How Much Should You Gamble With? Budget Calculator & Responsible Gambling Tips
To enjoy playing at Stake.com, the practice of responsible gambling is crucial. Whether you’re playing online slot machines or betting on your favourite live sporting events, you need to set your own limits and only gamble what you think is reasonable and affordable.
Here, we introduce to you our budget calculator, sharing some important responsible gambling tips to help you stay in control at Stake.com.
What is Responsible Gambling?
Responsible gambling is about staying in control while playing casino games and making sports bets. The practice of responsible gambling ensures that you are spending what you can afford to lose, balancing your time spent on gambling activities, preventing it from becoming a problem.
We have various responsible gambling tools available to manage your gaming activities. You can also use our innovative budget calculator to create your own gambling budget.
How Do I Know How Much Money to Gamble With?
Every person is unique, and the amount of money you make available to gamble may be entirely different for the budget available to someone else. You should think about how much disposable income you have and how much of it you would like to spend on gambling each month. Our budget calculator can help you in this respect:
Budget Calculator
The Stake.com budget calculator is an innovative tool that helps you to calculate how much disposable income you have. You input your various sources of income and each of your monthly expenses, and our calculator shows you how much disposable income you’re left with.
Then, it’s entirely up to you how much of this disposable income you set aside for playing at Stake.com. Of course, you will have other activities, hobbies, and items that you want to spend your disposable income on, so you need to allocate a reasonable amount to each expense.
How to Use the Budget Calculator
The calculator is easy to use. Simply enter the amount of income that you have in each box, and the calculator will show you how much you earn. Then, add your expenses to the other side of the calculator, and the box at the bottom of the screen will indicate how much disposable income you have.
It’s then your responsibility to decide how much of this disposable income you would like to spend on gambling activities. As mentioned, it’s entirely up to you how much or little to add to your account, ensuring that you are always comfortable with risking funds you are willing to lose.
Money Management Tips
Here are some simple steps you can take to improve the way that you manage your finances:
Use a budget template to create a daily budget that accounts for your household income and expenditures. You can then track your income and expenses throughout the month.
Make sure all of your core cost of living expenses are covered before deciding how to spend your disposable income.
Consult with your partner before making any big budgeting decisions, and make sure you’re both on the same page.
If you’re a fan of online casino games and sports betting, make sure you put together a reasonable gambling budget to account for your monthly gambling expenses.
Knowing the Signs of Problem Gambling
While many people can enjoy online gambling responsibly and without issue, it’s so important to recognise when you might have a problem. Here are some signs that it might be time to get some help:
You go chasing your losses and don’t stick to your budget.
You get angry or overly anxious when playing online casino games or making sports bets.
You spend more time than you would like at online gambling sites.
You worry or think about gambling when you’re doing other things.
Your gambling habit is affecting your relationships or your performance at work.
You have got yourself into debt because of gambling.
How to Regain Control Over Gambling
Once you have recognised that you might have a gambling problem, you can set out a plan to regain control. Specifically, you can do the following:
Set deposit limits: At Stake.com, you can set a specific amount as your monthly deposit limit to prevent you from overspending. This is a great way to stick to the budget you have created with the help of our budget calculator.
Set loss limits: A tool that assists individuals limiting the amount of money they can lose in a set period, ensuring the use of proper risk management to prevent excessive losses.
Get help: We also advise you to reach out and get help. Speak to a loved one about your gambling problem and look to responsible gambling platforms, helplines, and help groups for the support that you need to get back on your feet.
More Tips & Strategies to Gamble Responsibly
We want everyone at Stake.com to have a fun and enjoyable experience on our platform. We refer you to our Stake Smart guidelines for additional responsible gambling advice and encourage you to educate yourself about what it means to retain control of your gambling activities. The following resources and tips can also help you to gamble responsibly:
Browse through our how-to guides to learn how to play casino games and place sports bets. When you know how to bet, you increase your enjoyment levels and reduce some of the risks associated with gambling. For instance, you can learn:
Our online casino guide and sports betting guide will also help you as you decide how much to bet, which games to play, and which sports to bet on.
Whether you're playing a classic table game or our Stake Originals, our wide range of casino games at Stake.com are provably fair – learn more about what provably fair means and why it’s important.
