Topic: Credit card gambling fuels gambling addiction - page 9. (Read 1461 times)

While it's just your example but I do find it exaggerated because if someone who takes a credit card and was able to reach up to 12 years of paying it, I don't think the bank would allow unless that gambler have left that debt for so long and ignoring his obligation.

But if it's not exaggeration to you, that's fine, we're just up to discussion and we've got different opinions about it.

That fellow, as you've said, we all know how much we make but that guy is different and probably saw himself unguarded during that time.

Yup, that isn't a joke and that's why I thought of it as exaggerated but if that's not really an example and true to life. Your advice to him is right, getting more source of income and work for it. That's the only way he can get out of that debt.

On his end, that's an exaggeration but he asked for and did it on his own so, he has to pay for it.

For the casino, it is profit that's the end goal . For the credit card company, it is also profit that is the end goal. And it is never going to end. Although there have been calls to ban the use of credit cards for gambling purposes, I do not think that it would work. This is a very complex senario. While it may be effective for onsite casino, it will not be in online casino.

The credit card in the gambling was recently banned by the Australia government,the reason behind this was the usage of the credit card by the children of the gambler.Since the kids along with the parents,the parent can’t monitor their children fully.Some point the government move was god,but it will indirectly promote the crypto based casino and reduce the fiat based casino.The merge of credit cards allow the gamblers to use the credit cards for the many time till their limit of the card in the gambling addiction after some loss.This was cause due to the addiction to retrieve the loss by targeting on the upcoming game.

Can't blame them after all it is a play now pay later system. And paying may never even happen because more delinquents are doing it anyway. I would probably do the same if I do have a credit card and I won't even have to play but just invest using the credit card to buy assets.

Those who play however surely don't have any idea what is going on in the economy but they are using the credit card hoping to make money. But these are probably newcomers in crypto casinos.

Having a credit card being used in gambling is literally tempting. No wonder there are lots of people who are falling for gambling addiction in most countries with active credit cards. There are already countries that are planning to ban gambling sites in credit cards because lots of credit card holders these days are falling into addiction.
I think credit card companies are offering opportunities yet it is our personal responsibility to spend wisely as we all know the struggle of having huge debt. We should only gamble what we could afford to lose and using borrowed money for gambling will never be a wise idea because we will only end up chasing our losses.

You wont really be having that feeling of guilt on the time that you do know that you are the holder of such credit card, you do know that it was given into you and you have applied for it on which you would  really be thinking that you do have the full rights on what you should gonna do with your spending or on how you would really be making use of that card. It is really just that people do really skip out on thinking up carefully on what are the possible consequences on which you might encounter if you do really make yourself that careless or not responsible for your spending or on how you do make use of your card on the right way.
It isnt really that bad on using it on gambling as long you do have in moderation but most likely you would really be breaking that kind of thing when the habit becomes that an impulsive kind of activity.

You would really be most likely be ending up on being that an addicted person if you do keep on considering on having that kind of behavior in towards your credit card.
This is why it would be always preferred that you should really be that responsible on whatever spending that you do specially on something that you dont own or something that do talks about credit.
It do really sounds good on having these cards but on the time that due date comes then this is where things becomes shit.

Maybe you can't blame the system for someone getting addicted to gambling, but that system is actually providing them with the opportunity to gamble more even if they don't have the funds at hand at that moment. When you don't have a credit card, and only have a limited amount available, once you gamble that amount, you will have no more money to keep gambling maybe with the hope of recovering something back, and that might make you stop right there.

But when you have a credit card with available credits, you can simply keep gambling without stopping, maybe your intention is to only get back some of the money you've lost but you will eventually keep losing and those losses are all debts piling up on your name in the bank which will leave you with nothing in a very short period of time.

If they don't feel guilty when making a deposit using a credit card, it will harm them because they can use a lot of money. They can easily deposit another amount when the money runs out, and it seems as if the credit card has no limit so they continue to use their credit card. That is why using a credit or debit card is not recommended because it can make people forget themselves and deposit their money many times if they lose when gambling.

It can also trigger gambling addiction because they can still deposit money to gamble as long as the credit card limit has not been reached. They really have to cut up their credit cards so they can't use them for things they don't need.

Maybe because by using credit card for depositing you cannot feel guilt then continue to deposit when you are continuously losing. Unlike you use your own personal funds where you slowly start to doubt when you see that your money is starting to became more lesser. Although we can't entirely blame this on credit card because its still up on the attitude of the gambler since if he's careless on his credit card finances for sure he will just end up getting max out his all credits. But if he is well discipline man for sure even if he use credit card no excessive putting some risky bets and deposits on their end then they will be more careful placing their bets also the amount they used on their credit card for deposit.

Addiction can be trigger on any situation so its not all about the usage of credit card but how people handle his self on his gambling habits.

Yes, that's what I mean, why do you have to think so hard that credit cards are what trigger people to become addicted to gambling even though it comes from the gambler's behavior and self-awareness, it's strange to hear that, why do people think that credit cards are the trigger, isn't physical money the same? It also has an influence and triggers people to become addicted to gambling if they have a lot of physical money in their hands.

Moreover, if the gambler can control himself, of course he will not use credit cards excessively, of course he has his own limits for gambling use, whereas we also know that every credit card has limits, so it is impossible because credit cards can trigger gambling addiction.

What you say is true, it all comes back to each person's self-awareness as a gambler.

