Saturday, April 20, 2024

How Helpful Are Online Gambling Deposit Limits?

Licensed online casinos are usually required to provide their customers with safe and responsible gambling tools to combat problem gambling. One of the most popular tools is the deposit limit, but how useful are these limits at helping gamers?

Online Gambling Restrictions

As mentioned, deposit limits are one of the most popular tools used to combat problem gambling. This online gambling restriction basically allows you to set a maximum deposit amount limit per day, week or month. Once you’ve hit the said limit, you will be prohibited from making any more deposits until the time frame has passed. According to Online Slots Pilot, this tool is now available at most licensed casinos and can stop gamers from overspending, but will not completely prevent gambling addiction.

Deposit limits are often used with other similar tools, such as time limits, which allow you to impose restrictions on how much time you spend gambling, and loss limits, which allows you to set restrictions on how much you lose. These restrictions should, in theory, be great at managing how you gamble, particularly if used together.

Do Deposit Limit Restrictions Help People?

There has long been a debate over how effective these deposit limits and other online gambling restrictions are. Well, a study commissioned by GambleAware in January 2021 analysed the effectiveness of deposit limits. The study involved over 1,700 gamers who were asked to set deposit limits via the ordinary method or through two new options; using a dropdown menu with low-value deposit limits and a blank box for customers to enter their own value or no dropdown menu with only an empty box.

GambleAware’s study found that the lack of higher deposit limit options caused customers to set far lower deposit limits than normal. The study also found that allowing customers to enter their own limits led them to enter much lower deposit limits than when presented with set options. The study concluded that deposit limits are helpful, but are better if customers are able to set their own limits rather than using pre-determined values.

Another study, conducted by the Brain and Mind Centre, School of Psychology, Science Faculty, the University of Sydney in Australia, analysed deposit limits. The study, published in November 2020, analysed the behaviour of regular gamblers over a period of six months and found that those who imposed deposit limits showed a decrease in their average daily wagering, a decrease in their overall net losses, and they were more likely to bet similar amounts rather than frequently changing their bet values and making large impulse bets.

Should You Use Deposit Limits?

The above studies show that implementing deposit limits can be incredibly useful for all gamblers, not just those worried about addictions. However, the studies also point out that casinos get better results with their deposit limits by allowing customers to set their own. We believe that you should try using deposit limits, regardless of whether you’re worried about gambling harm, and that they should be imposed alongside other restrictions, such as loss and time limits, for full effectiveness.

There are also other gambling tools that can be used, including lock withdrawals that allow you to lock your withdrawals, preventing you or customer support from cancelling or reversing them if you get impatient. However, it’s important to note that not all gambling websites offer these tools, which is why it’s important to check for them beforehand. They can greatly help you, so it’s worth considering them.

Sam Allcock
Sam Allcock
Sam heads up Cheshire-based PR Fire, an online platform that has already helped over 10,000 businesses to grab widespread media coverage on their news at an extremely accessible price point.

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