Topic: A banking app helped me beat my addiction - page 6. (Read 1311 times)
By reading that article, we can see that how dangerous to become addicting in gambling and how much money we can lose. I agree with the bank that offering their services to block all transaction related with gambling so the money will not be out for placing the bets. I think this is a great idea and if this implemented in all bank, then I think this can reduce the addicting in gambling so people can have their money in their account. And Danny is the real proof to us that he can beat the addicting in gambling so now he can save his money and he can feel happy to see his account number.
Addiction of any kind are bad for the human body, plus its a frustration really. If there are remedies that work to combat such addictions, particularly gambling those should be made available. It could save many people.
Yes, there are really some remedies but when your addiction comes to a point on where you do seek ways inspite on having such blockage then it would be an another story.Addiction is a kind of disease that cant really be easily cured unless you wont realize that you are already destroying your life gradually. I doubt that this app isnt applicable on crypto for sure yet we know that anytime we can make access on our own funds since we do have the full control of it.Why rely on an app tho? Why can't we as human beings help another and seek helo to one another? Like you said, we have full control on our funds in crypto so why not just ask someone like your relative to monitor your expenses when it comes to gambling. In that way, a real living person can give you the consequences of not doing what they are supposed to. Seeek council to a professional and ask for hwlp about your addiction.
I'm not sure if I'm right , but I guess I saw some comments many times here in the forums about fiat sites that have such thing so maybe all the legal gambling sites have an option with them to prevent the users from wagering with them ( I'm not 100% sure cause I have never played in a regulated fiat site )
the 48 hours freeze is something nice tho , this way cheating has consequences
the 48 hours freeze is something nice tho , this way cheating has consequences
Addiction of any kind are bad for the human body, plus its a frustration really. If there are remedies that work to combat such addictions, particularly gambling those should be made available. It could save many people.
Yes, there are really some remedies but when your addiction comes to a point on where you do seek ways inspite on having such blockage then it would be an another story.Addiction is a kind of disease that cant really be easily cured unless you wont realize that you are already destroying your life gradually. I doubt that this app isnt applicable on crypto for sure yet we know that anytime we can make access on our own funds since we do have the full control of it.
Addiction of any kind are bad for the human body, plus its a frustration really. If there are remedies that work to combat such addictions, particularly gambling those should be made available. It could save many people.
The good thing about this system is that even after the 48 hours where the block will be switch off the user who will be allowed to play during that time still will be controlled because of the bank account withdrawal limit which is also another nice addition. Hopefully the banks are also the ones putting up the maximum limits depending on their clients as if their clients are the ones setting up high limits their old habits won't die down. Of course this would only work if their clients don't have other modes or ways to bet in casinos.
What's funny is that crypto users are by default some of the biggest degenerates in general and crypto gambling is just a drop in the ocean. The real danger is playing the market.
That's a really interesting article, and yeah gambling addiction is as bad as any chemical one. I've seen it destroy lives--it just does it in a different fashion than alcoholism, for example.
What I'm wondering is whether that app could help with crypto gambling addiction. The article doesn't mention anything about that, and I would think that's important. The bank can block transactions, but crypto obviously doesn't have anything to do with banks. Unless you have dice sites blocked, you could still gamble pretty easily.
Edit:
What I'm wondering is whether that app could help with crypto gambling addiction. The article doesn't mention anything about that, and I would think that's important. The bank can block transactions, but crypto obviously doesn't have anything to do with banks. Unless you have dice sites blocked, you could still gamble pretty easily.
Edit:
What's funny is that crypto users are by default some of the biggest degenerates in general and crypto gambling is just a drop in the ocean. The real danger is playing the market.
Agree with that completely, but whether they're trading crypto or using it for casino gambling, the whole space seems to be filled with gamblers who've probably got a serious problem with it whether they realize it or not.
I actually found this interesting story of a former addicted gambler who was able to use a bank application made specifically for those who are trying to fight their addiction to help his situation out and I thought sharing it to the community for further discussion would make some sense or if it can probably help someone to cure his or her addiction as well.
It is crazy to see what gambling addiction can do to someone lookong at his story. Addiction is actually one hard thing to get out from and to know an app can really be of help is quite amazing. What do you think?
Quote from: https://www.bbc.com/news/amp/uk-45652429
Tens of thousands of people have signed up to a new service from two mobile-only banks designed to help problem gamblers. One former addict says this "gambling block", available on the banks' apps, helped him beat his addiction.
"I'd be setting my alarm to wake up at 4am to do a first bet," says Danny Cheetham, who began placing bets in his early 20s.
"I'd plan my route to work so I could call in to a bookies which opened early for commuters."
Danny, who is now 29, found himself betting in bookies, on slot machines and online. He gambled a lot on football, which he doesn't even like.
