Topic: Credit card gambling fuels gambling addiction - page 11. (Read 1798 times)

How does this credit card loan even work, do the user with a specific credit card have access to a specific amount of loan which they can take from their designated bank account, or are their some qualifications needed by a country citizen in other for the person to qualify for such loan, i believe before anyone can get such credit loan they need to have some stable income, have a property that can be mortgage and all of that.

Another thing is for a loan which is to be take from credit card, doe it not need to have restrictions on where such loan can be used on? Like the kind of platform they can use their credit card to pay for such, and the kind of purchase they can use such card for, if the government of a country which offer such loan can add restriction to the card their will be a little reduction on the debt rate incurred due to how gambler make use of the credit card.

Common people find it hard to use credit cards. Even without knowing how to make use of it people are having credit cards just for namesake. There are another set of people who doesn't want it, but due to the repeated suggestion from banking side they used to get credit cards. In reality credit cards need to be utilised in the proper way, if not the interest itself a big burden.

As suggested credit card usage into gambling could create big problem as the user is able to make use of the maximum limit of fund for the month or for the specific time period. If the user wasn't able to experience the win, then this is going to be difficult for the gambler as he needs to settle the amount within the scheduled time period. In case, if the amount isn't settled interest starts to add to the amount. This used to be a big burden.

Some countries have banned the usage of credit card on gambling needs, which is appreciable. But with the choice available it is easy to gamble using the credit cards. One simple way is buying cryptocurrency with credit card and the same could be used for gambling. So, people will always have choice and to stay out of addiction and to be on the safer side it is the gamblers mind to decide and have control over it.

Owning credit cards are cool, but the demerits are alarming ASF!!
I'm happy that banks don't borrow cash to unsolicited accounts... Everyone isn't entitled to borrow and pay at Thier will... You'll need a collateral to do so. The major question that deems the interest of the parents on unaffected youths - unborn or closely monitored - is; is this not just another means to thwart the efforts of 'em parents, making out with Thier children without 'em getting involved in gambling traumas???
I've fucking seen cases where kids at 11 begin gambling.... Who taught 'em toddlers?!!

Sandra 🧑‍🦰

It's like a rope in a two way for those credit card users. As they gamble, they know what will be the repercussions of that action.

First, that's what everyone is aware of because you can't beat the house. Next is more crucial, forget about gambling things and its effect but this could impact your record within the bank or the credit card company that you use.

As some of them don't really like that reason for their user to spend their CCs. They may revoke your card and won't allow you for a new application.

The interest alone on credit card gambling is dangerous enough.  What happens is that since its not "real money" people tend to over extend themselves because there is a payback period.  Whereas if it's coming directly from your bank you have a limit as to how much money you need to survive so you can't go too deep.  Credit cards and gambling should not be used.

If you have a credit card, never use it to gamble because you will not realize that you have used a lot of money to gamble. Using a credit card is so easy that many people take it for granted and assume they can pay their bills at the end of the month.

Many people get so caught up in using credit cards that they can't afford to pay them. Even with a credit card, all your savings will be used up without any remainder. I experienced it because of my stupidity at that time.

And I agree that credit or debit cards can impact gambling addiction more quickly because we can go to the casino and use a credit card to gamble. The credit card company will pay for the use of money for gambling, but at the end of the month, the credit card company will be ready to collect the debt from us.

I really don't see how the restriction of credit card on gambling platform could help reduce the number of gambling addicts or prevent them from running into debts. The government might consider this a good decision but lets be realistic, how could this stop gamblers? They can still use their credit cards to buy cryptocurrency from exchange and directly fund their casino accounts from the exchange or from their wallets. If the ban could reduce the number of gamblers running into debts it's just by a smaller number.

Never used a credit card to gamble, I knew this would be a problem because of the benefits it provides but they never looked back at how the debt ballooned and it was clear this would become a worse addiction.

There was a thread here, Australia has banned the use of credit cards for gambling, this is causing problems because the debt level of its citizens is increasing, now their government is enacting laws for this problem, I know there is a positive impact where they can no longer use credit cards to gamble.

It's possible that some countries are still doing it, but we need to avoid that because it's clear there will be big risks when bills continue to increase.

I'm not a regular government worker to have such type of credit card, to have a credit card here, you must have a stable income either weekly or monthly so that as money is coming to your accounts, the banks will sharply take the money they loan you before your payment arrives with interest, I believe that is how credit cards work everywhere, so I don't think banks will worry about how their customers spend their money and they will not because of customers that gamble with the loan money to stop the service.

In every action, there is an equal and opposite reaction, the opposite of credit card is what some gamblers are doing otherwise credit cards are not designed to be used for gambling, it is emergency money when unforeseen circumstances hit you at the wrong time, this fund helps a lot instead of running hecta up and down for people to borrow you money they don't have and some might even have but nobody will lend it out for any reason.

Moreover, I don't have a problem when people use their credit cards to gamble but the question that lies in is do they make a profit from it, if a gambler makes money from the credit card money he deposited in a casino, not a bad decision but losing all make you weak and foolish for risking money that was taking on loan with probably high interest to blow everything on gambling.

Not that the Credit card would really be taken out the blame but on the person whose holding it, im not really that saying that it doesnt fueled up that addiction but it would really be always pertaining on how dumb and

how foolish you are on making up such decision because know that its never been worth on making use of those CC's for entertainment unless if you do decide to spend a dime then it wont be bad
but its unlikely for gamblers who do have that kind of behavior because on the time that they are really that wary that they could spend up their limits then they would likely be doing it and they do really know
that they could possibly be able to play even more since they do have that limit or capability on doing so until they would exhaust all of those limits then this is where self realization would begin.

