Avoid Losing Your Hard-Earned Money to Gambling

Gambling is not inherently wrong. After all, investments are also a form of gambling. It can be a form of recreation. However, it’s important to draw the line between what can be considered acceptable recreational gambling and problem gambling. Consider the following tips:

Know the Onerous Sides of Gambling

You may have encountered “bonus codes” for certain online casinos before. These are being spread through different platforms. They can let you get deposit bonuses, welcome bonuses, and other types of bonuses at online casinos. However, don’t be tempted by enticing bonuses such as a “300% deposit bonus” since they usually come with high and restrictive wagering requirements.

It would be good if you get something reasonable like what’s being offered with a Pinnacle bonus code, for example. With other online casinos, the high match bonuses you can get may be matched by overbearing playthrough or wagering requirements. These playthrough requirements can be as high as over 100x the sum of the deposit made and the bonus obtained. If you fail to complete the wagering requirement, you will not be able to withdraw your bonus and winnings, and sometimes you may not be able to withdraw anything at all.

Suppose you were attracted to the 300% deposit match bonus being offered through a bonus code you stumbled upon on Twitter. This means you can get a £300 bonus if you deposit £100. However, if the wagering requirement for this bonus is set at 100x. It means you would have to wager £40,000 to be able to withdraw the bonus and the winnings you make with it. Can you do that? What if you are given a completion period of only 15 days? Basically, what this means is you just willingly lost the amount you deposited by availing of the bonus.

Make Use of Gambling Limit Features

Again, we’re not saying gambling should be completely avoided. You just have to impose self discipline to avoid falling to problem gambling. Likewise, you need to be careful in choosing the online casino you sign up with. As much as possible, choose casinos that come with self-exclusion or gambling limit features in their account dashboards. Self-exclusion means you can voluntary prevent yourself from accessing your casino account for a certain period of time. The gambling limits feature, on the other hand, allows you to set maximum limits for the amounts you can deposit and wager on a casino site.

Knowing how to avoid overspending is as important as knowing how to earn your money. You need to learn how to prudently manage your finances to grow your wealth and to avoid quickly losing the wealth you have accumulated over the years.

 

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