How do you set a gambling budget?
Five simple steps, and the signs that it's time to stop.
SHORT ANSWER
Decide what you can afford to lose after all bills are paid, separate that money, set a time limit, and stop when you reach the limit. Never borrow to gamble. If stopping is hard, get help.
What are the five steps to set a limit?
- Work it out after bills. Use only money left after bills, savings and essentials.
- Set a small amount. Treat this amount as already gone.
- Separate the money. Don't keep your main card or e-wallet on a gambling account.
- Set a time. Use an alarm, because a fast pace makes time hard to feel.
- Stop at the limit. Don't add a deposit, even if a bonus is offered.
Why is chasing losses dangerous?
After a loss, the urge to "win it back" can push you to bet more. The house edge doesn't change, so losses can come faster. Daily bonuses and turnover conditions can also encourage you to play longer than planned.
When should you stop and get help?
Stop if you are borrowing to play, hiding it from your family, or feeling stressed. Befrienders KL can be reached on +603-7627 2929 24 hours a day. See the full list in our responsible gambling guide.