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Gambling can stimulate the brain's reward system much like drugs or alcohol can, leading to addiction. If you have a problem with compulsive gambling, you may continually chase bets that lead to losses, hide your behavior, deplete savings, accumulate debt, or even resort to theft or fraud to support your addiction.
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Are you having trouble with debt? ASIC's MoneySmart website explains what to do if you are struggling to pay your home loan, credit cards, utility bills and other loans.
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The average debt generated by a man addicted to gambling is between $55,000 and $90,000. Women gamblers average $15,000 of debt. In extreme cases, problem gambling can result in serious legal problems or financial ruin. More than 20% of compulsive gamblers end up filing for bankruptcy because of gambling losses.
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Gambling problems often make debt problems worse, and vice versa. Borrowing more money to pay for gambling can make your debts increase, while ...
Online Gambling Debts – How to Deal With the Causes and… 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 GamblingIn dealing with gambling debts...
Gambling and Debt It's a wager. You bet something of value – usually money – on an event with an uncertain outcome hoping to take home a bigger return. That shouldn't be news to