We should never gamble more money than we can afford. This is the golden rule for gambling responsibly, but there are several other ways by which we can maintain responsible practice.
Sometimes we can look to win too much money from gambling, trying to add value to bets by angling for more and more improbable outcomes. You should always try to predict an outcome then look for value after that, rather than letting the odds dictate your choices.
Keep a log of your profits and losses. It’s easy to overstate your wins and forget your losses, so you must either keep a diary, or use a limiting device sometimes available on the site you’re using.
A detailed diary not only manages the amount of money you’re spending, it also helps us to glean just what is a good bet.
At the online casino, you may find you have distinctly more luck with Poker than Blackjack, or perhaps it’ll highlight the times when you’ve folded in the past which have led to the best outcomes. The same goes for sports betting. If you’re a football fan you may find that the classic ‘form’ guide is low down on the list of determinants.
In a busy Premier League season, fatigue may be more of a factor for stretched squads. In a different scenario, some teams may be better value than their odds suggest when playing the big clubs at home.
If you lose a bet, you should never chase it too hard in betting markets where you have less knowledge. If the online casino is your cup of tea, you may specialise in Poker but wish to play other games. Introduce yourself with low stakes bets, until you get a feel for the gameplay. Frivolously chasing bets can lead to a spiral of defeats. Patience and waiting for the right opportunity is often paramount in gambling.
