When done correctly, gambling can be a thrill. Whether you’re betting on the final outcome of a sports game, sitting at a poker table or feeding money into a penny slot machine, gambling money to try and win more money is a risk you’re willing to take. If you’re new to the gambling scene or even if you consider yourself a gambling professional, the following are tips to help ensure you don’t end up with a serious problem.
1. Only gamble what you can afford to lose.
Gambling does not always guarantee a win. If you don’t have money to gamble, then don’t gamble. Never try to increase what you don’t have by gambling away what you do. If you can only afford to gamble $100, make sure you only bring $100 with you. Leave your credit and debit cards at home, and NEVER take out a loan to go gambling.
2. Only gamble half of what you can afford to lose.
As a safer rule of thumb, take the amount of money you can afford to lose and cut it in half. Now make that new number the amount of money you can afford to lose. For example, if you can afford to gamble $100, instead tell yourself that you can only afford to gamble $50. This way, if you end up losing, you still have $50 to your name. Don’t use this as a safety net to continue gambling, though. Instead put it away for a rainy day.
3. Walk away with winnings.
Though it may be hard to do, if you win at gambling, take your winnings and walk away. Do not continue to gamble your winnings, otherwise you could be left with nothing. It’s always better to walk away a winner and try your hand at gambling another time than to throw away your winnings and walk away a loser.
4. Don’t count your winnings.
Another great tip for you winnings is to not count them. Place any money you win into your purse, wallet or pocket and only continue to gamble with your original amount. If you end up losing your original amount, walk away. You will now have all of your winnings to use towards something other than gambling, and you won’t have risked it all.
5. Set limits.
Giving yourself limits when gambling can help ensure you don’t overdo it. For example, if you are starting to gamble with $100, set a limit for when you’re down half, which in this case would be $50. If you end up losing and you only have $50 left, quit. If you’re winning, you can adjust your limits by half. So for example if you end up winning and you now have $200, cut your winnings in half and set $100 as your new limit for losing.
6. Be realistic.
You cannot guarantee that you’re going to win when gambling, so don’t walk into a casino with your last dime and expect to become rich. Understand that you’re probably going to lose more than you win, and be able to have control over when to quit.
Gambling can be exciting and fun, but it needs to be kept in control. Excessive gambling is a serious problem and needs to be handled by a professional. If you or someone you know has a gambling problem, please seek help immediately.
Barry Newman is a writer and marketing expert who works with various Bahamas Island Hotels. He likes to give advice and help to people on the internet.