Gambling was made illegal in the brick and mortar facilities to prevent the unethical practices associated with gambling. With the increase in the number of online casinos in recent days, gambling practices have been on a rapid growth across the world as well. However, it is no secret that healthy gambling can easily turn into obsessive gambling or gambling addiction in no time. Thankfully, the rise in online gambling platforms has also encouraged and facilitated people to report their gambling addiction more than ever before.
While ‘responsible gambling’ is a self-explanatory word, it is used in the gambling industry to highlight the different policies and measures employed to prevent excessive or addictive gambling which can be detrimental to the health and finances of the players.
Before your gambling habits are out of hand or growing into an addiction, it is important to be familiar with the various services in place to help you control your urges and ensure a controlled gambling environment.
There is nothing quite like self-control that can help you fix your addiction. There are some measures you need to take by yourself to ensure that you prevent this healthy and fun practice from turning into a toxic addiction.
Not a Source of Income
You may be excellent at gambling or at certain casino games and win a lot of money while playing. However, in the long run, you can never resort to gambling as a source of income. Online casinos offer these games from a business perspective. This means, the more you play, the more likely you are to lose. This is why it is important to consider these games as a mere source of entertainment and not your primary income.
Never Bet Amounts You Can’t Afford to Lose
Gambling pros sometimes tend to bet such exorbitant amounts that they can’t afford to lose, and ultimately, end up losing. It is important to understand that the chances to win and lose in such games are unforeseen and cause you a lot of distress in the long run. Make it a point to never bet a large sum of money in the hopes of victory if losing it will drain your bank account and devoid you of the basic necessities of life.
The key to avoiding addiction is to restrict your playtime in gambling. Apart from this, the longer you play, the more tired you become which might lead to undesirable moves which may cost you a fortune. Avoid all this by simply limiting your gambling sessions to short periods instead of binging on it.
Put the Greed Aside
Some gambling enthusiasts cash big victories and tend to set a target to play for. This practice often leads to losing all that they win in hopes of encashing more money. Do away with this greed and enjoy the limited victories that you have in hand.
Never Attempt to Recover Losses
If you win, great. If you lose, do not continue to play just to recover the lost amount- it probably won’t work. Do not forget that online casinos are businesses and the house inevitably has an edge. If you continue the game to recover the money, chances are, you will keep losing more and face a major financial crisis by the end of it.
Services by Online Gambling Operators
Unfortunately, gambling addiction can be a potential source of greater revenues for unethical or shady online casinos. They require stringent rules to employ measures to protect vulnerable players from getting addicted. Resultantly, the support offered by these operators depends largely on the license issuing authority.
Most renowned gambling regulatory bodies have strict rules that need to be followed to be able to get a license for legally running an online casino. Below are some of these features explained:
Operators who seek licensing from the United Kingdom Gambling Commission must adhere to the high standards of requirements. They need to offer several regulatory tools to prevent gambling addiction. It should also be noted that these norms only apply to UK citizens.
- Time outs: On request, the operator requires to suspend the account of the player for a short duration of 24 hours to 6 weeks, depending on the request. This is the period when the player finds themself at a high-risk of addiction. This prevents the player from accessing the account until the suspension period is completed, post which, the account is automatically revived. This is only applied to the casino it is requested, not the rest using the same license.
- Self-exclusion: This is a stronger method to control gambling for a player who feels they need more stringent measures to control the addiction. On request, the operator suspends the account for a greater time duration that can range from 6 months or over 5 years. During this period, the player won’t even receive any marketing updates within 48 hours of activation. Once the seclusion period ends, it automatically extends up to 7 more years unless the account holder takes positive action. Once the self-exclusion period exhausts and the account holder requests to reactivate their account, a 24-hour ‘cooling-off’ period is applied before they can access their ID. This self-exclusion request is carried off to every operator under the same license.
Malta Gaming Authority is another regulatory body valid for everyone even outside the UK jurisdiction. They offer almost similar norms as UKGC. Similar to as UKGC, the self-exclusion request is carried out to all operators under the same license, but apart from that, deposit limits, loss limits, etc are also carried out to all operators under this license. Another difference between both of these bodies is that in MGA, any account closure can be revoked at any point in time but the ID is only accessible after a 7-day ‘cooling-off’ period.
There are several methods employed by operators and licensing authorities to protect the players from addiction. However, the only person who can help you the best is you. Assess your gambling habits and understand when you need to take preventive measures to ensure a healthy gambling with a healthy lifestyle!