Recognize the Risks
- Make sure you understand the odds and house edge. Over the long run the house always wins.
The biggest difference between sports betting and other forms of gambling is that many people who make bets are also fans of the sport or played the sport in the past. That can lead them to believe that their expertise gives them special insight or makes their bet a “sure thing,” even though sports bets are decided by random and chance outcomes.
- Set a timer on your phone to keep track of time spent betting.
- When gambling is no longer fun, take a break.
- Know how much you’re willing to lose and how long you want to play – set limits of time and money.
Know when to stop.
- Balance gambling with other activities.
- Treat gambling as a form of entertainment and not a way to make money.
- Hope to win but expect to lose. Remember: you’re playing to have a good time – never chase your losses.