Online Gambling Debts – How to Deal With the Causes and Effects of Online Gambling Debts

One thing there is no shortage of on the internet is opportunities to gamble. We are spoilt for choice, whether your fancy is for betting on sports, playing virtual card games or bingo. One of the things that makes internet gambling so potentially dangerous is that it is easily available for 24 hours a day. The real danger comes when you combine this factor with the fact that it is so easy to feel detached from the reality of money spent online. Gradually racking up a debt online does not feel the same as handing over hard earned cash from our wallet, so it is that much easier to lose track of how your online spending is mounting up.

For these reasons, debt problems from internet gambling are on the increase. In this article I hope to clarify some of the legal issues around online gambling, as well as providing some advice on dealing with the underlying problem and the debts that result from it.

Legal Issues Around Gambling Debts

When we talk about debt from online gambling it is important to be clear about the nature of the debt, because who the money is owed to does make a difference. People are often unsure about the legality of debts from online gambling. In the UK you can gamble legally on credit and incur a debt, but this debt is not then enforceable through the law.

However, there is an important point to make here, which is that this only applies when you are using credit extended by the company offering the gambling (casino, bookie, etc). If you use a credit card company to pay for internet gambling, that is a legally enforceable debt the same as it would be in any other circumstance, because you have borrowed money from the credit card company, not the casino. It is now against the law in the US to use a credit card to pay for online gambling.

You will find that many credit cards will regard a payment to an internet gambling website as a cash advance. This is then clearly borrowing money from the card company and the debt you incur can be pursued through legal action. If you do use a credit card to pay for online gambling this way, you should be aware that cash advances on credit cards are almost always charged at a much higher rate of interest than normal credit for purchases.

How To Deal With Debts Caused By Gambling

In dealing with gambling debts, there are two separate issues to tackle. One is the debt itself, and the other is the habit of gambling that led to the debt. Even if the debt is dealt with, it is likely to build up again if the root cause is not tackled too. Let us first consider the problem of paying off the debt.

The principles for tackling debt are nearly always the same, irrespective of the causes of the debt. To permanently deal with debt you should not be considering borrowing more money or paying anyone to deal with your debt for you. These courses of action are likely to deepen your debt in the long run.

With a little advice, you can deal with your debts yourself, by contacting your creditors and agreeing terms for repayment that you can afford. There is clearly more to it than that, but it is beyond the scope of this particular article. The process is straightforward and allows you to take back control of your finances.

Factors Leading To Internet Gambling Debts

It may help to have an understanding of why some people can become addicted to online gambling. The following are often contributory factors:

Gambling can be thrilling, leading to an adrenalin rush and feelings that we want to recreate time and again.

Many addictive gamblers think that they can win money and that this will solve all their other problems. It actually just leads to more problems by creating debt, which can then make it seem even more important to win the money, creating a vicious circle.

Addiction to gambling can actually be a mental disorder, which can lead to a compulsive need to gamble.

Being addicted to online gambling is often associated with other personal difficulties, including depression and stress.

Online Gambling Debts – The Warning Signs You may have a problem if you can answer yes to any of the following questions:

When you are not gambling, do you think about gambling and how you are going to get back to it?

Have you ever missed work because of online gambling?

Do you feel the need to gamble again after winning or losing?

Is the length of time you spend on gambling getting longer and have you ever spent longer online than you thought you had?

Are you secretive about your gambling with family or friends and do you dislike other people bringing it up?

Practical Steps To Tackle Online Gambling Addiction If you think you may have a problem with online gambling, here are a few simple steps you can take to begin to reduce or stop the habit:

Be open with friends and family and seek help with the problem.

Cancel any accounts you have with websites for online gambling.

Consider using software that blocks your access to online gambling websites.

Keep a proper, ongoing record of everything you spend – take steps to bring home the fact that the money you are using is real.

Online Gambling Casino Now Offers New Thrilling Games

Two options are present for people who wish to play games of chance: land based casinos and online casinos. But many would agree that both are different in a sense that the former are limited in their features and repertoire compared to the latter which has a wider range of features and greater extent of options. All games found at brick and mortar casinos are already brought online where more people can access them. With the right technology, more features and more versions are already available online, and they were even modified to become more exciting and fun. Some people believe that playing online is not fun as you don’t get to see the people, but on the contrary, playing online at your confines is not only convenient but also exciting too. The innovations on the internet come faster than the developments at brick and mortar venues.

For instance, if you remember that kid’s war games, there is now an online version of that game. Developments can happen that quickly online to keep pace with the rapid changes in the likes of people, but these changes do not take place in the core elements of the games because online gaming sites respect the foundation of these games. Otherwise, they lose their essence. For instance, part of the development of online poker includes the inclusion of a live dealer, yet the standard deck of cards and game rules was never altered. So you can still cast your bets to your cards as they are presented to you and you lose if its value is lower than that of the dealer-and this is much like the same poker you and the old men enjoyed back in the day.

More players would love more innovation in games

Online casino games are always being improved with new innovations to keep the players on site since they will always be seeking for something new. Of course, many of the players are not seasoned pros but typical gamers who are looking for upfront thrill and these people would be easily dismayed if they found new stuff to like after a while. A typical online casino provides new arrays of features for the traditional games so as to keep them inclined to the modern age. Since casinos are essentially businesses, their interest is in keeping as much supporters as they can because that is how they shall continue to exist, and one excellent way to keep people in the site is to cater to the best of their interests.

Suppose you have cards whose value are higher than those of the dealer. There are many attractions, such as casino war game that brings about fun and poker that tests the element of luck. But when the player and dealer have the same cards, that’s the most stirring circumstance. Either you give up or continue to test your fortune to see what happens next. It may be safe to surrender but the risk you face when continuing can be exhilarating. You can also double your wagers, if you wish to.

The Popularity and Risks of Online Gambling

People have gambled from ancient times, like China and Rome, to the current day. You see gambling everywhere you go. People seem to enjoy their chance at lotto, sweepstakes, horse racing, poker, to name a few. If you are not in, you can not win. In today’s age of the computer, gambling has taken an added direction of being online. The method of online gambling is very popular but it can have some risks.

Here are two reasons on the Popularity of Online Gambling.

1. You can gamble from the comfort of your own home. All you need is a computer, an active internet connection and a credit card. You do not need to go out to a casino or the horse races, which is great if it is freezing outside. For casino type gambling all you have to do is open an account and try your luck.

2. Online gambling provides the same thrill and excitement as you get with traditional gambling. And it can provide every type of gambling there is.

For example:

a. betting on the National Basketball Association (NBA ) or Major League Baseball (MLB) or National Football League (NFL ) finals if you like sports. In fact for sports betting you should find a lot of professional tips to help you make a decision on which team to bet on.

b. horse racing

c. online casino websites where you can get a buzz from playing blackjack, roulette, poker or slot machines, if you are keen on casino type gambling. If you like poker, there are some online casinos that let you play poker against other online players. The good thing about this is that you can practise with virtual or fake money to get a feel of the card game first. That is the “try before you buy” thought.

Here are two Risks of Online Gambling

1. Losing a great amount of money: Online gambling is gambling and if you are not sensible then you could potentially lose lots of money. A good idea would be to set a limit of money you are prepared to lose.

2. Becoming Addicted: When you win, it feels great and the urge to bet more money is tempting. Therefore you need to pace yourself so you do not go deep into debt.

So when you are home on that wet Friday night and have the urge to gamble, online be sensible. Give yourself a limit of money you are prepared to lose and enjoy the adrenaline of your heart pumping faster as you watch that horse race, sports team or have that flutter at the roulette wheel. Just imagine you win… or your loss.