1. The right attitude
You should acknowledge that no betting company in the world is there to make you rich; they are all in business and want to make money. Therefore, Addictions Foundation of Manitoba advises that you should approach gambling with the right attitude – gamble for fun and entertainment, not as a way to make money. Go into sports betting because you love football and want to see how well you can predict the outcomes, let making money not be the major motivation.
2. Approach gambling realistically
Never start gambling with your eyes set on Khanaitsa’s KSh 22 million jackpot. Experts say that in gambling, you cannot force a winning outcome and do not expect to win every time. Placing bets with a clear understanding of your odds would definitely go a long way in reducing chances of an emotional breakdown after a loss.
3. Gamble money you can afford to lose
There have been reports of university students gambling with their loans from the government and later regret their decisions. According to gambling website, ildado.com, if you need the money, do not gamble. This money should not be that meant for basic expenses like food or rent. When you run out of money, never borrow from family and friends in order to continue gambling.
4. Know when to stop
Moe pointed out that it is easier and safer to decide on what you can afford to lose before you start playing any game, that way, you will stop once you run out of the money and budget for your next bet.
5. Plan for the win
Finally, envision yourself having won the millions of shillings and what you could do with the money way before it comes. Many have been millionaires through gambling but the millions did not last long due to poor financial planning.
6. Pooling resources
Gambling does not have to be a one-man risk. You can pool resources with people of similar interests in order to lower your risk of losing. This works best with lotteries where a ground can buy a whole bunch of tickets thus increasing their chances of winning and reducing losses at the same time. If there is a win, the money is shared equitably. However, you should approach pools with some caution, though. Things can get ugly if there is no legal agreement in place, advises Best Online Gambling.
7. Track your progress
Always be aware of your win-loss ratio; you should know exactly how much you have spent and how much you have won or lost.