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Three in four Australians gamble in some form. For many, gambling is a fun activity that they do on a lark, such as buying a chance on Powerball when the jackpot is massive. However, for many, gambling can become an addiction.
Gambling can feed into one’s need for instant gratification, and the highs experienced can become addictive. Some people will use gambling to combat negative emotional triggers in life, such as stress or depression. Unfortunately, this can lead to players becoming dependent on gambling, even when it starts to impact daily life.
Fortunately, players can take proactive steps to combat the negative impacts of gambling. Today, we will take a look at responsible gambling and how it can benefit gamblers. We will also take a look at the negative impacts of online gambling, how to determine if you are having a problem, and steps you can take to stay in control.
If you want to read more about topics like responsible gambling or other relevant issues to gambling, we encourage you to check out our online pokies blog.
What It Means to Gamble Responsibly
Responsible gambling, at its core, is a conscious effort to keep gambling as a form of entertainment. It is a partnership between players and casinos to participate in gambling in a controlled manner.
By taking a proactive and conscious approach to gambling, the negative impacts of gambling can be minimised. It involves intentional actions that must be taken every time you gamble to establish consistency.
One crucial factor to understand is the difference between fun play and harmful play. Fun play is something that is done for entertainment. The goal is not to become rich but to enjoy the activity. For example, placing a small bet on a football match or playing some low-stakes spins on pokies can be fun. Fun play is typically done at smaller stakes, infrequently, and for short amounts of time.
Harmful play is quite the opposite. It involves making frequent and even risky bets, often for increasing sums of money. It also involves spending large amounts of time on the activity, and can even overtake one’s life. When the game becomes less about having fun and more about winning money, you’ve crossed into the harmful play zone.
Responsible gambling helps one to stay in the fun play zone and avoid crossing the line into behaviours that can negatively impact life.
Warning Signs You’re Crossing the Line
Like other forms of addiction, there are several common warning signs that problem gamblers start exhibiting, even if they don’t realise it. These symptoms can be behavioural or emotional. Some of the most common problem gambling signs fall in the behavioural category. They include:
- Gambling for excessive periods of time
- Chasing losses, resulting in larger losses
- Skipping work or social activities to gamble
- Borrowing money from others or using credit cards to gamble
In addition to obvious problem gambling signs, there are emotional signals that may be less obvious to some. They include:
- Gambling in secrecy
- Becoming defensive or combative when questioned about your gambling
- Anxiety related to losses or stigma of gambling
- Guilt over losing money through gambling
- Withdrawing from family or friends due to gambling
If any of these signs look familiar in your play, it may be time to seek help for your gambling habits. The same is true if you notice a friend or loved one exhibiting the same symptoms.
Setting Limits Before You Spin or Bet
One way that many players can avoid the pitfalls of problem gambling is by setting limits on play. It starts by setting a budget for your play. Determine how much money you can afford to lose per month and earmark only that amount for gambling. The best strategy is to set a monthly budget and split it up into smaller weekly budgets.
Next, there are several tools available at most casinos that can help you further control your gaming. These include setting betting limits, loss limits, and session time limits. Betting limits allow you to set a maximum amount you’re willing to wager per day or session.
Loss limits work similarly to blocking your gaming once you hit a predetermined loss amount. Session limits allow you to set time limits on how long you play for each session or each day. Once you hit this limit, you will be unable to log in to the casino for the rest of the day or week.
Many online casinos have built-in responsible gambling tools that you can access from your profile. Some will allow you to set limits when you register for an account. This way, you can set your limits and forget it. Otherwise, you can contact the site’s customer support to set limits on play.
The Psychology of Gambling & Loss Aversion
Most people look solely at the monetary wins and losses associated with gambling and overlook the psychological impacts. Understanding the psychological impact can help one get a better handle on why they gamble or struggle to quit.
Gambling can be exciting, as winning can release dopamine, aka the “feel-good” hormone. Winning feels good, and hitting a big win can create a rush similar to what you’d experience in sports or other exhilarating activities.
However, another factor that many people overlook is what is known as the near-miss effect. When you fall just short of hitting a big win or triggering the bonus game, our brains are stimulated similarly to when we win. This creates a false impression that we are “close to hitting” or close to scoring a big win. Players may then adopt the “just one more spin” mentality, thinking they will win.
This mentality is dangerous as online casino games run on a random number generator. There are no actual patterns in play and each spin is unique from the last. The perception that you’re about to hit is literally all in your head and often leads to players chasing and losing more money.
Finally, some players have difficulty walking away from gambling due to loss aversion. Psychologically, we tend to give more emotional weight to losses than we do wins. We remember our losses or feel the pain of them more intensely than we do our wins. This often leads players to try to chase after losses. They believe that if they can play a bit longer, they will win enough to avoid a loss. This behaviour generally leads to further losses, compounding the problem.
