Gambling : One of the 50 Pluses Favorite Retirement Activities

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According to the Las Vegas Convention and Visitors Authority (LVCVA) the average age of a Las Vegas visitor is 51 years old. I have traveled and vacationed there many times over the years and I can confirm this statistic. 

I might even say that the age stated is on the low side. I can see how the 50 plus age group enjoys their trips to the casino. Gambling may be their favorite recreational activity and maybe even the most favorite activity next to travel. 

Gambling at casinos is a more popular leisure activity than it has ever been - which is primarily due to the rise in online casino sites, which have enabled people to play games like poker, roulette and online slots from home – or any other location, thanks to mobile casino apps. 

This has made playing casino games far more appealing for people, but also means that the need for people to be aware of responsible gambling is greater than it has ever been before. 

At the heart of gambling responsibly is working out a financial budget, based on what you bring in each month, so that you know what percentage of your income you can afford to spend on gambling per month. 

You should budget based on what you can afford to lose, rather than what you hope to win, as this way any winnings are a happy bonus – rather than something you are dependent upon to prevent yourself getting into financial trouble. Once you know what you can realistically spend, put that money in an account separate from your main one, to ensure that you do not have the temptation to exceed it. 

It is also very important to limit yourself in terms of time spent gambling, because otherwise this can easily cross the line from being a fun leisure activity to an out-of-control addiction. Again having a limited budget will help you to maintain the time limits you impose per week, and you will find yourself sticking to those limits to ensure that your allotted gambling budget lasts throughout the month. 

Limiting the time you are allowed to spend gambling per week will also reduce the risks of falling into common traps like trying to win back money you have lost by continuing to gamble and bet more. This generally leads to even greater losses, and is not a responsible way to gamble.