When participating in any type of gambling, it is important to always know the risks you are taking on, financially speaking.  Gambling in the US is a growing problem, with a growing number of addicts and people finding themselves more and more in debt than ever before.  On average, over 60% of American adults gamble over the past twelve months on some activity. Over 80% of American adults believe that gambling is legitimate and that casinos are okay. Gambling is truly an industry of money, as it generates more revenue than movies, spectator sports, theme parks, cruise ships and recorded music combined.  The gambling industry has become a $40 billion dollar a year industry in the United States. It is okay to gamble occasionally, but it is important to know how to gamble responsibly. 

It is vital that you never gamble for investment or income. With this said, even playing to “earn” $5 is a risk that you should know you’re taking.  The amount of the matter is important, yes, but the overall fact that you should not be gambling to earn money at all is more important. 

Also, know and understand the type(s) of gambling you are participating in before you do so.  Know the odds you are against, as well as how the games are played and work, whether it be Blackjack, Craps, slot machines, Roulette, poker, etc. 

It is important to use money that is designated for entertainment expenses only among your financial budget. Never use your finances that are intended to pay bills or support your daily life, or that of your family. If you are digging deep into your savings for money to gamble with, that is a sure sign you should not be gambling. Never borrow money from family or friends.  Only use money that is yours and that is specifically intended as extra money to use as you wish.   

Always set a budget prior to your gambling and stick to it.  If you go to a casino, only bring a set amount of cash with you, and do not bring an ATM card that you can later withdraw more money from if you lose your cash-on-hand. As well, it is always a bad idea to gamble with personal possessions. Once you are out of money, then you should be done. Also set a limit for your winnings, in case you are lucky enough to win.  If you set $50 as your winning limit, call it quits for the day once you win that $50.  Do not continue to gamble past your limit as you have better odds to lose that money sooner that later.  Be aware: risk increases at times of loss or depression, and this is the time when you are bound to want to continue gambling to earn back your losses.  The odds are most against you at this point. Once you have lost the cash you have started with, it is time to quit. 

It is important to watch how frequently you participate in acts of gambling. Gamble only as a treat for yourself, such as going to a movie or out to dinner. You will begin to develop true habits of a problem gambler if you desire, or need, to go everyday or as much as possible.  Gambling is an issue of you losing money, while the gambling industry wins it, as the odds are always against you.