He began relying on overtime from work and on payday loans. In the course of eight years, Danny, who's from Stockport, estimates he lost more than £50,000.
He sunk into depression and moved in with his dad as he could not afford to pay rent.
It was the death of his mum Christine in 2015 that he says was the turning point for him - but he was not able to kick his habit until he signed up to a gambling block with his bank, Monzo. The so-called challenger bank is a mobile-only version of a traditional bank.
Once the block is activated by the customer, it can spot any transaction that person might try to make with bookmakers - either online or in a shop - by using merchant category codes. It instantly stops the transaction from happening, before any money has left that customer's account.
If a customer is tempted to place a bet in the heat of the moment, there is a 48-hour cooling-off period before the block is switched off. There is also a daily limit on cash withdrawals.
Monzo CEO Tom Blomfield says the block was introduced because customers asked for it.
"We have a team of people who work with vulnerable customers and they were getting this feedback quite often" he says.
More than 25,000 customers have signed up to the bank's block since it went live in June.
"Not all of those were problem gamblers [but] about 8,000 people did have a history of gambling," says Mr Blomfield.
"We've... seen a 70% decline in their gambling transactions so [it's made] a really big impact."
Another challenger bank, Starling, is offering a similar type of block. It's gained 20,000 users since its launch in June.
The Royal College of Psychiatrists is calling on the big five high street banks - Lloyds, Santander, HSBC, RBS Group and Barclays - to offer the same type of service.
Doctor Henrietta Bowden-Jones told BBC Radio 4's Money Box: "If you are unable to access funds, this type of gambling block can save people's homes and their families."
The banks say protecting vulnerable customers is a priority and they are always looking at new ways to do that.
The Gambling Commission is talking to financial institutions about how to improve protection for problem gamblers.
Three years on from taking his first steps to beat his gambling addiction, Danny says he is happy.
"And I've actually got money in the bank which I never thought I'd have," he says.
"I'm well on target to being debt-free by my 30th birthday, which is my next one, and I just don't feel depressed or helpless like I used to."
He says he can now think about his future and - although he will have a bad credit file for up to six years - he says this will give him time to save for a deposit for his own place.
"I just don't feel like it's an endless battle any more."
"I'd be setting my alarm to wake up at 4am to do a first bet," says Danny Cheetham, who began placing bets in his early 20s.
"I'd plan my route to work so I could call in to a bookies which opened early for commuters."
Danny, who is now 29, found himself betting in bookies, on slot machines and online. He gambled a lot on football, which he doesn't even like.
He began relying on overtime from work and on payday loans. In the course of eight years, Danny, who's from Stockport, estimates he lost more than £50,000.
He sunk into depression and moved in with his dad as he could not afford to pay rent.
It was the death of his mum Christine in 2015 that he says was the turning point for him - but he was not able to kick his habit until he signed up to a gambling block with his bank, Monzo. The so-called challenger bank is a mobile-only version of a traditional bank.
Once the block is activated by the customer, it can spot any transaction that person might try to make with bookmakers - either online or in a shop - by using merchant category codes. It instantly stops the transaction from happening, before any money has left that customer's account.
If a customer is tempted to place a bet in the heat of the moment, there is a 48-hour cooling-off period before the block is switched off. There is also a daily limit on cash withdrawals.
Monzo CEO Tom Blomfield says the block was introduced because customers asked for it.
"We have a team of people who work with vulnerable customers and they were getting this feedback quite often" he says.
More than 25,000 customers have signed up to the bank's block since it went live in June.
"Not all of those were problem gamblers [but] about 8,000 people did have a history of gambling," says Mr Blomfield.
"We've... seen a 70% decline in their gambling transactions so [it's made] a really big impact."
Another challenger bank, Starling, is offering a similar type of block. It's gained 20,000 users since its launch in June.
The Royal College of Psychiatrists is calling on the big five high street banks - Lloyds, Santander, HSBC, RBS Group and Barclays - to offer the same type of service.
Doctor Henrietta Bowden-Jones told BBC Radio 4's Money Box: "If you are unable to access funds, this type of gambling block can save people's homes and their families."
The banks say protecting vulnerable customers is a priority and they are always looking at new ways to do that.
The Gambling Commission is talking to financial institutions about how to improve protection for problem gamblers.
Three years on from taking his first steps to beat his gambling addiction, Danny says he is happy.
"And I've actually got money in the bank which I never thought I'd have," he says.
"I'm well on target to being debt-free by my 30th birthday, which is my next one, and I just don't feel depressed or helpless like I used to."
He says he can now think about his future and - although he will have a bad credit file for up to six years - he says this will give him time to save for a deposit for his own place.
"I just don't feel like it's an endless battle any more."
It is crazy to see what gambling addiction can do to someone lookong at his story. Addiction is actually one hard thing to get out from and to know an app can really be of help is quite amazing. What do you think?
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