Betting on sports can be fun, but if you let it get out of hand, you could be in a world of hurt.
SAN ANTONIO — Watching the Spurs march to victory in the playoffs is thrilling for your average fan, but for those betting on the games, when they win, the thrill can include more fun and fireworks. But, if you don’t do it responsibly, your bets could break your bank.
The National Council on Problem Gambling says if you do plan to bet on the Spurs or any sporting event, to make sure to treat gambling as a recreational activity, not a legitimate way to make money.
Ryan Butler, a senior editor with Covers, a sportsbook gambling site, told us, “With these sports books, you’re not going to get rich off of realistically, it’s not a career. It’s not a replacement for investment. It is a form of entertainment, disposable income, entertainment. And that’s exactly how it should be treated.”
Experts say you may have a problem if you are gambling on credit cards, if you are borrowing money from others to fund your bets or if you gambling interferes with your job, relationships or your personal responsibilities. If you’re new to sports betting make sure you know how the platform you are using works, as well as how the different types of bets work, like the money line, the spread or the over/under.
Some strategies for safe betting: Set a strict budget, making sure to only gamble what you can afford to lose. Never chase losses, betting bigger each time to recoup what you may have already lost. Stick to a standard bet size, such as a set dollar amount per bet, or a percentage of your total bankroll. Bet with your head, not your heart to avoid betting emotionally. And do your research to make sure the bet you are placing is the one with the best odds of winning. Butler added, “The more information you have, but not only just knowledge about sports, more importantly, knowledge about the odds you’re really facing, what you’re looking at and the probability with it.”