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.

Gambling Addiction and Its Behavioral Effects

Gambling addiction is a serious mental health disorder, which can be identified in two ways: a person either a) continuously bet on things using money or objects that hold value even though negative consequences arise as a result, or, b) they cannot stop gambling even if they desired to. People suffering from gambling addiction often display a strong urge to bet on a wide-range of gambling mediums-from sports games to poker, to choosing lottery numbers and throwing dice. And although friends and family members of compulsive gamblers don’t see the symptoms physically, like they often do with alcoholics or drug abusers, the consequences gambling addiction has serious implications on their lives as well as the lives of their friends and families. Not realizing its severity or taking it too lightly can be devastating for the addicted gambler in the long run. Gamblers can reach a point of literally losing everything, from cars, to homes, to businesses, and even respect from those they care about.

It’s well-known that Florida is notorious for providing “the hotspot” for gamblers all over the world, as well as its residents. But how many gamblers actually endure financial problems? A recent survey by the Florida Council on Compulsive Gambling shed light on card playing, reporting that 70% of these people had trouble paying their bills. But here’s the worst part, which is known to be a side-effect of excessive gambling–1 in 3 of these card players admitted to having participated in illicit activities in order to finance their gambling. Playing cards isn’t as harmless as we thought; criminal activity is still a cause for concern.

Gambling addicts are not always obvious about their situation; sometimes they don’t even realize it themselves. They don’t dwell on what has been lost as a result of their destructive activities and behaviors. Instead, compulsive gamblers only focus on the gains, or the supposed investment aspect of the games they play. And unlike drug or alcohol addiction, a person addicted to gambling will not display symptoms such as heavy fatigue, sickness, loss of energy or dizziness; instead, other factors are apparent, such as falling into deep financial trouble, losing quality time with the ones they love, and heightening the chances of entering into drug or alcohol addiction.

It’s difficult to establish who has a gambling problem and who doesn’t. Where is the threshold between social gamblers, and abusive gamblers? Are there any red flags? The answer is yes. Pathological gamblers often display one or more of the following signs: negligent of family get-togethers, acts on criminal behavior in order to acquire more stuff to bet on, would rather gamble then hang out with friends, talk excessively about gambling and winning money, use drugs or alcohol to distract them from wanting to gamble more, become irritated when not gambling, neglect vital responsibilities for gambling time, and lying to family and friends about going out gambling. A combination of these signs should be a red flag when identifying a compulsive gambler. But remember, none of these signs mention the amount of times a person gambles in a period of time. It’s not about “quantity.” A person can gamble every day and it may not affect his life. Also, gambling addiction isn’t OK if you’re wealthy; rich gamblers can still have issues like neglecting their loved ones and other vital responsibilities.

Florida is well-known for its casinos, entertainment arenas and cruise ship gambling. But environmental factors such as these may cause people to be more susceptible to the development of gambling addiction. Gambling addiction isn’t a problem that stands alone-it may lead to criminal behavior, psychological distress and depression, and fuel other more dangerous addictions. As stated earlier, a person may fall into drug or alcohol addiction in order to supplement or replace their gambling behavior. The combination of multiple addictions can be devastating and more difficult to treat; it would be like tangling a web of loose strings and trying to unravel them all at once.

Addiction specialists and counselors use a variety of methods in treating gambling addiction effectively, including: helping the addict understand what drives him or her to gamble, replacing their betting habits with more productive activities, understanding how it affects the people they care about, and finally, strengthening one’s will to live a more productive lifestyle. If you notice warning signs that you or your loved one is suffering from gambling addiction, it is crucial to intervene and find treatment before it is too late. Doctors treat gambling addiction as a serious brain disease, and people suffering from it are also prone to drug addiction. The importance of acquiring immediate treatment can be the difference between losing everything, and saving someone’s life.

US Gambling in the Midst of UIGEA

Online gambling in United States is endangered with the passing of the UIGEA or Unlawful Internet Gambling Enforcement Act. It was enforced in 2007 and since then it has dramatically curtailed the online gambler population. Many gambling websites have already stopped operating and many online gamblers have controlled their urge to gamble for the fear of being caught.

Such scare continued to linger despite the efforts to assure people. A few online gambling sites offer gambling system in roulette in which the prizes double with succeeding loss. This martingale system aims to attract more players. Many people aren’t aware of this prohibition and so aren’t familiar with its specifics. This led to false notions, and because of that, information campaign regarding UIGEA has become necessary.

Gambling Sanction

The major implication of UIGEA is to prevent operation of online gambling sites, thereby, preventing players to gamble. This is a US law and is being enacted in two ways. First, it compels legal operations of gambling sites through qualification assessment and issuance of gambling license as administered by Financial Crimes Enforcement Network, which will oversee the legalities of operations. Second, other games shall be reclassified and redefined for delineation; hence, games like chess, roulette, and poker shall be removed from the UIGEA scope.

UIGEA does have a good result-security in gambling for US players. Since it tracks down different online gambling sites, it is almost impossible for them to run away, supposing they commit crimes. The main issue is that the UIGEA stirred the industry drastically. A more pressing situation is its ineffective enforcement. The irregularity in enforcement made UIGEA a culprit of setbacks in the online gambling world, no less.

General Picture

UIGEA is so inefficiently enforced that it has become a culprit of profound problems encountered in online gambling today. The issue has a lot to do with the shareholders who invested funds in gambling sites. Because of the impending prohibition of gambling, many shareholders withdrew their shares from online gambling sites because of fear of bankruptcy. This slump causes many gambling websites to shut down operations. As more sites closed, people began to believe that it was going to be the end of online gambling in the United States. Many of these online venues lay the blame on UIGEA for their closure and non-operation. What was supposed to safeguard the gambling market lead to its near demise.

This ineffective enforcement of UIGEA also caused another repercussion. As it is not implemented in some states, there is confusion across the country as to the scope of this law, whether it aims to ban gambling and ban citizens to gamble online or not. Nevertheless, UIGEA does not necessarily prohibit American players to join online gambling websites. But some states did not understand the bill correctly. So many of the US gamers have now succumbed to the idea that they could no longer enjoy gambling online. Despite the number of states allowing gambling, the anxiety in the whole country is very real. As you can see the truth, the nation’s opinion regarding gambling is not in unison. And up to the time that UIGEA continues to be in partial implementation, this nationwide confusion goes on.