Frequently Asked Questions: How Do I Budget For Sports Betting?

Frequently Asked Questions: How Do I Budget For Sports Betting?

Do you want to know how to work out your betting budget? Well we’re here to tell you that it’s one of the best things you can do.

Darts fans often like to place a wager on a big tournament. And maybe your interests move out of darts and into other areas, like other sports, bingo, casino or poker. If you add up all of those bets, it could turn out to be quite a pretty penny.

As long as you aren’t a problem gambler, placing the odd bet is fine. But of course, you need to make sure you can afford it. And that’s why it’s so important to work out your betting budget.

Frequently Asked Questions: How do you work out your betting budget?

What is the first thing I need to do to work out my gambling budget?

First things first, figure out how much you spend in total on gambling. This could be per week, month or year. Remember, be honest with yourself. Look at all angles of this, from sports, casino, poker, bingo. Online and offline. Everything you spend counts.

Some months you might spend more or less. Best to work out the average over a period of time to see how much you tend to spend. It’s easy to find out your transaction history on online betting sites, just go to your account for the rundown.

Then for offline spends, take a close look at your bank statements and receipts to add up your spends there.

How do I work out my disposable income?

The amount you spend on your gambling budget depends heavily on your disposable income. To figure out what that is, you’ve got to add up your gross income (after taxes). Then you also need to take out major living expenses, including rent/mortgage, bills, grocery shopping, insurance, pension, utilities, loan repayments, childcare, education fees, and all the other non-negotiables you spend money on.

Then add up all your discretionary spends. This includes money you spend on hobbies, gym memberships, cinema trips, socializing, going to restaurants. All that fun stuff.

And you’ve also got to figure out how much you want to save every week, month or year. Remember, everyone should aim to have 3-6 months of savings readily accessible in case of an emergency. Especially if you’ve got a big expense on the horizon or you want to splash out on something in the future.

What you’re left with is the absolute maximum you could spend on gambling. But this isn’t what your gambling budget should be, necessarily. Add a little bit more into your pension fund and savings until you’re left with a figure you’re comfortable with.

Get the help you need with a gambling problem

Even if you never spend over your gambling budget, it’s still possible to have a gambling problem. It’s a scary reality, but it’s true.

The good news is that there are lots of professional organizations that can help. In the United States, you can contact the National Council on Problem Gambling on the phone at 1800 522 4700 or online. If you’re in the United Kingdom, you can talk to Be Gamble Aware at 0808 8020 133 or online.

Alternatively, there are lots of other organizations around the world that you get help from.

For more responsible gambling guidance, take a look at:

Read More
7 Things You Should Know About Time Outs In Online Gambling

7 Things You Should Know About Time Outs In Online Gambling

Online gambling time outs might seem a little confusing at first, but really they’re not.

Whether this is the first time you’ve ever heard of them or you’ve been thinking about taking one yourself, we hope these 7 facts will help illuminate things for you.

1. You can’t place bets or deposit during a time out

This might seem pretty obvious, but during the time that you’ve chosen to take a break, you can’t place any wagers on your online gambling site.

And you also can’t deposit to fund your account during this time either.

2. Online gambling time outs are short breaks

Unlike self-exclusion, online gambling time outs are designed to be short breaks, after which you typically resume gambling.

3. Typically, a time out is between 24 hours and 30 days long

Depending on your online gambling site, a time out last anywhere from a day to 30 days.

4. You can also set custom and recurring time outs

Now this is a feature we love. In many online gambling sites, you can decide to set your own custom time outs. For example, it could start on a Monday morning and finish up on a Friday evening, for those who don’t want to gamble during the working week. And it can be recurring so it always starts and ends at the same time every week. Very handy.

5. There’s no way to reverse a time out

Once you’ve chosen a time out, you can’t cancel it. The only way to gamble again is to wait until the time period has lapsed.

6. You can withdraw whenever during an online gambling time out

It’s really handy that you can withdraw whenever you want during an online gambling time out. It’s not like your available funds are locked up. Simply log in and get out however much you need.

7. Time outs are for everyone

As you can see, time outs are handy responsible gaming tools that you can set to suit you. It’s a really smart way of time (and budget) management and keeping it straight in your head when you want to gamble and when you don’t.

Whether you set a custom time out for the working week, like we previously discussed, or you set one in the run up to a vacation to save or for any other reason at all, it’s a great idea to set a formal time out.

Just try it out and you can see how it works for you.

Get the help you need if you think you have a gambling problem

While online gambling time outs are brilliant for people who want to take a casual break from gambling, they aren’t designed to tackle a gambling problem.

If you think you have a gambling problem or you’re worried about a loved one, you need to get help from professional organizations. They are equipped to guide you or your loved one through dealing with a gambling addiction.

There are many excellent resources all over the world, including the National Council on Problem Gambling in the USA. As well as brilliant online resources, you can also phone them directly at 1800 522 4700.

In the United Kingdom, you can call 0808 8020 133 or visit the Be Gamble Aware website for help. And if you’re outside of the USA or the UK, there are lots of other organizations all over the world that are ready to help you.

Read More
Twister Tournaments Are Your Key To Bet365 Poker Cheltenham Freeroll Tickets

Twister Tournaments Are Your Key To Bet365 Poker Cheltenham Freeroll Tickets

Bet365 Cheltenham Sweepstake

bet365 Poker Cheltenham Champions – Complete missions and receive up to two freeroll tickets every day throughout the 2022 Cheltenham Festival.

Cheltenham Festival Freeroll at Bet365 Poker

Significant Offer Terms and Conditions

  • Cheltenham Champions runs from 10:00 GMT on 14th March until 15:29 GMT on 18th March 2022.
  • Qualifying periods run daily from 15:30 GMT until 15:29 GMT the following day, with the exception of the first, which runs from 10:00 GMT on 14th March until 15:29 GMT on 15th March 2022.
  • In order for play to contribute towards mission completion, you must play in Twister tournaments with a minimum buy-in of €5 and stakes must be made on qualifying slots within the poker software. Please see Full Offer Terms and Conditions for a list of qualifying slots.
  • Each mission can be completed once per qualifying period, and you will receive one freeroll ticket for completing each mission. You can get a maximum of two freeroll tickets per qualifying period. Full details on available missions can be found in the Missions section of the poker software.
  • All freeroll tickets received as a result of Cheltenham Champions can only be used to enter freerolls with the corresponding name. If unused, tickets expire once registration for the relevant freeroll closes.
  • Freeroll prize-pool payouts are instantly awarded and based on the number of entrants. Details of prize-pool payout structures can be found within the tournament lobby of the poker software.
  • This offer is only available to new and eligible customers.

For more information about all offers please visit the bet365 website.

Read More