Do you need to look closer at your gambling habits?

canstockphoto8590868Gambling is, like many other vices, one of those things that people need to keep a watchful eye on.
It can be very easy to see your gambling get out of control and, before you know it, you could be suffering from large amounts of debt. This doesn’t necessarily mean that betting has to be off limits; it’s more a case of ensuring that things don’t get out of hand and lead to the need for IVA advice. So, for instance, if you find yourself gambling sizable amounts of money every day then it may be time to try and curb things. Done in moderation, betting can be enjoyable, while also bringing in a bit of extra cash into the coffers but, it’s essential that gamblers don’t go overboard and risk losing everything.
Quitting while you’re ahead is the mantra to follow.

Gambling machines

There are plenty of different forms of gambling, all of which have obviously inherent risks involved.
One of the main troubles that come with automated machines is that they are located in various locations, from service stations to airports to pubs, meaning temptation is always there.
Furthermore, as these usually operate on small denominations such as ten or 20 pence pieces, it can seem as though you are losing less then you actually are. It’s a topical issue too, as recently the government launched a £500,000, 18-month-long study into the effect of gambling machines on members of the public. It is being carried out by Responsible Gambling and the results of the study could well influence whether or not government action is required.

In-play betting

This is also known as live betting and is seen as one of the latest and greatest advancements by betting firms, as it allows people to bet on games and sporting events as they happen.
Next goal time, scorer and team markets are all available and this can present a danger for those who struggle with gambling due to the range of options available. As things go, this is one area where it’s so important to keep a handle on your betting. The instant nature of this type of gambling means you can lose sizeable amounts quickly, with many hurrying then to put a big stake on to try and win their money back. Rushing into bets and placing big stakes is not a sensible way to go about things and, no matter how experienced and knowledgeable you are in terms of what you are betting on, it’s imperative to take your time and think calmly.

Have a betting budget

One way of keeping a tight handle on your gambling purse strings is to have a specific budget.
So, if you have an online account, deposit a small amount and then work solely from what you accumulate. Start off with £5, or a similarly small fee, and see if you can build that up over the course of time. Not only will this get rid of the need to withdraw money from your bank account, it could also boost your income in a small way too. Obviously, there’s no point simply gambling all the money in this pot away quickly and refilling it with money from your bank account, so set a limit on how often you are allowed to put money back in. This will force you to be sensible with the amount you gamble and how much you bet on.

Ultimately, the best way to see whether or not you are gambling excessively is to take a step back and look at exactly how much you spend each month in this area. Look at how successful you are and also consider your motives for this level of gambling. Is it becoming a compulsion, rather than something you enjoy to give you a small buzz now and again? If so, it’s important to cut back completely for a while or seek professional advice. Gambling is something that affects people in many different ways and, while some can cope with little and often, for others it becomes an addiction that can quickly lead to a debt spiral. It’s not only addictive because of the initial enjoyment but also due to the desire to win lost money back, so ensure you don’t take it lightly.