In 2022, the US set a record in gambling; by November, revenue from the industry exceeded revenues from the whole of 2021. Together, casinos and mobile apps brought in nearly $55 billion, not including tribal casinos and illegal gambling activity. 

Americans love to gamble, and they spend a lot of money doing it every year. Some have made fortunes in casinos and online, but many have lost fortunes too. 

The best casinos encourage responsible gaming both online and in real life. They offer their patrons advice about gambling addiction and how best to enjoy different games without compromising their finances. 

Every gambler needs to know when to stop and they must be highly disciplined to enjoy their time gambling. A smart gambler knows the risks of excessive gambling and how to maintain a healthy balance, and they have a strategy to incorporate breaks. 

Those who want to be a smart gambler and understand how to manage a bankroll, walking away when things get a little too hot, should read on.

Risks of excessive gambling

When most people think about the risks of excessive gambling what immediately comes to mind is losing money. Indeed, one of the biggest risks of gambling without a system and discipline is that players can lose all their money, leaving them in dire straits financially. 

What may look like a personal problem will have a big effect on family members, and as it worsens it starts to affect everyone around the addict. Excessive gambling affects individuals, families, and communities.

Risks of excessive gambling on the individual

Before exploring the negative effects of gambling on the individual, it is important to acknowledge that the reason why an addiction initially develops is denial. 

People will rarely admit that they have a problem; to them, an admission looks like a weakness, and in their minds, they are convinced that they can stop anytime they want. 

It isn’t very different from an addiction to alcohol or drugs, and according to scientists, it affects the same pleasure centers in the brain. So, what happens to an individual when they become a compulsive gambler?

They suffer emotional stress

Gambling is all about emotions. When a player wins, they feel a high and want to keep winning because the high feels good. The flip side is that when they lose, players feel stressed, and will experience guilt and regret for the amount of money spent. 

The feeling grows and over time, these emotions may become permanent. 

Players have less time and money for family

Gambling requires money, and compulsive gamblers almost always find themselves lacking money for basic expenses. A compulsive gambler will have problems paying the rent or mortgage, insurance, and even groceries. 

If they have debts to service, they will continue putting them off, hoping that they will strike it rich the next time they gamble so they can pay them all off at once. Often, this doesn’t come to pass, and they dig themselves in deeper. Responsible gaming demands that players keep their responsibilities in focus.

They eat into their savings

This is one of the biggest risk factors of excessive gambling; it will eat into savings and soon, players will have nothing left. 

It isn’t unusual for gamblers to spend savings that they spent years accumulating. They keep withdrawing money, hoping that they can recoup their losses. But sooner or later, their savings accounts are depleted. Many even gamble away their retirement funds and start to sell off assets. 

Their relationships are compromised

Thousands of relationships are impacted every year by gambling. Partners are concerned about the rate at which the gambler is spending money, how secretive they have become, and how much time they spend either online or in land-based casinos. 

Gambling has been cited as the reason for many divorces. It breaks up otherwise solid couples who have been together for a long time because it compromises the relationship in ways that cannot be fixed. 

It isn’t just romantic partners who are affected. A compulsive gambler has a problem maintaining relationships with just about everyone. 

Anger

Anger is a common side-effect of gambling. Due to the constant feelings of guilt and regret, the compromised relationships and the financial worries, compulsive gamblers tend to be angry people who can lash out at any time.

Risks of excessive gambling on the family

Beyond the effects of gambling on the individual, close family members will also be implicated.

Neglect

As the compulsive gambler is spending money in ways that they shouldn’t, they end up neglecting financial responsibilities at home. The gambler can’t pay for the things that the family needs and they suffer because of his habit. 

Arguments

Arguments are common in households that home an addicted gambler. The more people argue, the more their relationships deteriorate, and the higher the risk of breakup and divorce. 

Deception and erosion of trust

The last thing a gambler wants is for this family to know just how deep in the hole they are, and they will do everything they can to hide their activities from their family. 

The trust that the family holds dear is eroded, and as the gambler gets in deeper, the more deception they need to keep everyone from finding out. 

Family roles and responsibilities are blurred

In many families, roles and responsibilities are usually quite clear. If everyone does their bit, things runs smoothly. However, when there is a gambler in the home, they often neglect their responsibilities, and this leads to strife. 

If one partner was paying the bills, for example, and they start to gamble irresponsibly, the other partner may have to take over the role, and this will often lead to conflict. 

Violence

It isn’t unusual for gamblers to become violent towards their families. They are driven by the regret and guilt that they feel, and they may use violence to cover up what is going on – that they are spending all the family money on gambling. 

