With the legalization of single-event betting and the explosion of online betting sites, the popularity of sports betting is rising by leaps and bounds across Canada and here in PEI too. Sports fans have eagerly embraced this new and exciting way to engage with their favourite teams and players.
For most fans, safely placing bets can make watching the game with friends more exciting and enjoyable. Some fans, though, can get too caught up in chasing the excitement of winning a bet.
Sports betting comes with risk, just like other forms of gambling. But there are some additional risk factors specific to this type of gambling which can elevate risk of harm even further ...
- With online sports betting, access is available 24/7 on any mobile device making it easier to keep betting non-stop on games or matched across the globe.
- Live or in-play bets can be especially harmful. These types of bets are more intense and fast-paced, which can lead to more spending in a short time.
- Betting on sports can also make the bettor feel a sense of false control over the outcome – they believe their knowledge of the game will help them win.
- Advertisements for sports betting and betting platforms have exploded across televised sports and social media alike. This aggressive marketing has shown links to further developing risky betting habits, especially for young men, who are the targets of these ads.
The Responsible Gambling Council (RGC) says sports bettors at a higher risk of experiencing gambling problems generally share the following traits:
- Young adult (18-34 years old) male
- Single
- Full-time student or employed
- Gamble in other ways (e.g., online poker, slots, lottery)
- Often take advantage of promotions, like sign-up bonuses
- Have friends who like sports betting
Knowing if your betting habits are becoming un-safe and how to lessen your risk is crucial for avoiding potentially harmful consequences. Anyone who bets on sports should use healthy play betting strategies to lower their risk of developing harmful habits.
Some simple strategies include:
- Setting a budget and limiting your access to money.
- Setting a time limit and sticking to it.
- Limiting your alcohol or other substance use before and while betting.
- Taking breaks from gambling and planning activities after you bet to limit your time spent betting.
- Never trying to win back the money you've lost
If you or a loved one has questions or needs support with gambling, reach out to the PEI Gambling Support Line at 1-855-255-4255. It's free, totally confidential and available 24/7 to help you.