Around 1.6 billion people like to gamble (Gitnux). However, 1-8% of these individuals have some kind of gambling disorder (WHO).
If you think you might have a gambling problem, too, it’s good to know that you’re not alone and there are steps you can take to fix it.
And if you aren’t sure whether gambling has become an issue for you, here are 5 signs it has and that you need to take a break from gambling.
1. Chasing Losses
The number one sign that you need to take a break from gambling is you keep chasing losses.
Whenever you place an unsuccessful bet and lose money, you then place new bets in quick succession to recoup your losses. On rare occasions, this can work.
However, it doesn’t in most cases, leading to even more financial loss. This is why chasing losses is never a good strategy, and (if you feel the urge to start chasing) you should immediately log out.
Usually, people will chase losses inside online casinos and sportsbooks. However, a smart thing to do is try this list of all of the available sweepstakes casinos.
In a sweepstakes casino, you don’t play with real money. Instead, the games are free-to-play, which is excellent for gamblers who want to keep playing but without any financial risk.
2. Having Multiple Betting Accounts
In online gambling, it’s possible to be a responsible player with multiple betting accounts. However, if you keep opening new accounts with different providers regularly, this is a strong indicator that you have a gambling problem.
For example, if you have 10 or more active gambling accounts, it’s advised that you deactivate most of them and stick with just one (or two) gambling platforms instead.
3. Mounting Debt
Another sign you need to take a break from gambling is mounting debt.
18% of online gamblers are in gambling debt (Citizens Advice). Simply put, what happens is that they go into debt so that they can supplement future bets, which is very dangerous.
More often than not, this leads to mounting debt that’s out of control and impossible to pay off in the short term, leaving you trapped.
So, stop immediately, even if you’ve only gone into debt by a small amount (e.g., $20). Contact your betting sites and self-exclude so you can’t place more bets. From here, you can contact your bank to discuss repaying your debt.
4. Alcoholism
In many cases, people with gambling problems will experience alcoholism.
Naturally, this leads to a vicious cycle, as alcoholism encourages poor decision-making, bad moods, and other similar problems.
When under the influence of alcohol, problem gamblers often open up their betting apps and start placing bets without any logic behind them.
These bets are risky and have high odds, so (when the bets fail) the outcome is to begin then chasing the losses while drinking alcohol.
5. Constantly Checking Odds
Compulsive gamblers constantly check betting odds. Whether relaxing at home or on a lunch break at work, they’ll fire up their smartphones every hour to check odds and place bets, even when they don’t want to.
If this is something you do, too, you need to take a break from gambling, as it should never reach a stage where you can’t go a day without it.
Summary
If you identify with one or several of the problem gambling signs discussed in this guide, you need to take a break from gambling as soon as possible.
The good news is that you can use plenty of online resources to get help with this. Also, most online casinos and sportsbooks have help sections where you can place betting limits, play time limits, and more, which you’ll hopefully find helpful.
