Money Management Tips For Gambling

In this article, various methods that can be applied to prevent problem gambling will be presented. The methods presented in this article are related to "money management".

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CS:GO Gambling Money Management tips

Controlling your cash flow is an effective way of preventing problem gambling and reducing the risk of negative monetary consequences due to gambling.

gambling money management CS:GO
Reduce the risk of negative monetary consequences with proper money management.

There are multiple ways to use money management to limit gambling consumption as described below.

  1. Make a budget – First consider how much money you need to put aside for basic living costs such as food, insurance and rent. Then decide how much money you are willing to put at risk or lose on sports betting and gambling over a specific period. That could be a certain amount for a day, a week and/or a month.
  2. Set limitations – Set a limitation on how much money you are allowed to deposit, lose or use on a single bet. To help you stick to your limits, it is recommended that you use the limit functionality offered by most operators. This makes it easier on you to stick to your plan.
  3. Don’t borrow money for gambling – Avoid borrowing money from friends, family or other lending opportunities. Playing with borrowed money will increase the risk of your game. Furthermore, your potential losses will not only potentially harm yourself but also others around you.
  4. Withdraw your winnings – If you experience a large win, it is recommended to take out some money. Avoid increasing your gambling consumption following a larger win as this may increase your risk of gambling-related harm. Avoid having large sums of money on your betting account as it then can be more tempting to play riskier.
  5. Keep track of your losses and winnings – Keeping track of your historical performance will help you realise if sports betting and gambling is actually a sustainable revenue stream for you – for the majority, it is not…
  6. Cash withdrawal restrictions – Ask your bank to put restrictions on how much you can withdraw.
  7. Stick to your plan! – Most importantly – stick to your plan! If you have decided to uphold a budget or set limitations on each bet, then remember that. If you find that you are sometimes unable to stick to your limits, it is always a good idea to seek help to identify actions that can be taken to avoid the development of unsustainable gambling behaviour.
  8. Avoid loss recovery strategies – Instead of trying to win back losses, people might be better off avoiding loss recovery strategies that could potentially put them in bigger holes. Instead, treat losses as the cost of entertainment.

If you are experiencing difficulties with gambling yourself or you see that one of your friends is having problems, please do not hesitate to seek support and counselling from professional advisers who can assist you in gambling-related issues. Gambling Therapy is a global service providing free practical advice and emotional support to anyone affected by gambling.

Always practice responsible gambling. You must be 18+ to play.

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