Notes on the Clock promotes responsible gambling
What is responsible gambling?
Responsible gambling means staying in control of how much time and money we spend gambling. Whether you are buying a lottery ticket or scratch-card, placing a bet, playing poker or bingo, or playing on a gambling machine or casino game, gambling responsibly means treating the activity as just one form of
entertainment in a balanced lifestyle. Just like with other forms of entertainment, gambling is a form of expenditure, and responsible gambling means not spending more money or time than we can reasonably afford, keeping in mind all our other responsibilities in life.
Around 73% of adults in Britain gamble at least once a year, and the vast majority do so responsibly. It is important that anyone who gambles understands the price of the entertainment that they are buying, and due to the nature of gambling this is not always very clear. As consumers we must make choices based on the facts behind the gambling product, knowing and accepting the odds, and keeping our chances of winning in perspective. This means that consumers and businesses licensed to provide gambling opportunities in Britain have a shared responsibility in gambling.
Remember that, just like any other business, those licensed to provide opportunities to gamble in Britain are doing so to make a profit. However, gambling businesses have a responsibility to do this legally and fairly. This means that they must provide the information consumers need to make responsible decisions about what they spend. We have a responsibility to budget for our gambling activity just as we do for other forms of entertainment such as going to a restaurant, the cinema or a sporting venue. We should spend only what we can afford.
Do and Dont's of betting
Don't bet with money you cant afford
Most people bet as a leisure activity and have control of their betting habits. Remember whenever you place a bet you can and often will lose all your money so only bet with disposable income.
Don't chase your loses
If you have a losing bet do not start to chase your loses accept what has happened and stop and wait for another day. Chasing loses is a road to the poor house
Don't bet when intoxicated
If you have had a drink DO NOT gamble. Whilst under the influence your judgement is impaired and you also lose some of you inhibitions and you can quickly become reckless.
Do create a Betting Bank
Always keep your betting bank separate to your personal finances. This ensures that your day to day living expenses cannot be harmed if you have a losing run.
Do keep records
Only by recording your bets do you know what your Profit and Loss is and also what types of bets are more successful than others. By analysing your records you can modify your betting strategy to increase your profits.
If you feel you may have a problem with your gambling please visit Begambleaware.org where help is available.