you add $100 every week to your gambling bankroll. You add the money to your bankroll whether you gamble each week or not.

The next step is setting rules for your bankroll. The only rule you have to use is you can’t gamble if you don’t have money in your bankroll. You can’t borrow money or use money before you have it.

When you gamble, you only use money from your bankroll. And when you’re done gambling you put the money you have left back in your bankroll.

If you have a good gambling session you can take money out of your bankroll. But you can’t add the money back in later when you lose.

Use Betting Limits

The next way to gamble without getting addicted is using betting limits. Limits work a lot like a strict bankroll, but limits help in a slightly different or expanded way. Here are the best types of limits to use when you gamble.

Time limit – A gambling time limit is exactly what it sounds like. You determine how long you’re going to gamble, and when you’re time is up you stop.

Stop-loss limit – A stop-loss limit tells you it’s time to stop gambling when you lose a certain amount of money. The best way to use a stop loss limit is only to take an amount of money equal to your stop-loss limit to the casino. If you run out of money you stop gambling.

Stop win limit – Many gamblers don’t use a stop win limit. But it’s the best way to stop gambling when you’re winning. I always set my stop win limit at half my stop-loss limit. So, if my stop-loss limit is $300, my stop win limit is $150. If I get up at least $150, I stop gambling.

Never Chase Your Losses

Chasing losses is making larger bets to try to win back the money you lose.

Here’s an example:

You’re playing blackjack and lose $100. You’ve been betting $10 a hand and have had a bad run. You start betting $50 a hand to try to win back the $100 you lost.

Sometimes when you chase losses you get lucky and win your money back. But sometimes you lose more. And then you want to bet even more to chase the larger loss.

Even if you chase losses and win sometimes, your luck isn’t going to last forever. Chasing losses is not a profitable long-term strategy.

Of course, if you use a strict budget and limits, you’re not going to chase losses.

Understand Gambling Numbers and Expectation

Gambling games are designed to take your money. Of course, they give you a chance to win, but they’re built so they take more money than they give.

A few different names are used when describing how gambling games take your money. A common term is the house edge. Casino games have a house edge. And the house edge is a percentage. The percentage shows how much the casino expects to make on every dollar in wagers they take.

Different casino games have different house edges. And the higher the house edge, the more the casino makes.

Some slot machines have a house edge of 10% or higher. Most blackjack games have a house edge of 2% or less.

Any gambling activity you do that has a house edge gives you a negative expectation. In order to get a positive expectation, you have to get an edge over the casino.

And it’s impossible to get an edge against most casino and gambling games.

If you learn how the house edge and expectation work, you’re going to understand why you lose when you gamble. And hopefully, you can learn ways to reduce the house edge and improve your expectation.

Learn How to Gamble and Win, or at Least Break Even

I’m not going to spend a lot of time in this post on learning how to gamble and win; most gamblers can’t do it. But a small number of gamblers know how to win, and some can break even with the right strategies.

If you want to gamble and win, you have to find ways to gamble with positive expectation. The problem is that this is hard to do.

However, it’s a little easier learning how to gamble at a break even pace. It’s still challenging, but if you gamble at a break even pace you can gamble as much as you want because you’re not losing money.

You need to play a game that doesn’t have a big house edge. And you need to learn how to play in a way that eliminates the house edge.

Bet on sports, poker, and blackjack. Most gamblers lose money doing these things, but you can learn skills and strategies that let you break even with enough practice, study, and work.

Warning Signs of Gambling Addiction

According to the National Council on Problem Gambling, signs of gambling addiction include the following:

• Any gambling behavior that disrupts your personal, financial, or family life.
• Preoccupation with gambling.
• Chasing losses.
• Irritation when you stop gambling.
• The urge to risk more and more money over time.
• Continuing to gamble when you face negative consequences because of gambling.
• You’re obsessed with gambling.

A Few More Gambling Addiction Facts

Here are a few more things you need to know about gambling addiction:

• It doesn’t matter how old you are. Gambling addiction can be a problem for people of any age.
• Gambling addiction is not defined by a social or economical class. Rich people and poor people can be addicted to gambling. And it doesn’t matter if you’re black, white, or any other race.
• A gambling problem doesn’t mean you’re weak or irresponsible. It just means you have a problem. The good news is there’s help available.

To read more at the NCPG site, follow the link in the next section.

What to Do If You Might Be Addicted to Gambling

You need to do two things if you’re afraid you might be addicted to gambling. The first is to stop gambling. And the time to stop is immediately.

Don’t make excuses or lie to yourself. Just stop right now. And if you can stop, don’t let that stop you from doing the second thing. The second thing is to get help.

Here’s what happens with some people addicted to gambling. They stop gambling for a while and tell themselves that they can stop at any time. But they never seek help. And they end up gambling again soon.

You can find a phone number here to seek help.  The phone number is 800-522-4700. The site also has a section where you can find gambling addiction help based on the state you live in.

Conclusion: How to Gamble without Getting Addicted

The truth is that some people can’t gamble without getting addicted. But most people can gamble without addiction by following the simple steps in this post.

If you use a strict budget and the limits covered in this post you control your gambling. And more importantly, you control your losses.

Furthermore, if you learn how to gamble and win, you can gamble as much as you want. But gambling and winning rarely go together.

Finally, if you’re showing signs of gambling addiction, stop gambling immediately. And follow the instructions in this post to get help right now.