Responsible Gaming In Indiana
Now that we have given you some advice on the best casinos, best mobile apps and best ways to bet, it is time to talk about being a responsible gambler. Know your limitations and have a plan before you bet.
If you are going to the casino, take an amount of money you are comfortable losing. If you know you are prone to wanting to “chase” if you lose, leave your debit card at home.
Gambling is only fun if you bet enough to make a difference, but not so much that you can’t pay your bills.
There is a way to exclude yourself from overdoing it, which we will cover later, but first, we will cover a few different methods to avoid losing more than you should. Discipline is the key to success in everything, but even more so in gambling.
It is easy to get caught up in trying to win back your money with just one more hand or betting on the next game. But, that almost never works. Stay disciplined, and you will have more fun and win more money.
Self-discipline key to success
Discipline is the most important aspect of gambling and sports betting. It is a must if you want to consistently make money gambling on sports.
Discipline is the practice of training people to obey rules, or a code of behavior, using punishment to correct disobedience. Professional gamblers all talk about how discipline is the key to their success.
Sports are played every day, so playing every day is an option, but definitely not the best strategy.
A John C. Maxwell quote that applies to discipline that makes a lot of sense for gambling is as follows, “Motivation gets you going, but discipline keeps you growing.”
The number one rule is not to chase. If you are having a bad Sunday and have lost a couple of games, don’t just try and play the Sunday night game to try and catch up. Only bet the games where you see an advantage. If you are just betting to bet, you will lose your money.
Stick with your plan and only bet when the line seems like it is off one way or the other. Have a unit size you are comfortable with and never bet more than 10% of your budget on one game.
If you have $1,000 in the account, none of your bets should be over $100. If this is the case, I recommend a $25 unit size. If you have a bet you love, call it a four-unit bet and put down $100.
Your normal bets should be one unit, or $25, for a game you want to play. If there is a game that you just really love, then play four units, your max bet, and play $100.
The only time we recommend breaking this rule is you have a future that is going to hit, but you want to hedge to make sure you win money.
For example, I had LSU to win the national title at 10/1 on a $100 bet. If they won the national title, I would win $1,000. But, to make sure I walk away a winner, I put $500 on Clemson at +6 to make sure I secure a win.
This is a best-case scenario, because I could actually have hit both bets if LSU won by five or fewer points.
The last lesson about discipline is about getting too confident. If you start hitting some bets, you will think you are some type of genius and bet too much. The best sports bettors in the world are happy to hit 60% of their bets.
Stay with your bet size and plan, and avoiding getting too big for your britches.
How to recognize a problem
The first step to getting help is admitting you have a problem. This is true with a gambling addiction, just like it is with any addiction. If you notice you can’t stop or are betting a lot more than you should, ask for help.
Compulsive behavior can happen to anyone, so we will list a few ways to recognize if you, or a family member or friend, have a gambling addiction:
- Have you told yourself you are only going to the casino for two hours, but find yourself there all day?
- Set a limit, but can’t stick to it? (Example: Once I get up $100 on the blackjack table, I’m going to quit and go home)
- Have you gone to the ATM to try and make up for your losses?
- Hide your gambling from a spouse or loved one?
- Gamble to try and pay bills?
- Feel depressed after you gamble, or even suicidal?
- Have you had to borrow money to gamble?
If you notice any of these things, please get help. You can call the National Problem Gambling Helpline at 1-800-522-4700.
Avoiding a problem
One way that you can prevent yourself from overdoing it is by putting yourself on a self-exclusion list. By doing this, it will not allow you to play or deposit money in the account. This is a great way to be disciplined if you know you are someone who does have issues of trying to chase.
We will go through a step-by-step process of how to use the self-exclude at each site or casino. Most sites also have a deposit limit you can set for yourself if you want to still play but limit the amount of money you are able to play in a day, week, or month span.
Indiana has a self-exclusion form that you can fill out to be excluded from all Indiana casinos. It is one simple form called a VEP (Voluntary Exclusion Program). The player can sign up for a one-year, five-year, or lifetime exclusion. For more information visit the Voluntary Exclusion Program page on the Indiana Government website.
If you sign up for self-exclusion on DraftKings, it will be applied to every aspect of its site. You will be excluded from the casino, sportsbook and the daily fantasy portion.
Users are allowed to set a time frame for their self-exclusion. Once you click on the self-exclusion tab under my account, you will then select your exclusion period. The choices are one year or five years.
Click continue, and you will be automatically logged out of your account and not eligible to play on DraftKings for the selected time frame. You can also email [email protected] with the title Permanent Self-Exclusion, and your account will be permanently deleted.
Under the responsible play section at FanDuel, you can adjust your deposit limits, set a contest entry alert, set a contest entry limit, and a maximum entry fee limit. The next section allows you to take a timeout. Users can select how long they would like to be excluded from play.
If you select a deposit limit, you can set it up for a daily, weekly or monthly limit. For example, you can put a limit of $250 on the daily limit, a $1,000 weekly limit, and a $2,500 monthly limit.
Once you have hit the specified limit, it will not allow you to place another deposit until the time has expired.
Users who have selected the contest entry alert will be notified when they enter more contests than the selected limit within the time frame selected. Let’s say you put down a contest entry limit of 10 a day; it will send you a notification when you have entered your 10th contest.
Keep in mind, this is just a notification, and it will not stop you from entering more contests.
The contest entry alert might not be enough for some people. For the gambler who needs a little more restriction, you can take advantage of the contest entry limit section.
This is where you can place a limit on the number of contests you can enter in a day, week or month. When you select this option, it will stop you from entering the 11th contest if you have placed the daily limit at 10.
A maximum entry fee limit is probably the best option if you have an issue. This puts a hard cap on the dollar amount you can spend in a day on daily fantasy.
Most people have more of an issue with losing a certain amount of money than they do with playing too many contests. Gamblers would be better off entering ten $1 contests, than playing five $20 contests if they are concerned about losing too much.
Setting a maximum entry fee limit is probably the best option, in our opinion.
Like FanDuel and DraftKings, BetRivers lets you set limits on deposits, spending limits, and time limits. It also has a self-suspend function. This self-suspend must be for a minimum of 72 hours, in what they call a “cool off” period.
All of the information can be found in its responsible gaming section.
PointsBet, BetMGM, UniBet, FoxBet, Caesars, Ameristar and all casinos must have a form of self-exclusion. Because none of them are up and running yet in Indiana, we won’t go into further details.
All self-exclusion rules can be found in the responsible gaming section of all the websites. Remember, you can exclude yourself from all casinos in Indiana, and if you need help, please call 1-800-522-4700 for help with your gambling addiction.