As the COVID-19 pandemic continues to disrupt everyday life, many people are still losing their jobs. With less money to spare, gamblers need to be increasingly careful with their hobby. From blacklisted sites to hidden costs, there are multiple opportunities to lose money.
Being stuck at home has caused gamblers to turn to online casinos. This could lead to players developing addictions and losing more than just money. Many are asking “How do I stop gambling?” As a response, Sweden has created new laws to help people control their spending habits.
1. Make Sure the Casino Is Legitimate
The number of unlicensed online casinos in Europe increased during 2020. These casino operators try to take advantage of players that have moved to online gambling and don’t know how to find secure sites. Your money and personal data could be easily stolen if you’re not careful.
Luckily, there are plenty of online casino directories for Sweden. Svenska casino scene is growing. These directories collect and rate licensed sites to help you select the one best suited to you. Our expert Amy Martinsson believes this is one of the most critical steps to keep your money safe. You can find her profile here.
2. Always Check for Hidden Costs
In a physical casino, it’s easy to exchange chips for money when you win. As online gambling becomes more popular, sites now have to deal with payment systems to transfer money. While depositing money into your account usually has no fee, these services often charge casinos more.
Players are sometimes charged for withdrawing their winnings to pay for these extra fees. The fees in question can come in many forms, but the most common is a percentage of anywhere from 2%–10%. Always check the FAQ menu for hidden costs when choosing a site so you don’t end up with less money than expected.
3. Set Limits for Yourself
Gambling is an exciting experience, and it can be easy to lose track of time. By limiting the time spent playing, you’ll lose less money and have more fun. You don’t have to stop gambling, but finding a second hobby like running or reading will help fill up the day.
Another helpful limit to set is on amounts that you spend and lose. This will help you not get carried away. Sweden set mandatory limits for online deposits in 2020, and these restrictions could become permanent laws. Most gambling commissions require their sites to offer self-exclusions programmes so players can control their spending.
4. Understand the Rules Before You Play
The thrill of gambling comes from the chance for anyone to win big—unfortunately, casinos design games to give themselves an advantage over players, which can vary between game types. You need to be aware of which games can put you in a losing position.
The house edge can vary wildly, from 0.5% on blackjack to 25% on keno. Beyond this, small changes like a higher payout ratio can increase the edge even more. Gambling from home can cause a greater number of losses, as popular online games like slots have a house advantage of up to 17%.
5. Seek Help if You Need It
Gambling addiction can cause people to lose all their savings and ruin their lives. Being familiar with the symptoms of addiction helps you identify if you or others might need help. The earlier someone gets helped, the less chance the problem has of becoming harmful.
There are many organisations in Sweden to help people learn how to stop gambling. Recently, the country’s public health agency has funded grants for gambling addiction. People struggling to control their under lockdown will be able to receive extra support.
The point of gambling is entertainment. While winning shouldn’t be the goal, there are still things you can do to stop casinos from taking all your money and keep the experience fun.