The gambling sector is often associated with risks and potential financial losses. Although these warnings should not be taken lightly, bettors can take some precautions to not let things get out of hand. In fact, Bitcoin bettors have slightly more options at their disposal, although it all starts with the mental aspect.
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 enabled 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.
While there may be some truth to that, both physical and online casinos hinge on using the same payment methods these days. Cash and credit cards are the dominant options. For those underage players—who should not be gambling to begin with, as they violate the law—the latter option is often used. Then again, they will usually 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 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 the 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 do so when players request a withdrawal, though, although some of the damage had been done by then.
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 seeing great success in the gambling industries, businesses and players have to do everything in their power to keep things fun, rather than turning it into an addiction.