Apart from becoming a major financial disaster, when someone gets addicted to gambling, whether online or offline, the obsession may just cost him his family, friends and his whole social life. Who wants to be caught up in problems like that?

Gambling is supposed to be fun, not something that will ruin your life, so gamble responsibly and don't lose your shirt. Here are 7 tips on responsible gambling:

1. Set a Loss Limit

This is being responsible not just being pessimistic. You must keep tabs on your losses and give yourself a loss limit which you can afford. And stick to it strictly. As well as setting a loss limit, setting yourself a time limit will also make you a smarter gambler.

2. Don't Ask Anyone for More Funds

Never asking for some borrowed money to continue gambling means you must stop when you reach your limit. If you have determined a quite convenient loss limit, you will never have to borrow money to gamble.

3. Take a Break

Frequent breaks while playing online will not only help you to relax, they will also give you time to think about how much you may have been losing. If you're losing and can't afford to lose more then quit.

4. Don't Just Gamble, Socialize a Little

Other activities such as chatting with a new acquaintance or some old friend who also happens to visit the casino, may be time well spent. You don't need to feel guilty about not gambling the whole night through. Practicing your shared experiences is also a good way to spend some of the time. Who knows what you might have done but were too hooked up rolling the dice.

5. Never Play When Depressed and Stressed

In the same way as shopping and eating, it's never a good idea to use gambling as an antidote for your woes or troubles. Gambling when you are feeling low will not solve your problems. It might even propel it to some massive problem you never intended it to be.

6. Say No to Ruining Your Budget Just Because Of Gambling

Stay within the budget you allocated for the entertainment value you get from gambling. Money for everyday household expenses should never be touched. If it's your craving to roll the dice that you are trying to satisfy, you must be sure you can afford it.

7. Don't Go Chasing Your Losses

Recognition of the fact that you have lost is the most responsible and mature way to deal with any problem, particularly losing when gambling. If you start trying to chase your losses, the most likely outcome is that you lose even more.

Gambling should not be taken lightly, gamble responsibly and not lose your shirt. Remember that casinos are not charity houses that intend to give away money. They are there as a business and make their money out of the gamblers' losses.