I consider myself a person who do have that kind of control. Yes, i do have credit cards and i do have make use of it on a single situation on which i do able to make bets using it
but didnt go into the moment on where spending becomes impulsive. It is really that on a very controlled manner. You cant really make yourself devastated if you do have
that kind of  control and disciplien towards your finances or spending.

This is one reason why some country forbid people from using credit card in gambling.  According to this article country like UK make credit card gambling not possible due to its negative impact to its citizen, while Ireland discouraged the use of credit card in gambling. Germany also outlawed credit card gambling in 2020 while Belgium which banned credit card gambling in 2019.  These countries sees that credit card gambling made the citizen to be buried in debt and due to overspending with borrowed funds.

Bro you know it's over for someone if you know that he is gambling out on credit. Imagine you are gambling from money that you don't even own, that's pretty hard, right? But honestly I might disagree with the title "Credit card fuels ..." I don't think it doesn't give that power for someone to gamble, still it depends on the gambler however that's the worst form of gambling. I've been gambling for over 5 years, and I haven't tried it, I do have credit cards but it's my reserve cash, good as cash for personal expenses. I'm not sure if I can gamble with it, but I won't try it LOL. and if there are casinos that take care of this kind of method must be a desperate one.

"Gamble by your means" - One thing I have in mind whenever I play. Everyone should know it for their own sake.

I'm not aware that you can use your credit cards for gambling. I hope our country prohibits casinos from offering this feature, as it could increase debt among many people. Even if they allow it in our country, most people don't have good credit scores to have this kind of debt. Credit cards are a double-edged sword as they can lead to debt even if not used for gambling. What's more, in gambling use.

Using a credit card to play in a casino is something that should not be allowed in any country, I am of the opinion that each person has the right to do whatever they want with their own money, but when we are dealing with credit cards, it means that people are in debt, in a few words people are playing with money that is not theirs and how can they ask for more money so it will be easier for them to play with all the money and use up the limit on their credit card and when their salary comes in the bank will take all the money from their salary to pay the debt they made on their credit card

whereas when people play using their own money, even if they use a debit card, they first pay bills and then use the rest of the money to play. Of course I described a scenario where people are responsible and use money they can afford to lose gambling. because in the case of people with problems of lack of self-control of games, these people even if they don't play using credit cards, they can get into debt and with that they will continue playing with debts and the governments' measures to prevent people from not taking out loans to play will not have any effect

That's why at the end of the day it's up to each person to be responsible and not gamble with money they can't afford to lose, even though every day most people are warning about the danger of people gambling too much, still People don't listen, they put a lot of money into the game and when they lose they sell everything they have to keep playing. I agree with the measure of banning people from using credit cards

It is not completely about the credit card and gambling in an exclusive way, which makes people to take reckless decisions.
Credits cards when first conceived were supposed to be tools so people could use them when they forgot to take cash with them and also as a medium for people to access money easier.

However, through the years the initial concept for the credit card has devolved into something which keeps people into a spiral of consumerism and debt; not completely related to gambling.

On the other hand, we cannot deny that access to credit can worsen the personal situation of anyone dealing with problem gambling.

I have certainly fallen into the credit card debt trap before,  its the worst form of debt as many people say. The interest rates are sky high as well as late fee charges

I know some people who buy crypto using credit card,it doesnt end well for them

I suppose  its a  big reason gambling websites advertise services like  moonpay  to tempt players to use credit cards

Use of the credit card is not what fuels your addiction on gambling, you must have been well addicted before deciding on the use of credit card to make your casino wallet deposit for gambling, if people don't make use of the credit card they still get addiction for gambling because they always have the funds needed to make gambling, why should the means of making the payment be the platform that host their addiction when it they decided not to use the credit card, they can always make use of other means in making payments to gamble, what i think is to first deal with the means one get access to excessive gambling opportunities, if a person is not well disciplined, he can get addicted in gambling and use any means to make bet while gambling.

Well, all credit cards have certain limits and you cannot gamble if you have used a certain portion of the funds already. Similarly, if you are using crypto to gamble, you may tend to take loans etc if you need to fulfil your urge to gamble once you have lost all your money.

An addict to gambling will always find ways to get money from difference sources and gamble with them.

Yes, it wouldn't be fair for responsible gamblers who uses credit cards because for them, it may be the most convenient payment method to use. Of course, using credit card as your payment method can also have a negative effect because sometimes you cannot keep track of how much money you're spending, but if you are responsible enough, you will not let these things happen. It always boils down to the person, we are always responsible on our own choices and that you we should be held accountable of our actions.

I think one way we can do to avoid this from happening is to assess whether we are a compulsive or a controlled gambler, and after you know what type of a gambler you are and happens that you are the compulsive one, it's better not to use credit card when engaging in any gambling activities and that you should find any other alternatives as a payment method.

In my country it is different. You can use a Credit card to play and request for the payment to be installment. It depends on the offer of how many months/years you apply. And if ever that the casino does not accept Credit cards, some Credit cards do offer instant cash, easy cash, personal loans, or anything they call it, you call the bank and tell them you want to apply for the loan, and you will be easily approved, and the money will be deposited in your bank account the same day.