Responsible Gambling 101: 5 Ways You Can Practice Ethics In Gambling

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What Is Gambling?

According to an online dictionary, gambling is the act of wagering a valuable thing for another, especially for high stakes. Gambling formally, for a long time, has usually taken place within a land casino. The wager's outcome is often immediate. One such example can be a single roll of dice or the spin of a roulette wheel. Still, long periods are also common, allowing bettors to make wagers about the upcoming outcome of a future sports contest or season.

Gambling activity can be traced as far back as the Paleolithic period. The earliest six-sided dice In Mesopotamia date back to as early as about 3000 BCE. Meanwhile, gambling houses were widespread in China in the first millennium BCE. Furthermore, betting on fighting animals was also popular. Lotto games and dominoes (Pai Gow's precursors) appeared in China in the 10th century. Due to gambling, some religions have outlawed it as an activity.


The Dangers Of Gambling

According to Jennifer Shatley, an esteemed expert from UNLV's International Gaming Institute, gambling becomes problematic when patrons use gambling as a source of income or gamble with more money than they can afford to lose.

The dangers of gambling include:

 
Chasing losses through gambling more

Irritability when cutting back on gambling

Lying to friends and family, and significant others about gambling habits

Gambling as a scapegoat for problems and other issues

 
Mooch on others to pay for your gambling debts

Accumulation of debts incurred because of gambling



Due to these problems caused by excessive gambling, regulators and other stakeholders in the gambling industry worldwide have discussed social responsibility initiatives to help promote responsible gambling.


Practicing Responsible Gambling

What Is Responsible Gambling?

According to Jennifer Shatley, part and parcel of responsible gambling means taking breaks. In addition, it means not relying on gambling as a source of income, only gambling with money you can afford to lose, and lastly, setting limits for yourself.

Normally, limit-setting is easier to do online because many online gambling sites have built-in tools that allow gamblers to set limits directly on the site.

Usually, the most common forms of gambling are online casinos, where one can access online Baccarat and Blackjack online. However, with gacha mobile games becoming more popular, anyone can gamble online.

Up to now, responsible gambling remains a wide and broad concept that comprises several policies and requirements that apply to gambling stakeholders to ensure they respect the highest standards of quality. Moreover, responsible gambling offers a safe user experience that protects people from the potential negative consequences of online gambling.

Online suppliers that provide venues for online gambling are regulated and follow the rules. Some of the industry practices for online venues include:

● Protection of vulnerable gamblers

● Prevention of underage gambling

● Safety measures against criminal activities

● Information Privacy

● Online payment protection

● A secure online environment

● Ethical and responsible marketing


5 Ways To Practice Responsible Gambling

Gambling, no doubt, brings joy and happiness to people. However, one must always practice moderation, as too much of anything can result in negative consequences.

Here are five ways you can practice responsible and ethical gambling.
Set a budget. By setting a budget, you can avoid spending more than you can afford to. If you spend within your budget, you have more money set aside for savings and your other needs.

 
Refrain from gambling when you are upset or drunk. An unhealthy gambling practice is using betting as a scapegoat for your issues. Gambling is not meant to be used as an outlet for issues. Instead, you can opt to see a therapist. When you gamble, ensure that you are in a good headspace.

 
Follow a gambling time limit. Gambling is not meant to be a lifestyle nor a source of income. It is a joyful activity. Following a time limit ensures that you can give other things more time. In addition, you get to practice a healthy time limit away from gambling.

 
Take breaks. Life is not always about gambling. In addition, you can benefit from gambling breaks because they can refresh your system and mind.

 
Take up more hobbies. There are plenty of festive activities in the world aside from gambling. As an alternative to gambling, you can take up sewing or learning to make handicrafts. These are not only fun, time-consuming activities but also educational as well.


Wrapping Up

In the gambling industry, stakeholders are responsible for their actions and consequences. Although most responsible gambling is relegated to the bigger stakeholders, it is important, as gamblers and players, to practice self-awareness and mindfulness.

By being mindful of how you gamble, you become a better person and player. Personal growth remains one of the most provocative and powerful actions you can take in our busy world. It means actively choosing good - especially for the people you love.

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