Something makes me think that this story is suspicios. Dont know what country you are from, but banking credit card system must be equal in every country. Just explain me, if he makes around 300 bucks per month, how the hell bank gave him credit card with 30k limit? Or havent suspended it when the debt was just few thousands and asked to close that debt? That is not a problem of gambling then, the bank is shady. They have drugged this guy into debt on purpose. Banks issue credit cards based on persons income. If he has no credit history in that bank, the bank could not made his credit card limit more than 2-3 his monthly salaries. Banks are not stupid, they protect their money.

Just to be clear - there are category of people called shopaholics. They also use credit cards to buy more things that they can afford. Should such category of people also not be allowed to have credit cards?

I’m not sure how credit card works in your country. In my country, credit limit on cc usually based on the source of income amount. Eg. I have 500$ salary per month then my initial credit limit will usually near my salary since bank will never entrust a credit that is not feasible to be paid using the source of income. The credit limit grows based on the expenses and payment on time score.

With this credit limit basis. There’s no way for a person to become homeless or wreck just because of the debt on credit card since the limit being given on each user is properly assessed in proportion to the source of income. No one can have a 1M credit with 500$ salary or anything that has an insane ratio of salary to credit limit.

The only problem on cc being connected on gambling is the chance to expose credit card account once the casino database leaked which might lead to compromising the credit card. This is the reason why I don’t connect cc with my gambling account or any services online.

go into debt to gamble? Wow, that sounds really scary. I think they are classified as gambling addicts. I have a story from my friend that is almost similar. he didn't even care about his family's assets. he only sold it to gamble. because of that he was considered an addict who needed to be rehabilitated.

Same, but more like I just abhor using credit cards in general. Don't get me wrong, I get its appeal, but it all the more reason not to use it imo. It just seems like a dumb idea to normalize that setting where you can buy stuff whenever you want but be in debt because of it. Especially if you consider how most "stuff" falls into categories about you splurging, in this case, gambling even, which isn't wrong, but hell, I would never, ever take a loan to splurge for my entertainment. I can go a long way without a source of one if needed and there's also other sources of entertainment without needing to spend money.

The casino that you're using to gamble is centralized so this isn't the problem,  any individual having debts on their credit card are responsible for that because they're not the only ones using a credit card. This is all about discipline because when you're discipline you'll know when to stop gambling and take a rest but if you're not discipline then you can easily get addicted and continue gambling until you get into debts, it's an individual issue not centralized system issue.

Cryptocurency has also added to the rate at which individuals gamble without knowing that they're losing money as cryptocurrency aren't physical money so some individual aren't attached to it and they can use it carelessly without caring what's happenings to their finances.

I'm not really much in favor of using credit card as payment method for gambling. Sure, it provides convenience and ease of use for the gamblers, but it also paves way to irresponsible gambling habits build via repeated routine. It will just really keep you on the lowest of lows. To begin with, if you don't have enough money to fund your vices, then you shouldn't really be gambling at all. Because you should only spend what you can afford to lose. And losing something you don't even possess is plain stupidity and a headache to happen. Hence, I'm not really surprised that some countries prohibits the usage of credit cards for gambling. There are still other cards that can be used such as debit card that can still provide accessibility.

If truly you've get to know people that can't ever pay their debts because the amount is enormous for them then why are you saying that paying debt for 12 years is exaggerated? In what way? Everyone knows how much they make every month, and paying back what they owe is coming from how much they make monthly, this is no exaggeration.

This fellow have wasted 30k on gambling, and he has 28,800$ left to pay back, he made not less than $300 per month, and he said he can only pay $200 back every month, do the math yourself, $200 in twelve months is $2400 and in the next 12 years that is $28,800$, I was ridiculed because of this problem he invited into his life.

I advised him to try making extra earnings, 12 years isn't a joke as he will end up working for the long term only to pay back his debt, what about his life? I advised him to figure out how to earn more money monthly because that's the only solution I can think of, it's not exaggeration,  it's something that's still fresh.

I absolutely agree with you. All these measures to reduce the level of gambling addiction among the population undertaken by the governments of many countries practically do not work and it is high time to recognize it. Instead of expanding the base of institutions that would identify people psychologically prone to addiction at an early stage and help people who already have gambling addiction, they pretend to work hard to improve the lives of their citizens.

I wonder if Australian politicians have ever thought that by their measures they provoke gambling addicts to crime in order to get money to continue gambling?

I guess you are talking about me, because I found Australian credit card ban policy stupid, useless and made fun of it. Because I dont see a scenario when it works. What stops gambler from using debit card, and when its balance turns zero, go out, take a loan, make a deposit and continue gambling with someone else money? What stops gambler from taking a loan? Or selling stuff, or using pawnshops to get money?

Like I've said before, addicted gambler will always find a way to get money. You can ban credit cards, debit cards, cash deposits, crypto and etc, but true gambler will always find a way to place a bet.

If gambling is the root of problem, why not start finding solution from there? Make a limit of 100 bucks deposit per month for every newbie or rank 1 gambler. I think everyone can earn a hundred per month. Here is the solution against huge debts. But casinos will never agree to that.

This is the reason why Australia has imposed a strict ban on gambling using credit cards. IMO, credit cards should have a specific limitations on how it's going to be spent. I mean credit cards should have at least 70% on the total credit limit on essential needs and 30% on non-essential stuff (this includes gambling). I'm not sure if some countries have this kind of credit card usage, but I thought this is very effective against over spending on non essential stuff.
I'm also super fine with totally banning credit cards in gambling. We've seen a lot of compulsive gamblers and having a credit card in their wallet is another step closer to becoming broke. I wonder why some of the government from other countries ignore this kind of issues. Well, maybe because casinos can generate millions if not billions annually and the government officials are benefiting from it.