Gamblers risk financial loss anytime they put funds into a game. Although these warnings should not be taken lightly, bettors can take some precautions to not let things get out of hand to the point of gambling addiction. In fact, Bitcoin bettors have slightly more options at their disposal than traditional gamblers.
A gambling addiction is a terrible thing. Not just for the person involved, but also for all of their friends and family members. Everyone around a person suffering from gambling addiction will experience the same one way or another. Online gambling is often touted as an enabler for gambling addictions, as it is far easier to let things spiral out of control compared to visiting a casino and running out of money.
Addressing the underage gambling problem
While there may be some truth to that, both physical and online casinos hinge on using the same payment methods. Cash and credit cards are the dominant options. Underage gamblers should not be gambling at all. However, they often use cash as an option that cannot be tracked. They may also use someone else’s credit card to fund their gambling needs, which creates even more problems.
The bigger question is how to tackle underage gambling, as well as preventing the addiction itself. Initiatives such as Keep it Fun focus on preventing underage gambling in an active manner. Most casinos will only deal with clients who are age 18 years or older, which is a step in the right direction. Verifying that identity, however, should occur as soon as the account as registered, which is not always the case
Another option is to install filtering software on family computers. Given the growth in mobile devices, this will be much easier said than done, though. The average teen is better-versed in technology than their parents, rendering these types of parental controls all but moot.
The best option for casinos—including the ones dealing with Bitcoin and cryptocurrency—is to verify player’s identities at an early stage. Although many bettors flock to Bitcoin when it comes to gambling due to this privacy-centric nature, casinos need to prevent underage gambling at all costs. Most platforms require IDs when players request a withdrawal, though the damage had been done by then.
Gambling addiction should not be underestimated either
On paper, the Bitcoin gambling ecosystem has a lot of allure. Bitcoin is globally accessible, and can be purchased from exchanges, through Bitcoin ATMs, or even traded in a peer-to-peer fashion. Since a lot of casinos accept cryptocurrency payments, there are plenty of opportunities for Bitcoin enthusiasts.
Avoiding the temptation of turning gambling into an addiction is not straightforward by any means. The first step is for bettors to self-evaluate, and use common sense when doing so. Once expenses start piling up, there is a dire need to look back at recent gambling behavior, and perhaps call it quits. Such a decision should not always be made on one’s own accord, though, and asking for help—from friends or family—can help put things into perspective.
Staying away from the gambling platforms can help as well. Spending more time outside of the gambling world will help keep things under control. Once bettors start actively craving the need to gamble with Bitcoin or otherwise, things will need to change quickly.
Anyone in the world can suffer from gambling addiction, and with no physical temptation, it becomes even more difficult to recognize it in others. Although Bitcoin is gaining traction in online casinos, businesses and players have to do everything in their power to keep things fun, rather than turning it into an addiction.