Sportsbook features that can help you bet responsibly
Author:
Zach Lutz
Reviewed by:
Published:
Oct 24, 2024
,
02:21 p.m.
ET
Most sports bettors have at least heard about the main concepts of Responsible Gaming like bankroll management, unit sizing, not chasing losses and limiting your time gambling. But nowadays there are also important product features within online sportsbook apps that can help you bet more responsibly. These can help ensure that sports betting remains a casual, enjoyable recreational activity, avoiding at-risk behaviors that can lead to a serious gambling problem. Although these tools and features are optional, it is strongly recommended that all bettors utilize ones like deposit limits, loss limits, wager amount self-restrictions and time limits — all acting as guardrails to keep your betting in check.
Let’s dive into some of the key app features that can help you bet responsibly.
Deposit limits
A popular and highly beneficial feature is the option to limit how much you can deposit during a specific period of time. This is directly related to the concept of bankroll management, which can be thought of as a betting budget. When you’ve determined your personal betting budget - which should be an amount you’re willing and able to lose completely without impacting your financial wellbeing - you should set a deposit limit for that amount over a set timeframe in your sportsbook app(s).
For example, if you decide that you can afford to potentially lose $200 per month sports betting, you can open your sportsbook app and set a monthly deposit limit of $200. If you attempt to deposit more than that figure within the time period, the app will block you from doing so unless you change the limit. Some apps can also force you to wait multiple days for the update to take effect, helping block any potentially rash decisions that go against what you’d previously decided regarding your limits.
Time limits
These are likely self-explanatory, but time limits simply allow users to set a maximum amount of time for using the sportsbook each day. Bettors who utilize this feature are notified that they’ve reached the end of their time limit and are prohibited from resuming use of their account until the next day.
Loss limits
Loss limits are similar to deposit limits, but instead of picking a maximum amount of funds for deposits, you can choose a limit on the amount that you are willing to lose within a set time frame. Once the loss limit is reached, you are prevented from placing any more wagers until the limit resets at the end of chosen period.
"Cool Off" periods and "Timeouts"
One of the key pieces of Responsible Gaming is knowing your own tendencies. If you’ve ever said something like, “I need to stop betting” after a bad beat or big loss, but then end up placing another bet later, you may want to consider using the “timeout” or “cool-off” feature of your preferred sportsbook. You pick how long of a timeout you want to take, but some sportsbooks have a minimum, such as three days. As a result, your account will be blocked for that time span.
Stat sheets and Betting Reports
Some sportsbooks also now give users a full, simplified view of their past betting activity. Seeing in one place how much you’ve risked, lost and won recently can be very helpful and much easier than scrolling through an entire My Bets section. Some apps also provide a breakdown of your wagers by sport and bet type. This can help make you a more well-informed bettor by viewing your historic betting strengths and weaknesses.
But even if you have been doing well betting on a particular sport, keep in mind that it is incredibly difficult to make a profit long term with sports betting. As we’ve detailed previously, the odds are skewed notably in the sportsbooks’ favor to ensure they maximize profits, which can translate into losses by consumers.
Gambling Addiction treatment and resources
These sportsbook features can help facilitate sustainable play, but they are not mandatory, so unfortunately many users do not utilize them. Plus, even if you do, all of your family members or friends may not be as well. Plus, using these RG features does NOT guarantee that a gambling problem can't develop.
If tools like deposit limits and cool-off periods haven’t been helpful enough, there are specialized resources and treatment options now available.
Birches Health is a treatment provider with a nationwide team of specially trained counselors who treat people with gambling addiction and related behavioral health challenges. Therapy sessions are conducted virtually from the comfort of home, making scheduling and logistics much easier for patients. Plus, costs are low (or free for many) thanks to partnerships with insurance companies and state government organizations.
Or to chat with a Birches Health care specialist right away, please call (833) 483-3838 or send an email to hello@bircheshealth.com. You can also refer a friend or loved one confidentially by clicking here.
