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To enjoy playing at Stake.com, the practice of responsible gambling is crucial.
Responsible Gambling at Stake - Online Gambling Budget Calculator
To enjoy playing at Stake.com, the practice of responsible gambling is crucial. Whether you’re playing online slot machines or betting on your favourite live sporting events, you should set limits and only gamble what you think is reasonable and affordable.Here, we introduce you to our budget calculator, sharing some important responsible gambling tips to help you stay in control at Stake.com.
What Does it Mean to Gamble Responsibly Online?
Responsible gambling is about staying in control while playing casino games or placing sports bets. The practice of responsible gambling ensures that you are spending what you can afford to lose, balancing your time spent on gambling activities, and preventing it from becoming a problem.A good example of responsible play would be not chasing your losses after losing several bets in a row, and taking a break rather than continuing. It would be irresponsible to keep betting online or to raise your stake sizes in an attempt to mitigate your losses. To gamble responsibly, you need to practice self-control, but thankfully, there are also tools and resources to make it easier.We have various responsible gambling tools available to manage your gaming activities. You can also use our innovative budget calculator to create your own gambling budget.
How Do I Set Up a Budget to Bet with?
Before you start placing bets at Stake, we recommend setting a budget. This will make it much easier for you to control your spending and prevent yourself from getting carried away. Everyone is unique, and the amount of money you make available to gamble may be entirely different from the budget available to someone else. You should think about how much disposable income you have and how much of it you would like to spend on gambling each month. Our budget calculator can help you in this respect:
Online Gambling Budget Calculator
The Stake.com budget calculator is an innovative tool that helps you calculate your disposable income. You input your various sources of income and each of your monthly expenses, and our calculator shows you how much disposable income you’re left with.
Then, it’s entirely up to you how much of this disposable income you set aside for playing at Stake.com. Of course, you will have other activities, hobbies, and items that you want to spend your disposable income on, so you need to allocate a reasonable amount to each expense.
How to Use the Budget Calculator
The calculator is easy to use. Simply:
Enter the amount of income that you have in each box, including your wages after tax, plus any investments, benefits and pension. The calculator will then show you how much you earn in total.
Next, add your total expenses to the other side of the calculator, ensuring the details are accurate based on your recent bank statements. The box at the bottom of the screen will indicate how much disposable income you have.
It’s then your responsibility to decide how much of this disposable income you would like to spend on gambling activities. As mentioned, it’s entirely up to you how much or little to add to your account, ensuring that you are always comfortable with risking funds you are willing to lose.
You must never gamble more than your total disposable income, as this will mean you’re risking not being able to cover your expenses for that month.
Money Management Tips
To help you stay in control of your spending and avoid betting more than you can afford to lose, you can follow these tips:
Monthly Budget
Getting to grips with your finances is extremely helpful. Once you know your total monthly income and expenditure, you’ll be able to set a budget. When creating your budget, be realistic and ensure you’ve accounted for all possible expenses. Bear in mind that you may need to update your budget regularly based on new costs that emerge.
Deposit Limits
Setting a budget will give you an idea of how much you can realistically afford to spend on gambling, but deposit limits will help you stick to it. From the responsible gambling page, you can add a deposit limit, which will affect how much you can add to your account within a set time period. For example, you can set a daily limit of $100, which will mean you won’t be able to deposit more than $100. To increase or remove your limit, a 24-hour waiting period applies.
Limit Bet Sizes
While you’re betting, it’s important to limit your bet sizes to ensure you don’t overspend your budget. If you’re careful, even small budgets will be able to last a long time. One of the best low-risk gaming habits is to limit your bet size to a set percentage of your total bankroll. That way, your bets will decrease as your bankroll decreases, and increase as it increases. You can also set wager limits from the responsible gambling page, limiting the total amount you bet each day, week or month.
Knowing the Signs of Problem Gambling
While many people can enjoy online gambling responsibly and without issue, it’s so important to recognise when you might have a problem. Here are some gambling behaviours that suggest it might be time to get some help:
You go chasing your losses and don’t stick to your budget.
You get angry or overly anxious when enjoying online casino gambling or making sports bets.
You spend more time than you would like at online gambling sites.
You worry or think about gambling when you’re doing other things.
Your gambling habit is affecting your relationships or your performance at work.
You have got yourself into debt because of gambling.
How to Take Control of Your Betting Habits
Tracking your Progress
Stake allows you to see your full betting history, with casino and sports bets visible from the My Bets page. This will show you all the details of each bet, and for older bets, you can check the archive. It’s a good idea to regularly check your betting history so you have an idea of your gambling activity and how much you’re spending.
Adjust Responsibly
Setting a budget is extremely helpful, but it’s something you may need to adjust regularly as your income and expenditure change. If you’ve gotten a new job with higher pay, you might be able to increase your budget, but it’s also important to decrease it in the event of higher expenditure. You should adjust your bet sizes too, setting your stake based on your current bankroll.
Get Help
If you’re noticing signs of problem gambling in your behaviour, don’t be afraid to get help. Speak to a loved one about your gambling problem and look to responsible gaming platforms, helplines, and help groups for the support that you need to get back on your feet. There are a lot of resources out there to help, so don’t suffer in silence. The sooner you act, the sooner you can change your situation.
Loss Limits
From the responsible gambling page, you can also set loss limits for your Stake account. This will prevent you from playing more once your limit has been reached. For example, if you set a daily loss limit of $20, you won’t be able to keep playing that day once you’ve lost $20. Loss limits are a great way to stay within your budget and avoid betting more than you can afford to lose.
More Tips & Strategies to Gamble Responsibly
We want everyone at Stake.com to have an enjoyable experience on our platform. We refer you to our Stake Smart guidelines for additional responsible gambling advice and encourage you to educate yourself about what it means to retain control of your gambling activities. The following resources and tips can also help you to gamble responsibly:
Complete the self-assessment on the responsible gambling page to learn more about your gambling habits and determine whether you need to take any action. This is a 3-minute quiz with just 10 questions, and you can take it regularly to stay on top of your gambling habits.
Understand that gambling should be for entertainment purposes rather than making money. Although it’s possible to win money when gambling, the house advantage means that you’re unlikely to do so consistently over time. You should also be aware of gambling myths and fallacies that might make you take unnecessary risks.
Browse through our how-to guides to learn how to play casino games and place sports bets. When you know how to bet, you increase your enjoyment levels and reduce some of the risks associated with gambling. For instance, you can learn how to play casino table games, how to play live casino games and how to play slots. Our online casino guide and sports betting guide will also help you as you decide how much to bet, which games to play, and which sports to bet on.
If you want to take a short break from gambling, you can set up a time-out period of 24 hours, 48 hours, 7 days, 30 days, 2 months or 3 months. This will lock your account for betting, and you won’t be able to reactivate it until the time period has ended. If you feel you’re developing problem gambling habits, it’s a good idea to request the self-exclusion option, which will prevent you from gambling at Stake for a longer time period, up to an indefinite amount of time.
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