Gambling is an activity that is carried out by many. The word gambling is not strange to one’s ears or a new thing in society. Anything that is wagered on with something of value with the hopes of gaining on the outcome of an uncertain event whereby the result is determined by chance or accident is what we term gambling.
There are many reasons why people gamble, some use it as a form of entertainment, while others see it as an opportunity to make a fortune. Whether gambling is what we use to take away the stress and pressure of our daily jobs or you engage in it regularly because you feel a big cash-out is coming soon. It is unwise to do so without knowing these few tips to responsible gambling.
What is responsible gambling?
Responsible gambling is large and comprises various concepts, policies and requirements that apply to gambling companies and stakeholders to ensure that they keep to gambling standards, protect the user’s experience and ensure that the negative consequences of online and land based casino gambling are avoided as much as possible.
The principles of online gambling require that both online and land based casino platforms and software providers comply with technical and legislative demands and make sure that gambling is treated more as an entertainment and not a means of income generation. The areas that responsible gambling focuses on includes i) underage gambling ii) protection of vulnerable gamblers iii) safety measures against cybercrime and criminals iv) online payment protection v) information privacy.
- Underage gambling protection: The legal age of gambling is 18 or 21 depending on the country or region. Responsible gambling focuses on prevention of underage gamblers as much as possible. This means that every online operator including online gaming websites, casino sites. Must make sure that underage gambling activities do not take place on their websites. This is achieved by making sure visitors undergo mandatory registration and verification process to ensure they are at such age or above the legally required gambling age.
- Protection of vulnerable gamblers: One of the most important areas responsible gambling focuses on is the protection of vulnerable gamblers. Who do we call vulnerable gamblers? Vulnerable gamblers are those that get addicted to different gambling activities such as casino games or sports betting activities. They spend and lose a lot of money which affects their normal lives.
In this context, what responsible gambling aims at is to improve measures that curtail the activities of such people. Some of these programs are self exclusive programs which limit the amount of money and time a player can spend on an online casino site like kingbilly.
- Safety measures against cybercrime and criminals: Cybercrime is one major setback that online operators have been fighting against. Online criminals go as far as deploying malicious software and target vulnerable websites that do not have strong cyber-security systems. This is the reason why one should make use of trusted online casino sites such as Kingbilly Canada, where you are sure of your data privacy protection and safety. Operators are required to meet the necessary procedures and software programs to detect and stop such hacking activities.
- Online payment protection: Online sports and casino website operators need to ensure that player’s personal data and financial details are protected. Probably, because of these safety measures it has led to the popularity of crypto casinos. All online gambling platforms must ensure that deposits and withdrawals from the websites carried out by players are safe and secure.
- Information privacy: Responsible gambling is concerned about the protection of customer’s data and information. Prior to these strong policies have been introduced to control the access to important information such as names, addresses and telephone numbers. There is also a mandatory checking to make sure that the regulation requirements are followed.
Tips on how to gamble responsibly
- Gamble only what you can afford to lose: Most people see gambling as a way to make money or a big fortune. Their minds are not always concerned towards the truth that gambling can never be risk free. As a gambler, no matter how experienced you are or how perfect you have analyzed the odds. Be aware that you are putting money where you may lose it completely. So therefore always ensure you stake money you can afford to lose.
- Set a gambling loss limit and time limit: There is this saying that the most intelligent decisions are made initially. After a while stress and fatigue sets in and everything becomes weary, tiring and complicated. As a responsible gambler, be smart enough to set a limit to the money you can lose and how much time you would spend gambling. This brings about balance so that you don’t spend too much time and money on the tables.
- Do not chase your losses: To chase losses means to continue gambling with the intention of winning back what you have lost. This is a mistake made by most gamblers. If you have lost severally in a row, take a bow and gamble another day or else you may end up losing the money you have on you.
- Look at your winnings as a long term investment: The money earned from gambling cannot be relied upon as a source of regular income but rather a long term investment with a net worth consisting of wins and losses. When you understand the concepts, then it will guide you on how to gamble responsibly.
Gamble for fun and not a way of making money: Gambling should be seen as entertainment and not a source of income. The truth is that gambling is business and every gambling establishment expects to make more money than they payout. Consider the money you stake as the cost of entertainment.