Gambling Debt

by Jerry "Jet" Whittaker
May 2, 2006

Basics of Debt –

A person is said to be in debt when he owes something (either money or goods or services) to another person. A debt is an obligation of a person to do something or to pay something to a second person.

About Gambling Debt –

Gambling debt is where a person who gambles over and over and starts losing all the games he plays and gets deep into debt and owes a considerable amount of money to another person or a casino (or online casino).

Gambling and Debt –

Addiction to gambling has its own set of problems, the most important of them being the crippling debt. People gambling excessively face shortage of money for other things and in the extreme cases this may lead to severe debt and bankruptcies, which may result in attempted suicides at times.

Gambling becomes such an addiction with some people. They lose control on themselves and get more a more tempted to continue the game inspite of losing money. The temptation is typically the outcome of already existing debts as they want to win more to pay clear out those debts. At one point in time, it becomes such an addiction that the gamblers become afraid of facing the debts and hence continue playing.

Dealing with Gambling Debt –

People facing excessive debts just have to keep control on them, stop panicking and gradually reduce on the number of gambling games. It is important to stop worrying about the existing debts as that tempts a person to play more. Finding out other ways to clear out those debts and taking an objective look at one’s overall financial situation helps in overcoming the addiction of gambling in the longer run. These tips can prove to be useful in overcoming the gambling addiction –

1. Gambling should not be played while the debt problems are being addressed.

2. Taking responsibility of the gambling and the debt.

3. Sharing the problems with a supportive and trust-worthy person.

4. Requesting a trust-worthy person to look after one’s bank cards for a while.

5. Destroying the credit cards if necessary.

Gambling Debt Counseling –

A number of sites have come up these days to provide professional counseling and help to those people addicted to gambling and in debts. These sites have specially trained debt counselors to evaluate particular situations and find solutions accordingly. They offer free, national and impartial debt advice service. They identify your problem, work out a best solution for you and set it up for you without any charge and obligation.

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