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Don't bet on it: How to know when sports betting is more than entertainment
Sports betting has grown in recent years as more states allow online gambling. Throughout history, people have found that applying a wager on a contest makes the outcome more interesting and the online options make that type of betting more accessible than ever.
Making a small wager on a game is fun and harmless for many people. The problem with gambling is the subtle way it can take over your behavior and sensibility. This change can happen slowly or quite rapidly depending on a number of variables. However, the outcomes tend to be the same: damage to your relationships, bank accounts, credit rating, and overall mental and physical health.
Gambling beliefs
Simple rules can help you manage your gambling, as well as give you warning signs that you may have a problem with gambling.
The first thing to check is your attitude or belief about gambling. Your beliefs will affect the way you conduct yourself when making a wager. The act of gambling itself can strongly contribute to the formation of these beliefs. They may include the idea that gambling is an easy way to earn money or that gamblers are smart enough to beat the odds.
You also may think that the more money spent gambling, the more you'll win. That belief is like the advertising "buy now and save" phrase seen in advertising. It sounds believable until you realize how illogical it is. Buying and saving are opposites; one doesn't lead to the other.
Gambling's effect on your brain
The act of gambling has a powerful effect on the human mind. Wagering can create a compulsive dynamic, affecting your mental, emotional and physical health. If your gambling tips over to addiction, it changes the way the brain operates, leading to a real need for help.
According to the Diagnostic and Statistical Manual of the American Psychiatric Association, the criteria for a gambling disorder is persistent, recurrent problematic gambling behavior leading to clinically significant impairment or distress.
A person exhibiting four or more of the following signs in a one-year period meets the criteria for a gambling disorder:
- Being preoccupied with gambling, including having persistent thoughts of reliving past gambling experiences, handicapping or planning the next venture, and thinking of ways to get money to gamble more.
- Being restless or irritable when attempting to cut down or stop gambling.
- Chasing your losses after losing money gambling by trying to gamble more to get back to even.
- Gambling when feeling distressed, helpless, guilty, anxious or depressed.
- Jeopardizing or losing a significant relationship, job, or educational or career opportunity because of gambling.
- Lying to conceal the extent of your gambling.
- Making repeated unsuccessful efforts to control, cut back or stop gambling.
- Needing to gamble with increasing amounts of money to achieve the desired excitement.
- Relying on others to provide money to relieve desperate financial situations caused by gambling.
If any of this sounds familiar, it might be an indication that you need to reconsider your gambling habits. If your attempts to control gambling fail, consider seeking help from an addiction professional.
Once you accept that gambling is for entertainment only, follow these simple guidelines to manage it:
- Avoid ATM machines or using lines of credit.
- Don't gamble while drinking alcohol.
- Don't play a game you don't understand.
- Limit the time you spend gambling.
- Money for placing a wager should come only from your entertainment budget.
- Never borrow money while gambling.
- Never lie about your wins or losses.
- Only bet what you can afford to lose.
- Remember the principle of gravity: What goes up must come down.
The No. 1 rule for gambling is don't chase your losses. Ultimately, you will lose money gambling. It's entertainment, not income. Otherwise, providers of that entertainment — casinos and online apps — would quickly be out of business.
If you look forward to the annual activity of selecting your brackets or trying to pick the champion of the big game, just remember that gambling and wagering can be a slippery slope.
Watch this video about how to deal with addictions, including gambling:
Brien Gleeson is licensed professional counselor in Psychiatry & Psychology in Eau Claire, Wisconsin.