Responsible Gambling & Betting Report by BetZillion

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Accessibility to several online betting sites isn’t a reason to become an irresponsible bettor. You must bet responsibly to avoid becoming a gambling addict. This post analyzes research findings on responsible gambling initiatives in 2023.

2023 Responsible Gambling & Betting Research Overview

Over the last decade, gambling has evolved so much that it has become more convenient and enjoyable. The vast availability of betting brands online has allowed bettors to bet wherever they are, whenever they want.

Unfortunately, this evolution came with severe risks, the biggest being problem gambling. With the surge in bettors struggling with problem gambling, it’s only fitting that the government, gambling industry, and able individuals channel efforts toward minimizing gambling risks in society.
BetZillion has researched responsible gambling initiatives, current and future trends, and this post will analyze some of the key findings from their research.

Key Points on Responsible Gambling Research

Responsible gambling is a collective action that involves individuals, the gambling industry, and the community to reduce uncontrollable gambling in society. It is an initiative aimed at preventing gambling addiction and reducing the number of bettors already suffering from it.

Our research reveals that there are many individuals approaching gambling for reasons beyond a source of entertainment. These individuals gamble purely for economic and psychological reasons. For example, some people bet to win a huge payout to elevate their financial status. Others bet to escape mental issues like depression and anxiety.

Unfortunately, betting for either reason can become problematic. Failure to manage betting activities and reduce expectations ultimately leads to problem gambling. That’s why responsible gambling is a crucial responsibility for all bettors. Responsible gambling from individuals entails:

Gambling for entertainment reasons only
Setting a specific budget for the money you’re only comfortable losing in a month.
Taking constant breaks from gambling
Gambling with an amount you’re comfortable losing.
Not taking gambling as a source of income.

The government also has duties towards responsible gambling, and it’s good that some of the countries are already taking giant strides in eliminating gambling addiction within their nations. One of BetZillion’s partners submitted:

There is a growing trend globally of countries taking legislative action to tackle gambling addiction. For example, some countries have introduced regulations on advertising, set limits on stakes and prizes, and implemented measures to prevent underage gambling. Additionally, many countries have established national organizations and hotlines to support and treat individuals with gambling problems.

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Facts Against Myths about Gambling Addiction

The research reveals that there are numerous myths about problem gambling, and below are some of the most prominent ones:

Myth 1: Becoming a gambling addict entails daily gambling without a break.

Fact: You can gamble frequently or infrequently and become a gambling addict.

Myth 2: Gambling isn’t a problem so far as the individual can afford it

Fact: Financial difficulties aren’t the only consequence of gambling. Spending much money on gambling can also cause job loss, relationship issues, and mental health issues.

Myth 3: Becoming a gambling addict is a case of lack of intelligence and weakness

Fact: Irrespective of mental and emotional strength, anybody can become a gambling addict. People considered as intelligent and strong-willed are as likely to become gambling addicts as those that aren’t.

Responsible gambling will always be a concern for the industry due to human nature and the sheer accessibility the internet has provided. It is difficult to balance proactivity with respecting the freedom of choice adults are entitled to make.

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How to Always Observe Responsible Gambling

Responsible gambling is the most effective way to manage activities, and there are several ways to observe it. Below is a well-researched list:

Take gambling as a form of entertainment you pay to enjoy. For example, you can think of it the same way you think of buying a ticket for a fair ride. The fundamental idea is to enjoy your time and experience on your bookmaker’s platform.
Set a limit for the time you spend betting, whether winning or losing. Ensure you adhere to the time limit to make time for other exciting and important events in your life.
Avoid chasing losses because winning from gambling is random. Some days, you’re up, winning the majority of your wager. On other days, you’re down, losing as much as you wager. Whatever the case, ensure you gamble within a budget and never exceed it.
Whether you’re using cash or e-payments, never gamble with money you don’t have. It is the easiest way to fall into financial desperation and difficulty because of betting. Also, avoid borrowing to gamble.
Refrain from motivating yourself by embracing a gambler’s fallacy that states that the subsequent outcome will be better than a previous bad outcome. Gambling is by chance, and each outcome of every event is independent of one another.

We can only work harder with the correct department and communicate and educate punters more on the addiction and ways to get help.

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How BetZillion’s Partners Contribute to Responsible Gambling

BetZillion’s partners are invested in offering a great user experience through excellent betting products and service delivery.

But that’s not to neglect the risks associated with gambling.

Each partner creates a safe betting environment that enhances responsible gambling.

Below are some of our partners’ statements about their commitment to responsible gambling for all their customers.

We have implemented responsible gambling measures, such as setting deposit limits, offering self-exclusion options, and providing information and resources on responsible gambling.

The 1Win Sportsbook

To address gambling addiction, our dedicated support team is available to assist users who may be facing challenges with addictive behavior. When requested, our support team can set betting limits for individuals who require additional control over their gambling activities. We aim to provide a responsible and safe gambling environment by implementing these limits. Furthermore, we can implement temporary or permanent bans for individuals struggling with gambling addiction if necessary. These measures are implemented to support users in refraining from engaging in potentially harmful behavior and seeking the necessary help and support.

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BetZillion also participates in various conferences to acquire more knowledge about responsible gambling. We attend events like the Sustainable Gambling Conference for insights on newer ways to help addicted gamblers. Furthermore, our team of researchers diligently monitors and assesses prevailing trends, conducts surveys, and analyzes statistics. This commitment ensures that we furnish our readers with credible and authoritative insights into responsible gambling.

We have undertaken the extensive 2023 Responsible Gambling & Betting Research to offer a comprehensive and inclusive overview of this initiative. This report covers a broad spectrum of subjects within the sports betting industry, including insights into the factors contributing to gambling addiction, personality traits that may increase susceptibility to gambling addiction, common misconceptions related to problem gambling, and proven self-help and treatment strategies. For more information, please explore additional details on our website.

Autor: Tim Harrison

www.betzillion.com