Have you ever placed a bet irrationally?
If you have, this post will highlight why it happened (and how to minimise the chance of it happening again). It’s the same reason that gambling addiction is such a problem.
This article has got the lot. Created for punters and sports traders, there’s some sound actionable advice and resources to help you understand and re-shape your behaviour whilst betting, positively.
Buckle up, because it’s a good one (one YouTube comment said the best ever).
Not everybody that places a bet develops a gambling addiction. However, the reality is – a fair percentage of users will exhibit additive behaviours at one time or another.
People without an understanding of addiction often think those affected have a willpower issue.
This is not the case.
Addiction is a misinterpreted illness derived from a whole selection of variables, the stigma attached can also make it tricky to deal with. If you are concerned about someone around you, please go easy on them (and make use of the contacts at the bottom of this article).
Changing Your Behaviour…
It’s important to say; changing behaviour isn’t always easy, and it never happens overnight.
But with the awareness and understanding shared in the video below, the chances of slowing or even stopping problem behaviour is dramatically increased. By doing the things suggested below I managed to kick the ‘going in-play’ habit that pre-race traders often face when learning the ropes.
Check it out…
Some of the feedback following this clip’s release has been astounding. Several viewers have messaged to say that they or someone they know has sought out professional help after watching it…
Are You in Denial?
Denying there’s a problem is one of the biggest barriers that problem gamblers face.
Simply put; if you can’t see an issue – how can someone deal with it?
Facing reality and accepting there’s a problem beyond your own control is a massive victory to anyone who suffers a gambling addiction. Take a step back and have a think about your own behaviour for a second, is that you?
Worse still, if you suspect this could apply to someone you love – it’s frustrating to watch. Outright telling them there’s a problem isn’t always the best course of action though, maybe prompt them to watch the video above when they’re in the right frame of mind. From there it’s more likely their own logic and awareness will be heightened, hopefully leading to additional help.
What Causes Gambling Addiction?
There’s a whole host of reasons people become addicted to having a bet. Typical reasons being; financial desperation, social standing, thrill seaking, entertainment and even lonelyness.
The saddest part being the repetitive cycle that ensue, sometimes refereed to as ‘chasing’. That cycle can be extremely destructive in some cases.
Keeping detailed records of transactions and how much you have spent is a good idea to maintain a realistic view. Sometimes a factual balance sheet is the catalyst for realising there’s an issue. This lack of reality is often at the route cause of addictive behaviour.
Who Gambles the Most?
Here’s a quick look at who gambles the most, by age over the last 2 years:
How to Stop a Gambling Problem…
In an ideal world there would be an instant cure, but unfortunately there isn’t.
However, we’ve got a few useful tips to help anyone that wants to stop gambling altogether. First off, you can contact an of the bookmakers and exchanges you use and ask to be self-excluded. They will then lock you out of your accounts. Getting this reversed isn’t easy, designed as a manual override when you’re not thinking logically.
Another good idea to consider is contacting your banking to make preventative measures. Some have credited this method as the best way to overcome their gambling issues.
Having a sensible chat with those who are close to you is another good idea. It may not be for everyone, but if your friends and family are aware that you are trying to stop gambling completely it’s likely they will support the decision. A few choice words from the right person can go a long way in those moments of relapse.
Gambling problems routinely appear at certain times. For example – financial pain, being angry, lonely, boredom. So thinking about your daily routine and when you are most susceptible to having a slip is a good idea, whilst you’re not caught up in the emotion of the moment. Then, change the pattern!
As an example, if you routinely use your mobile phone on a lunch break at work which leads to you placing a few bets (and a bigger problem). Take preventative measures now so you don’t have that choice. Delete the app and find something else to do with your lunch break. Go to the gym, read the paper, call your partner – there’s thousands of fulfilling things you can do instead.
Problem Gamblers Warning Signs:
It doesn’t matter if we’re talking about gambling or smoking, addiction is similar in nature.
There’s bound to be far more, but we’ve compiled a group of the most frequently noticeable ones to help anyone out who’s still on the fence. If you or your loved ones are familiar with the following, we’d advise making contact on the numbers and links at the bottom of this page.
Do you find yourself doing many of the following?
- Betting every day of the week.
- Gambling more than you can afford to lose.
- Struggling to stop yourself from chasing losses.
- Lying to others about your gambling activities (knowing its wrong).
- You don’t feel a buzz when betting with smaller stakes.
- Regularly finding yourself betting on things you would otherwise have no interest in.
- Causing financial problems for yourself or those around you.
- Other people have told you they think there is a gambling problem present.
- You neglect other area’s of your life because of your gambling activity (friends, family, work).
Take a second to think about it. Problem gambling doesn’t mean you do all of these, and it doesn’t even mean you’re loosing.
Not so long ago I was talking to another professional trader who agreed that they had experienced addictive behaviour and neglected those around them – despite making a fortune. It’s still destructive.
How to Get Help Now…
It’s unlikely to apply for everyone, but if this post (or video) has prompted you into thinking there may be a problem – it’s best to get help.
All three of the services listed below can offer professional advice and support:
Gamblers Anonymous: as the name suggests, a group of like-minded individuals who work together to resolve gambling problems. There is a test and live chatroom on this website. Probably one of the most well-known services.
GamCare: a free information service, support and counselling for people with an addictive problem inside the UK.
BeGambleAware: The national gambling helpline, also available on freephone 0808 8020133. Active 8am until midnight 7 days a week (inside the UK).
Remember: You’re never alone. In fact, ex-footballer Scott Davies is now committed to helping other problem gamblers resolve their addictive behaviour.
Next Read: Sports Trading (Full Explanation – What, How and Why)
Great video Caan, 2nd time watching this got way more out of it this time .was doing well on tennis (trading)recently for about 40 days then did my bank going on the chase through backing horses trying to win money back quickly I had lost. realise now that I got stuck in the3 point loop (tilt). a big point that needs to be re-emphasised with Cheltenham coming up is that expectations need to be managed.
Expectations can be sucker when it comes to driving impulsive behaviour. It’s been discussed on and off in many places over the years, the trouble being those with addictive tendencies are rarely interested in looking at the motivating factors in the first place.
Thanks Mate, a very interesting article and difficult subject to cover. I think the fact you can talk about it as a successful trader who has had personal experience in some of the areas is quite inspiring for those of us who may also get caught in the loop. I know i have and its normally through chasing a loss or some emotional trigger that causes the tilt. The video and problems covered are a great reference tool to go back over again and again to keep your mind focused on what could be happening if you don’t use the recommendations you’ve set out to change those destructive behaviors .