Wagering responsibly is the key to keeping the experience positive, whether that means your own personal behavior or avoiding illegal wagering sites. It's helpful to separate the myths from the facts concerning horse racing and problem wagering, so we've addressed some of the more common myths here.
| Myth: |
Wagering is essential for having a good time.1
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| Fact: |
It is fun and exciting, but shouldn't be seen as necessary for having fun and being with friends. |
| Myth: |
Problem wagering is a financial problem.5
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| Fact: |
The real problem is an uncontrollable obsession with wagering, which is an emotional issue with financial consequences. Wagering debts can exacerbate the problem, but the problem exists with or without financial trouble. |
| Myth: |
Magical thinking will produce wins by thinking a certain way or even hoping or wishing for a win.3
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| Fact: |
People need to expect that they will lose more often than they will win. It may not ultimately be the case, but to assume that you will always win could lead to difficulties like chasing losses. |
| Myth: |
Only people who are predisposed can develop a wagering problem.5
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| Fact: |
Anyone who doesn't wager responsibly can develop problems if they are not aware of the risks, and lets their behavior interfere with finances, relationships and the workplace. There are a variety of reasons why that happens, but when wagering becomes more than a game there are a lot of resources for getting back on track and changing your wagering habits. |
| Myth: |
Borrowing money to wager is fine - you'll just win it back.6
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Wagering with money you don't have should always be avoided. |
| Myth: |
Superstitions and rituals can help improve the odds of winning.3
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| Fact: |
Superstition can cause horse players to connect unrelated events believing it will somehow affect their wins. For example, if you win a large wager on a Tuesday, you may start to believe that Tuesdays are better than Thursdays for wagering. |
| Myth: |
Wagering losses aren't really lost, they can be recovered through further wagering.3
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| Fact: |
Chasing losses is a downward spiral. Those with a wagering problem think that if they bet more, they'll eventually win their money back. This usually leads to financial trouble because the amounts wagered get larger and larger as they continue to lose over time. |
| Myth: |
Horse racing causes problem wagering to happen.5
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| Fact: |
In the same way a fast food outlet doesn't cause eating disorders, horse racing merely provides an opportunity to wager. Problem wagering is cause by an individual's inability to control his or herself, either through a tendency towards addictive behavior, lack of stress coping mechanisms or even learned attitudes about wagering. |
| Myth: |
You have to wager everyday to have a problem.2
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| Fact: |
Whether you wager frequently or infrequently, it's a problem if it causes problems. |
| Myth: |
You should help someone with a wagering problem take care of their debts.2
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| Fact: |
While it may seem like the right thing to do, it can actually make matters worse by encouraging further wagering. |
