- How can limits help you enjoy betting?
- How do account limits work?
- Why should you use account limits?
- Learn more about the types of limits available.
For too long the use of limits has been viewed as a sign of weakness and something only those who have a problem would use. If that is your opinion, it is time to change your mindset and start making use of the tools that are available to you, and really enjoy betting responsibly. We have all had times where we may have looked to chase losses or betting under the influence. These types of behaviours are only going to have a negative impact on your betting. When used properly, account limits will enhance your experiences and create a much more sustainable future for your long-term betting.
How do the limits work?
Account limits restrict access to certain features on your account once a threshold has been reached for a set time. One that period has expired, the limit resets and you can play/deposit again until you meet the threshold again. You can amend your limits through your account settings. If you wish to increase the amount of time or money you can spend, a 24-hour cool off is also applied. This is to prevent impulsive decision making. If you wish to decrease the amount of money or time you can spend, the limit will be adjusted immediately.
Why should you use account limits?
Betting is a form of entertainment. As with any activity, you should ensure the amount you spend on it does not impact on other commitments you have. This is true financially as well as actual time spent doing the activity. This is where account limits come in, they offer financial control as well as the ability to limit the amount of time you spend betting. Let’s look at the type of account limits you can use.
Deposit Limit
This is the most used tool and is a compulsory limit which operators must provide access to. The tool works by letting you place a limit on how much money you can deposit into your account over a period of a day, week, or month. If you placed a £100 monthly deposit, once you have deposited £100 you would be unable to make any further deposits until the following month.
To get the best out of this tool you should look to use a variety of limits across the time periods that are available. By doing this you will ensure the budget you have set yourself for gambling is spread out evenly across the month. For example, if you had a set yourself a limit of £200 per month you can place a deposit limit of £50 per week.
Deposit Curfews
This tool allows you to control how and when you spend your budget. By setting a deposit curfew, you can block the deposit function on your account for short periods of time. If you have planned nights out with your friends at the weekend, that should be your priority. If you have had a few beers, its never a good idea to go home and start betting and a deposit curfew can help you avoid those situations.
Session Timers and Reality Checks.
Controlling your time spent on betting is as important as setting financial limits. Betting should work alongside other entertainment activities be something which takes up too much of your time. By placing a session timer on your account, you can ensure this happens. Once you have reached a set time, your account will automatically log you out. When it does, take a break and focus on something else.
Reality checks work slightly differently. They provide a pop up on screen when you have been using your account for a set period. You will then have the option to stop playing or dismiss the pop up. These helpful reminders can help you keep track of the amount of time you have been online.
Loss Limit
On the face of it a loss limit would imply you can limit the amount you can lose. Whilst this is technically true its far more complex than that and should only be used if you fully understand the term “Loss”. This tool works by looking at your net figures when it comes to losses and that is important to remember.
Net losses are the amount you have bet, minus the amount you have won. If you started with £100 in your account and following some winners, your account balance showed £250. Your net profit would be £150. If you placed a loss limit of £100 on your account, you would actually have to lose your winnings and then the original £100 for the limit to come into force as only then would you have a net loss of £100.
Product Blocking
Identifying what you want to bet on before you place bets is important. Placing bets should be based on research and using your own judgement and knowledge. If you do not want to use certain products it is best to block them from your account. This allows you to focus on the markets you want to bet on and removes options which you are not interested in.
As punters, it is time to view betting as the entertainment activity it is. Adding account limits can help you enjoy betting, in a more sustainable way. We have the power to use betting as a way of enhancing our experiences. Account limits are for punters who want long-term enjoyment and a behaviour we should be proud of. Go onto your accounts, have a play with some of the tools you have at your disposal, enjoy betting, and let us know how you got on!
[…] You can also use your account tools to help you. They will remove the ability for you to act impulsively. Some operators allow you to set stake limits which work well alongside this type of system. Check out our article on account limits here and how they can help you here. […]