Crypto sportsbooks and online crypto casinos often provide more freedom, safety from prying eyes like nosy credit card companies, and an ability for you to handle your money more easily. All of those things are excellent reasons to play in a crypto sportsbook. But in the Crypto Era of Gambling, there are also pitfalls. The same gambling pitfalls that have turned some of us into addicts exist in the crypto gambling space. So that we all remain safe, we’ve put together responsible crypto gambling tips that should ensure we never fall into the addiction trap.

Responsible Gambling in the Crypto Era: Promoting Safer Betting Practices

Set boundaries and stick to those boundaries

The first thing to do, no matter if you’re a casino or sportsbook player, is to set a betting unit. You never surpass your set betting unit.

You can always bet less than your betting unit, but you never bet more. By betting unit, we mean the single unit you place on a game. So if you’re betting unit is $100, and you like the Cowboys to cover versus the Eagles, you can bet up to $100 on the Cowboys against the spread.

We can think of betting unit for casino games in terms of your bankroll during every game session. So if you have $1,000 in your casino account and your betting unit is $200. You only play up to $200 during any given session.

Set boundaries and stick to those boundaries

Make a commandment to never chase

Chasing will put you in the poor house. It not only will kill your betting bankroll but it could have a disastrous affect on your every day life.

When we chase, we try to make up for losing plays by, often times, doubling our next play. Chasing is the worst thing we can do as gamblers. The main reason is that we’re making decisions after a negative outcome.

Our decision-making process as human beings requires us to be fully in control, calm, cool, and collected. Without the Four C’s, we make bad decision in life, much less betting on sports or playing craps.

Right after a bad beat, the last thing we should do is look for another game to bet. Instead, we should do something that has nothing to do with gambling. Then, when our heart rate has slowed, when we’ve put the loss behind us, we can again start handicapping games.

Keep track of cash flow

If we want to make money gambling, we have to understand how money works. The two most important words to know when it comes to how money works are cash flow.

Cash flow is the amount of money that flows into your accounts, bank account, investment account, and gambling account. It’s also the amount of money that flows out of your accounts.

To profit, you want to keep more money going in then what goes out. The U.S. is a credit and debt nation, which means we use credit cards to fund purchases and then pay off the debt we accrue.

We want to change this way of thinking. It’s not easy because the credit and debt solution to our issues has been ingrained into our brains. It’s what keeps the cash flowing for corporations and state, local, and the federal government.

But if we do change from thinking credit and debt to thinking cash flow, we’ll begin to understand how choosing one play over another affects what we bring into our gambling account and what goes out. That will help us make smarter betting decisions.

Seek help if you become overwhelmed

There isn’t a sportsbook left in the world that wants to see their players hurt. Sportsbook and casino operators understand that keeping their players happy and healthy is the best way to create long term customers.

So if you feel overwhelmed, if you feel you’re slipping into the addiction rabbit hole, the first thing you should do is discuss the situation with the account rep at your sportsbook or online casino. They will understand, and they will help you manage your gambling habit.

Plenty of times pro handicappers have had to manage themselves by asking to be cut off from the racebook, or casino, or sportsbook, or all three so they don’t bet the rent money. You wouldn’t be the first. There’s no shame in asking for help. In fact, it’s brave to do so.

So if you feel like your gambling is getting out of control, call your sportsbook rep first so they can help you manage the situation.

Where to Bet with Crypto

Sports betting odds are available here at Nitrobetting. Create a Nitrobetting account now to place your stakes on any of the top games every week.

This is just one of the many sports betting guides that you can read here at Nitrobetting news. Stay tuned for more previews, guides and articles.

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