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Gambling Budgets and Time Limits

Betend is an activity in which you bet on the outcome of an event. This could be a football match or even buying a scratchcard. The odds that you receive are based on luck and probability.

Gambling can be addictive and can lead to financial problems. If you are struggling with gambling, talk to a trusted friend or seek help from a professional counsellor.

Set a budget

Developing a gambling budget is an important first step for anyone who is struggling with problem gambling. It shows a commitment to change and it can be an eye-opener when you see how much of your income is being spent on gambling. This can help you get back on track and make a realistic plan for the future. It can also be helpful to arrange debt repayments and set aside some of the money for a savings account or holiday.

The most important thing to remember is to choose a reasonable amount of money that you can afford to spend on gambling for a night, week, or month. It’s also important to keep track of your wins and losses. Chasing your losses will never pay off, and it’s best to leave the casino if you are losing more than you are winning. It’s also a good idea to avoid taking gambling loans or asking for cash from friends and family.

Set a time limit

Setting a time limit is another way to help you keep track of how much time you’re spending gambling. You can do this by writing down your time, putting it on a calendar or even using a timer app. This will help you stay in control and not lose focus. It’s also important to remember that the more time you spend gambling, the more money you’ll lose.

Previous research has indicated that gamblers rarely choose to set their own limits for responsible gambling behaviour (Auer & Griffiths, 2013; Wood et al., 2010). The present study used the experimental method to investigate the effect of presenting a tool to encourage responsible gambling in EGMs by allowing participants to voluntarily pre-commit to a time limit before EGM play. Results revealed that participants who were presented with the tool (via a pop-up message) and instructed to set their own time limit prior to EGM play, spent significantly less time on the device than those who were not informed of this option.

Stay in control

Gambling is not only about risking money, it also involves a decision. Taking steps to control the decision is key. This includes eliminating credit cards, letting someone else be in charge of your money, closing gambling accounts and keeping only a small amount of cash on hand.

You may need to seek professional help to overcome a gambling problem. Counselling can help you understand your behaviour and think about options for changing it. It can also reduce the stress that can trigger gambling urges. Meditation, yoga and deep breathing exercises can also be helpful in relieving stress.

It is important to know your triggers and avoid them. For example, if your normal way home from work passes a casino, consider using an alternative route. Similarly, if watching sports sparks thoughts of gambling, try to watch something different. Additionally, it is important to learn about the cognitive distortions that can encourage compulsive gambling, such as the illusion of control and the gambler’s fallacy.

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