Responsible Gambling and safe online betting

7 September 2020 | , ,

Responsible gambling and online betting safety

Betting and gambling are and should remain a form of entertainment. Unfortunately, a fine line exists between the entertainment aspect and being irresponsible, due to its addictive nature. Winners know when to stop, is the slogan of an initiative by the South African Responsible Gambling Foundation (SARGF). The foundation was created to help ensure a safe environment and to promote responsible gambling. In addition to providing a support programme for those affected by problem gambling, they also facilitate training for industry employees. Even with industry safeguards, it is ultimately down to you to ensure you gamble within your means. There are a few precautions you can take to ensure that you gamble responsibly, and we will explore some of these here.

Set a budget and stick to it

This is for sure the most important precautionary measure you can take to avoid the risk of problem gambling. You know how much you can afford to spend on entertainment every month without getting into trouble. This applies to betting or responsible gambling just the same. Set yourself a weekly or monthly limit, or per visit to a casino or betting site and stick to it. It’s so easy to get distracted by the excitement of all the lights, the sounds and even the wins. Be in control at all times and be sure to monitor your spend.

Avoiding alcohol is also a top tip. Some of our team have played poker at some of the best world class casinos and the serious players drink coffee. They are alert and remain in complete control at all times. Some online betting sites have functionality that allows you to set deposit and spending limits. These tools are very useful to control your spend, especially online where there is no physical exchange of money. The tools are there for your protection, use them if available.

Never borrow money to bet or gamble

If you cannot afford to place a bet or gamble, however good the odds may seem, refrain from doing it. In the world today and especially online, it has become too easy to borrow money. The casino or online betting site is not going anywhere, wait until you can afford to place a bet. There will always be more opportunities for that special or seemingly unmissable bet to come along. It is in the betting sites’ interest to create these great offers to ensure your future custom. It is easier to manage your debts when you do not have to think about betting or gambling related debt.

Do not chase your losses

You may have heard this before, but what does it actually mean? So, you’ve placed a few losing bets and have an opportunity to make up the difference with a potential win. This is a very high-risk strategy since you also stand to lose that equalizer bet. A far safer strategy is to write off your losses. Provided you have stuck to your set budget and haven’t borrowed money to bet, you’ve had your fun. See how these different tips tie together? It is important to follow not just one, but all of these precautions in combination.

Quit while you are ahead

No doubt, the excitement of a win is a great feeling. This feeling comes about by endorphins being released into your body as a result of the winning event. If you’ve been lucky enough to win where either you have covered your losses or have a little extra, stop. Take the time to celebrate your win and walk away. It is too easy to chase that winning feeling, even if you are still within your budget. Err on the side of caution, you’ve had a good day and can return another time. It also helps being sensible about whether you have actually won. Ever had someone tell you that they keep winning when they completely discount their spend? Although winning events have occurred, in reality they may have lost more than they have won. You haven’t really won unless your net profit, winnings less spend, is a positive.

Safety in online betting

Now that you are equipped with some of the precautions to safeguard yourself from problem gambling, what other risks exist? The online gambling industry has unfortunately been somewhat tarnished by illegal and fly-by-night establishments that only exist to take your money. But what can you do to protect yourself against these criminals? Thankfully, there are several tell-tail signs to help you avoid betting sites that will only rip you off. The most important being to be duly licensed by a South African Provincial Licensing Authority. If you steer clear of betting sites that do not hold a local operating license, you have virtually eradicated the safety risk already.

We have covered some of the finer details on online betting safety with another article. Have a read to get true peace of mind. To make things even easier for you, we have also shortlisted what we consider to be the safest online betting sites. Either way, you can rest easy knowing that all betting sites listed on betandwin.co.za are considered safe to join. They all hold South African operating licenses and have been tried-and-tested by our team prior to being listed.

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