Responsible gambling in sports betting: All you need to know

By James Walters

Sports betting can be an enjoyable and exciting way to engage with your favourite sports. However, it’s crucial to approach it responsibly to avoid potential problems.

Simply put, when betting, there is never a guaranteed winner. You may think you've found a sure thing but we all know the unpredictability of sport and as a result, sports betting.

Sports betting operators will often offer boosts on best that look like certainties and the change in odds might draw your eye, however, some of these bets will still lose.

By knowing when to stop and adhering to responsible gambling principles, you can enjoy sports betting in a safe and sustainable manner, while also enhancing your overall experience.

Here at FIRST, we want to give you the best insights and tips to find value bets in as many sports as possible. We offer valuable knowledge for the casual sports bettor as well as experienced gamblers who have a track record of picking winners.

We feel a responsibility at FIRST to remind you to always keep responsible gambling in the back of your mind and below we have numerous tools to help put those ideas into practice.

Understanding sports betting

There can be a thrill when betting on sport, especially when you land a winner, but you must understand the risks involved.

The balance in your betting account can often just feel like a number rather than tangible money and with the introduction of online sites and apps, it's easier than ever to deposit and place bets. Once your bank card is linked to a betting account, all you need to do is put your desired deposit amount in, a couple of bank digits and you can place your bets.

Live in-play betting, such as a football team to score the next goal in a match or a certain player to commit a foul or be shown a card, has also been heavily linked to betting problems.

In sports where the event may last a short period, for example, horse racing, your bet could last just 30 seconds before your betting account is empty after depositing money just a minute previously.

It's always important to remember you're doing this for fun and entertainment, so you need to know when to stop. It is essential to recognise the signs that indicate a potential betting problem.

Signs to look out for if you have a problem

There isn't a gambling problem definition that works for everyone as every individual is different, however, there are numerous signs to keep an eye out for if you or someone you know is showing signs of having a betting problem.

An obsession with betting while also betting beyond your limits are signs you could have a problem. If the person is irritable when they can’t bet on sports or if they are defensive when asked about their betting habits, they could have an issue.

Chasing losses, gambling with money that is needed for essentials rather than funds for entertainment and lying about the extent of your gambling habits all point in the direction of you needing to take a break and get help.

If you are experiencing negative emotions such as guilt, stress, anxiety or depression when betting on sports then it's imperative that you seek help. You should never place a bet if you're feeling any of these emotions.

Resources available if you have a problem and how to get help

Getting help for gambling problems can range from self-help resources and support groups to professional counselling services. It is essential to understand and manage emotions effectively when engaging in sports betting, as impulsive decisions driven by strong emotions can lead to negative outcomes.

If you feel you may have developed or you are starting to develop a gambling problem, you can visit Gamcare.org.uk, who offer online and telephone help, while also providing counselling for those in need.

They also have a test on their website to assess your sports betting and your gambling behaviour. They will give you a breakdown of how your gambling is affecting you while offering recommendations and solutions.

Gambling Therapy are another organisation that offer support to people with gambling problems. Their online help is available in numerous languages and they also have a free app to download on iOS or Android.

Gamblers Anonymous also provide support and you can attend meetings to discuss your problems to reach a positive solution with other people that are struggling with similar issues. Sometimes just talking about the problem can ease your mind.

Finally, if you feel that sports betting is taking over your life and you don't know where to turn, Samaritans are always available. Their phone lines are open 24 hours a day, 365 days a year. They take millions of calls and emails per year and they're here to help without any prejudice or judgement towards your situation.

Strategies for avoiding problems and self-exclusion

Numerous strategies can be implemented to help avoid betting problems. Setting limits on time and money spent on betting, as well as taking regular breaks, are effective methods to avoid issues. Always bet within your budget and remember to stay in control. You can set a daily, weekly or monthly deposit limit on your betting account. There's also an option to set a loss limit so if you're on a bad run, the damage is limited and it stops you from chasing losses.

You can also take a break, which suspends activity on your betting account for a specified period, which is usually up to 30 days. There's also a self-exclusion option, meaning you won't be able to access the site, or a particular section of it.

It's also worth noting that responsible gambling applies to bettors who have won. If you've won a sports bet and aim to continue to keep that high, you could end up losing your winnings and more. You could make an ill-informed decision, while some bettors could end up increasing their stakes after feeling more confident following a win.

Gambling laws and regulations

The Gambling Commission oversee sports betting in the UK and the legislation governing gambling is the Gambling Act 2005. Sports betting is vastly regulated to ensure bookmakers comply with the right codes of conduct and hold the requisite licences.

Sports betting companies should always allow bettors to make an informed decision on their selections. Odds and payouts should be made clear on their website and app, while terms and conditions must always be available.

Gambling cannot be misleadingly promoted to make bettors feel the win is guaranteed or that there is a higher chance of winning when that isn't the case.

Betting trends and patterns for online sports betting companies will be tracked, meaning an individual could have their account restricted or suspended to avoid further bets being placed. This usually happens if an individual is placing frequent bets with large stakes.

There's also an aim for gambling companies to limit their advertising and sponsorship exposure to people under the age of 18 and vulnerable individuals in the hope of preventing betting problems.

Sponsors should promote responsibly and with awareness, while funds from gambling sponsorships will be reinvested to benefit fans and communities.

There's also a responsibility on sports teams to look after their players and focus on their welfare. In recent years, numerous high-profile football players have been banned from playing after placing bets, with some being on their own team.

The Premier League, the FA, the English Football League, the Women’s Super League and the British Horseracing Authority have agreed to implement new practices with the aim of limiting gambling problems in the UK.

Financial management tips

Sometimes it may not be as easy as just walking away, but there are financial management tips that can be beneficial to bettors. Keeping track of expenditure, both profits and losses, setting a budget and avoiding borrowing money to gamble are crucial in maintaining control over your finances and betting.

Sports betting can often be different to other types of gambling as luck plays a bigger role in casino betting with the likes of slot machines and roulette. However, remember that luck still plays a part in any sports bet that you place.

For example, if you are betting on the Premier League, there will be plenty of information, statistics and betting tips, including those here at FIRST, available to help develop an informed opinion. That's different to gambling on a slot machine where it's entirely down to chance.

FIRST will offer valuable insight, data and expert opinions on sports to help you before placing a bet to ensure your user experience is as good as it can be. However, you must always bear in mind that sports betting isn't guaranteed and it's still gambling. We want to ensure that betting remains an enjoyable activity, without causing harm to yourself or others.

If you ever feel that gambling is taking over your life, do not hesitate to seek help and make use of the resources available.