How To Avoid Gambling
Matched Betting is a risk free way of making money from the many online bookmakers we have here in the UK. Using them however does mean that there will be times where you may have plenty of money in your accounts, and so for some people there will be a temptation to gamble. This guide will hopefully help curb those temptations, and offer advice on how you can potentially avoid getting into a bad situation.
Every Free Bet Is Cash
Whenever you get a free bet, do you always lay it? Do you always put the numbers into the matched betting calculator and guarantee profit from the free bet? Now and then you see someone posting punts with their free bets, such as £5 on a random accumulator or £10 on who's going to score the first goal. They claim that because it's risk-free, there's nothing wrong with it. The thing is, this is gambling. Yes, you have taken £0 qualifying loss to acquire a £10 free bet but you are still gambling. How?
At 80% retention a £10 free bet can be converted into around £8 profit. So if you punt a £10 free bet that you got for nothing on say England to win the World Cup, then you are essentially betting £8 of your own money on England. That £8 is yours right now, you can take it. You have a £10 free bet, so you basically have £8 cash. It's already banked. But if you then go and gamble that £10 free bet, you're throwing away £8 in hope that England win. It's gambling and you should not do it. You should lock in every free bet, no matter what the value. If it's under £2 don't forget you can lay it on Smarkets as their minimum bet is 5p.
Turn Off Sounds & Minimize Screen
Lots of bookmakers push casino promotions by offering free spins and bonuses, which in turn can lead people astray and start gambling. The main culprit of this are the slot machines!
Slot machines are designed to suck you in and keep you playing as that's how the bookmakers will make their money from them. The only time that we, as Matched Bettors, play slots is when there's a promotion that we can take advantage of. At no point should you ever play slots with your own money unless doing an offer. They use sounds, flashing animations and "exciting" bonus rounds to grab your attention and keep you there betting with them as the odds are massively in their favour. The average slot is say 95% RTP which means every £100 you pump through it, you'll get £95 back on average thus losing £5. So as you can see, they're not profitable unless you're doing an offer, and should never be played for "fun". They are money burners and if you enjoy playing them then you might as well just set fire to your wallet right now.
A slot is a glorified random number generator. It's simply a computer program that will tell you if you win or not, but they mask it with all of these gimmicks and sounds to make it seem like you have a better chance winning and to "enhance" your gameplay. Do not fall into the trap of enjoying slots as people end up playing them without an offer, and can lose a lot of money!
So what's my advice?
1) Turn the sound off - The sound is one of the factors that causes people to keep playing slots. The music is made to attract you to the game and keep playing it. Some of the slots have chilled music to relax you and keep you betting, others have the type of music to literally zombify you and make sure you're sat there for as long as possible playing the game
2) Use Autospin + Minimize game - Watching the slot can be addictive to some people. This is a bad thing to do as you will also be watching every spin and when you have a run of losing spins you might decide to chase your losses. The best thing to do is to use the auto spin feature so you don't have to click and watch each spin. Then either minimise the screen and come back to it later, or make it smaller. Some slots won't spin whilst the window is minimised so simply make it smaller (but keep it open) and it will work. If you hit a bonus round on certain slots they'll require you to interact with them in some way. Just keep checking it every 5 minutes or so to see if you hit a bonus round.
"Just one more spin"
Whether you've been using bonus funds or free spins with offers, the advice is the same. As soon you've finished the promotion, STOP! It's far too easy to keep clicking spin and do 1 or 2 more. Don't let this happen as you can start losing and will almost always end up chasing the losses. One more spin will turn into 2, which will turn into 3, which will turn into 10, and before you know it you could be down around 20 spins in value - so please, when the offer is finished, whether you're up or down, stop.
Don't Chase Losses
This has got to be one of the most obvious things but one of the hardest things to do. Most casino offers we publish are fairly low risk, however you might lose money on the higher risk ones despite winning in the long run. Whenever you lose money, the natural reaction for anybody is to want it back. It's just human nature, and the way we all think we can get it back is by hopping onto blackjack or roulette and doing say £5 hands or £10 hands. The common misconception is that roulette and blackjack can make you a quick buck but that's simply not the case. They are just the same as slots - the odds are in the casino's favour and they're based on random number generators.
There's been plenty of horror stories posted over the years on various forums about people chasing losses. £5 can turn into £50 which can turn into £500 which can turn into £5k. It can happen, and it does happen. If you ever feel like your chasing losses then simply stop - and read the next part.
Walk Away, Think, and Record
As I've mentioned above, you shouldn't be gambling with your own money, and you shouldn't chase your losses. Unfortunately advice is easy to give but not always as easy to follow. If for whatever reason you've gambled and you've lost money, be it £50, £100, or even £1000, you simply need to stop, get up, close the laptop, and take a walk. It's easy to say, but do it. You will be angry and you'll want the money back, but chasing makes things worse.
When you've walked out of the room, look at the bigger picture. You've been Matched Betting for however long and have gambled a bit, or a lot, either way it's done. If you chase you'll lose more, whatever you've just done is in the past. Matched Betting is still there and with a little discipline you will be able to pick yourself up and carry on - make back what you lost plus more.
One thing someone suggested before that helps is to record your losses. As silly as it sounds it's actually a really good idea. If you write down how much you've lost, you're very unlikely to do it again. It will be a thing to reference when you next get the urge, and will tell you not to do it again. You should definitely get into the habit of doing this, and, if you find that you're recording gambling losses a lot, then you're simply gambling too much. You should never have to do it, but if you do it should be once only. People will sometimes gamble once, lose a lot, say they'll never do it again and then a few months later do it all over again. Whatever situation you're in - record it. And NEVER do it again.
Stop Matched Betting
This is a bit of an odd statement to make as we are a Matched Betting website and we're telling you to "stop matched betting". Well - for a lot of you, you will never have placed a bet before signing up to Team Profit. That means we've introduced you to the world of bookmakers and betting and so have a duty of care to make sure you're not vulnerable to gambling. What we do is risk free, but seeing money in bookmaker accounts will make people want to gamble. Even if it's a few quid here or there on accas, or some spins on slots, it all adds up and if you are gambling like that, you'll realise you're either not making money or you're losing over all.
So if you do have a problem and it keeps happening over and over again, then the best decision is to just remove yourself from the situation all together. And we really mean it. Stop using team profit, stop using oddsmonkey, and stop using the bookmaker websites. It's simply not worth your time as you're just losing money and your mental health is far more important. Stop betting all together and the problem will not be there.
And if you do feel like it's becoming a big problem, then there are places you can get help. Please see one of the websites below.
There are 3 ways to ask for help with Team Profit:
Live Chat - Chat with one of us any time we're online. See the chat module at the bottom right of site.