How to maintain a healthy balance

It’s easy to say that gamblers should be disciplined and shouldn’t spend money that they need. However, as we have seen time and time again, this sort of advice doesn’t always work for compulsive gamblers. They may have the best intentions but will still be caught up in a vicious cycle that they cannot get out of. 

If a player enjoys gambling but is worried about destructive habits, there are certain things they can do to reduce the risk of becoming addicted and financially irresponsible.

Set up a bankroll for each gambling session and stick with it

A bankroll is the amount of money that a player intends to spend every time they gamble, and it is important for them to set up limits and adhere to them. 

If a player plans to spend $200 during an evening of gambling, they shouldn’t go over this amount by even a dollar. Should they win, they should decide how much of their winnings they would like to spend. 

If they win $50, it doesn’t make any sense to gamble that amount. It should be used to offset what has already been spent.

Should the player win anything above the $200 they brought with them, they can use the excess to keep going if they are inclined to. At the very least, they’ll leave with the same amount of money that they came in with. This is a good example of responsible gaming.

Learn to walk away after losing

What makes gambling so addictive is that people keep chasing losses hoping that they can turn them into wins. This often doesn’t work, and good gamblers know that if they come to the end of their bankroll and are on a losing streak, they should walk away.

Treat bets at the casino as an expense

In the same way players pay bills at home or pay to keep their car running, all money that is spent on gambling should be treated as an expense. This helps gamblers to stop and think about whether it is money they can afford to risk losing. 

Keep an eye on emotions

Gamblers should stop every half hour or so and examine how they feel. If they are starting to feel down and despondent, this can indicate the beginning of regret. At this point, players should stop gambling right away rather than hope to recoup their losses. 

Strategy to incorporate breaks

There are no hard and fast rules for how to incorporate breaks into gambling sessions. 

Players know themselves best and will know when they start going down the rabbit hole. That is the best time to take a break and think about how the wagering is going. 

Players should strive to take a break at any of the following circumstances.

1. When they are at the top of their game

If the player has been winning, it is a good idea for them to stop playing because it is only a matter of time before they start losing. All casino games are designed to let the player win only for so long. They are games of probability and if anyone plays for long enough, they will start to lose.

2. When they have been losing

If a player is on a losing streak, it’s time for them to call it quits before they start making irresponsible moves. 

3. When they become too immersed in the play

Gambling tends to take people down rabbit holes, and they end up getting so immersed that they don’t realize it’s time to stop. Players should schedule breaks and take them so they can get some air and think about what they are doing. 

4. When they feel things are getting out of hand

Excessive gambling, just like alcohol, is a deceptive disease. The sufferer doesn’t know that they are ill, and they must often hit rock bottom before they can seek assistance. Before that point, they are in denial and are convinced that they can stop whenever they want to. 

Players shouldn’t wait for things to get so bad. By then, they will have lost all their money, will probably be unemployed and will also have compromised many important relationships. 

If a player observes that the compulsion to gamble has become strong, they ought to seek help immediately. 

5. When they reach their pre-set time limit in the casino

Time, like a bankroll, should be finite. Before players go in, they should decide how much time they plan to spend on the casino floor depending on the size of their bankroll. Players need to remember that the longer they spend in the casino, the more money they’re likely to spend.

Knowing when it’s time to take a break

Every successful gambler understands that self-discipline plays an important role in their gaming. They understand the value of sticking to the limits that they have set for themselves. This includes how much money and time they can spend in the casino, and also looking out for signs of trouble. 

For those who want to be a disciplined gambler who doesn’t bend their rules and doesn’t take chances where limits are concerned, working on developing willpower is essential. It isn’t easy, but if players make a habit of never betting beyond their bankroll and leaving the casino when they should, they will eventually develop willpower and discipline. 

Understanding the warning signs of gambling addiction is equally important. Many people often find themselves in trouble because they didn’t know what to look for. 

If a player feels irritable and even angry every time they think about reducing time on the casino floor, it may be time to step away. Similarly, if players find themselves so desperate that they are willing to do anything to get money for the next gambling round, it is a sign that they should seek help.

The other important sign to look out for is chasing losses. The best advice for a player is to walk away when they start losing. There may be the rare occasion when they chase a loss, but this should not go on indefinitely, and it shouldn’t go beyond their bankroll. 

Lastly, if a player finds themselves lying to friends and family about how they spend time and money, it is a big sign that they are in trouble. It indicates that things aren’t as they should be and that is why they spend time crafting elaborate lies. If this happens, players should consider stepping away from casinos altogether.

Conclusion

Anyone who would like to try Resorts Casino can click here to learn how to be a good gambler without losing sight of responsibilities. If at any time players feel that they need support, the casino has help close at hand. They can contact the player support team through live chat, email, or telephone.