Here at Compare Betting Sites we are keen to promote the biggest and best offers available through our many betting partners. However, we also understand the importance of gambling responsibly.
This is why this week we are joining some of the biggest names in the industry in promoting safer gambling in the UK and Ireland. The cross-industry initiative is part of Responsible Gambling Week, running from the 7th to the 13th of November. In support of this hugely important awareness campaign we at Compare Betting Sites offer advice and tips on how to keep gambling fun and what to do if you think you may have a problem.
Deposit limits are available through all online betting sites and regardless of how much and how often you deposit, a deposit limit should be considered. This feature will ensure you do not fall foul of some of the issues discussed below. With most online gambling companies your deposit limit can be increased at any time with immediate effect. However, if you are attempting to reduce or remove your deposit limit then a 24-hour cooling off period will be required.
It isn’t just your spending that should be limited, limiting your time gambling is equally as important. Gambling should be fun and therefore not interfere with other parts of your life or your personal relationships. Most online betting sites will offer its users an option to set time limits, meaning your time spent gambling will be kept under control. Like the deposit limits you can choose to reduce your time limits at any time.
Only spend what you can afford
As a fun pastime, you should always gamble within your financial means. Your household bills and responsibilities should all be taken care of before you even consider depositing money into your online betting account.
In a recent interview promoting Responsible Gambling Week, Paddy Power, owner of the popular bookmaker of the same name, explained his betting firm target of a 90%-win percentage from its customers. That means for every £100 spent online or in store with the bookies they want you to walk away with £90. That marginal loss is enough to keep them profitable whilst ensuring bettors can celebrate a nice win or two.
Bettors should keep this in mind. Every time you deposit money into your online betting account, do not adopt an all or nothing attitude.
Don't chase your losses
Remember the popular phrase “don’t throw good money after bad”. One of the most common reasons for bettors losing more than they’d anticipated is chasing losses. If you lose a bet, put it behind you and retain a level head before placing another bet. If you let your losses get the better of you then you’re likely to starting ‘chasing’ these losses in an effort to regain your money. But by doing this you will inevitably start placing bets at larger odds, higher stakes or increased frequency. All three are likely to see your losses snowball.
Don’t gamble when upset or angry
Whatever the problem, it is important to remember that gambling is not the answer. Any negative emotion is proven to reduce your chances of winning when gambling. As with loss-chasing, gambling when depressed, upset or angry is likely to see you spending more than usual. These emotions make it more difficult to make clear decisions, heightening the likelihood of placing a losing bet which in turn will increase stress and/or anger levels. This vicious cycle will only end when you step away from gambling.
Stick to what you know
Gambling is of course a game of luck but you have to adapt an element of skill. Any successful bettor will be accustomed to studying the form and statistics before placing a bet on any sport. However, there will be limited information available on obscure matches and competitions available to bet on.
Bookmakers proudly boast about the countless betting markets available through their platform and whilst the unprecedented variety now available at the click of a button is wonderful, it can have its downsides. There is a growing number of bettors now placing blind bets. After all, how much can you possibly know about a football match taking place in the Iranian Second Division or the latest basketball game unfolding in Venezuela?
We are not saying to limit your bets to a handful of markets but simply to match your stakes up with the information you have at your disposal. If you know very little about Baltic League volleyball, then you should indeed stake very little on such a competition.
All online betting sites will offer time-out and self-exclusion options if you need some time away from the online betting world. Additionally, if you or someone you know has a problem with gambling or are showing signs of developing one then there is now an unprecedented amount of support available to you.
GambleAware – Most gambling charities and support groups rely on grants from GambleAware, making this independent charity one of the most important cogs in the UK betting machine. GambleAware sees problem gambling as a public health issue and is at the forefront when it comes to offering support and treatment to anyone affected by gambling addiction.
GambleAware were a leading player in the successful campaign to reduce stakes on in-store fixed odds betting terminals (FOBTs) from £100 to £2. You can visit gambleaware.co.uk for free, independent and anonymous advice.
GamCare – The GamCare charity was set up in 1997, and is now the industry leader when it comes to promoting safer gambling as well as advice and support for those at risk of developing a problem. GamCare’s National Gambling Helpline is available 24 hours a day on 0808 8020 133, offering support and advice anonymously throughout England and Wales.
BigDeal – Set up by GamCare, BigDeal offers advice and support for the growing number of young people with a developing gambling problem.
GamStop – Whilst all online bookmakers offer self-exclusion tools, problem gamblers can inevitably be tempted to use an alternative betting site if they exclude themselves from their usual online betting site of choice. This is why GamStop was introduced. By visiting gamstop.co.uk, you can now restrict your online gambling activities either temporarily or permanently from most online betting sites registered the Great Britain. Registration takes just a few minutes and soon all online betting sites trading in the UK and Ireland will be required to sign up to GamStop.
Gamban – Website blocking and filtering software offered by the likes of Gamban is a great way of controlling your gambling. Gamban can be used to block access to thousands of online gambling sites at the click of a button. Whilst the software usually requires a licence that can cost approximately £25 a year, many top betting sites now offer Gamban access to its members free of charge.
To access all of the gambling charities and tools out there, visit Betaid.org. This is a relatively new online platform that pools all of the UK’s responsible gambling tools and resources under one digital roof.
Register with responsible betting sites
Here at Compare Betting Sites, we have partnered with a long list of betting sites that take the subject of responsible gambling seriously. Head over to our homepage for a comprehensive list of top betting sites offering safe betting products.