Online Gambling Debts – How to Deal With the Causes and Effects of Online Gambling Debts

One thing there is no shortage of on the internet is opportunities to gamble. We are spoilt for choice, whether your fancy is for betting on sports, playing virtual card games or bingo. One of the things that makes internet gambling so potentially dangerous is that it is easily available for 24 hours a day. The real danger comes when you combine this factor with the fact that it is so easy to feel detached from the reality of money spent online. Gradually racking up a debt online does not feel the same as handing over hard earned cash from our wallet, so it is that much easier to lose track of how your online spending is mounting up.

For these reasons, debt problems from internet gambling are on the increase. In this article I hope to clarify some of the legal issues around online gambling, as well as providing some advice on dealing with the underlying problem and the debts that result from it.

Legal Issues Around Gambling Debts

When we talk about debt from online gambling it is important to be clear about the nature of the debt, because who the money is owed to does make a difference. People are often unsure about the legality of debts from online gambling. In the UK you can gamble legally on credit and incur a debt, but this debt is not then enforceable through the law.

However, there is an important point to make here, which is that this only applies when you are using credit extended by the company offering the gambling (casino, bookie, etc). If you use a credit card company to pay for internet gambling, that is a legally enforceable debt the same as it would be in any other circumstance, because you have borrowed money from the credit card company, not the casino. It is now against the law in the US to use a credit card to pay for online gambling.

You will find that many credit cards will regard a payment to an internet gambling website as a cash advance. This is then clearly borrowing money from the card company and the debt you incur can be pursued through legal action. 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 Gambling

In dealing with gambling debts, there are two separate issues to tackle. One is the debt itself, and the other is the habit of gambling that led to the debt. Even if the debt is dealt with, it is likely to build up again if the root cause is not tackled too. Let us first consider the problem of paying off the debt.

The principles for tackling debt are nearly always the same, irrespective of the causes of the debt. To permanently deal with debt you should not be considering borrowing more money or paying anyone to deal with your debt for you. These courses of action are likely to deepen your debt in the long run.

With a little advice, you can deal with your debts yourself, by contacting your creditors and agreeing terms for repayment that you can afford. There is clearly more to it than that, but it is beyond the scope of this particular article. The process is straightforward and allows you to take back control of your finances.

Factors Leading To Internet Gambling Debts

It may help to have an understanding of why some people can become addicted to online gambling. The following are often contributory factors:

Gambling can be thrilling, leading to an adrenalin rush and feelings that we want to recreate time and again.

Many addictive gamblers think that they can win money and that this will solve all their other problems. It actually just leads to more problems by creating debt, which can then make it seem even more important to win the money, creating a vicious circle.

Addiction to gambling can actually be a mental disorder, which can lead to a compulsive need to gamble.

Being addicted to online gambling is often associated with other personal difficulties, including depression and stress.

Online Gambling Debts – The Warning Signs You may have a problem if you can answer yes to any of the following questions:

When you are not gambling, do you think about gambling and how you are going to get back to it?

Have you ever missed work because of online gambling?

Do you feel the need to gamble again after winning or losing?

Is the length of time you spend on gambling getting longer and have you ever spent longer online than you thought you had?

Are you secretive about your gambling with family or friends and do you dislike other people bringing it up?

Practical Steps To Tackle Online Gambling Addiction If you think you may have a problem with online gambling, here are a few simple steps you can take to begin to reduce or stop the habit:

Be open with friends and family and seek help with the problem.

Cancel any accounts you have with websites for online gambling.

Consider using software that blocks your access to online gambling websites.

Keep a proper, ongoing record of everything you spend – take steps to bring home the fact that the money you are using is real.

K D Garrow has worked as a senior manager for the last twenty years, with responsibility for significant financial control. His website offers free advice on paying off debt, including information on how to deal with online gambling debts. The site includes recommendations for the best debt management companies and advice on how to write off debt.

Super Casino Gambling – Online and Offline

Land-based casinos and online casino revenues and site releases are growing faster then ever. Even after the dust has settled following the recent American law prohibiting deposits to online gambling companies, large organisations such as Party Gaming, Ladbrokes and VIP Casino club are all increasing their efforts to attract a wider European or global audience.

Gambling itself is a compulsive and addictive activity, with numerous regulatory societies attempting to outlaw and even ban online gambling around the globe. Regulatory environments themselves differ from country to country. While the US has sought keenly to identify ways of banning online gambling, the UK has lead the way to ensuring that online gambling remains a choice for many, but does not become a threat to others.

Its recent release of a new Gambling Act has sought to protect children and problem areas from abusive gambling, while attempting to levy a tax duty on all income from gambling both offline and online. The Act will make it illegal to entice children to gamble and there will be compulsory age checks for online gambling websites.

Its new Gambling Act will provision for the construction of Super Casinos in selected areas across the country, though this has been scaled down from an initial 40 super casinos to around 8, following complaints from the public and opposition parties. The Gambling Act will allow casinos to operate 24 hours, with unlimited jackpots, and gambling will be allowed on Sundays and Bank Holidays. As far as online websites are concerned, when the Act comes into force at the end of September 2007, companies will be able to apply for a license to operate online gambling website from a UK base.

Countries differ in terms of how they levy a tax on gambling. For example, some will tax each bet individually while countries like the UK, tax only the gross profits that gambling organisations make. Territories like Malta and Gibraltar offer competitive tax regimes as well as the benefits of an off-shore financial centre.

Australia has a large gambling population, where statistic show that 80% of its population gambles. Super casinos are also allowed in Australia, with Sydney’s Star City reputedly the size of 7 football fields. A recent study also showed that Australians spend more money each week on gambling than they do on alcohol or clothes. State government proceeds from gambling have increased to around $3.8bn per annum, since 1998.

What of other jurisdictions across the globe?

Below is a list of some countries and some interesting figures relating to gambling.

Australia

80% of population gamble

Legal age to gamble is 18

$80 billion gambling turnover in 2006

States received $3.8 billion in gambling duties 2006

Online gambling is permitted

Sweden

95% of population gamble

Legal age to gamble is 18

58 billion Swedish Crowns turnover in 2006

Government received 5 billion Crowns in tax in 2006

Online gambling is permitted

Spain

70% of population gamble

Legal age is 18

EUR30 billion gambling turnover

Receives EUR1 billion in gambling taxes

Recently allowed online gambling licenses

Macau

60% of population gamble

Legal age is 18

$6 billion in gambling takings 2006

$1 billion state revenues from gambling

Online gambling is permitted

UK

70% of population gamble

Legal age to gamble is 18 (though lotteries and pools and low stake machine permit 16)

£53 billion gambling expenditure in 2006

UK received £1.3 billion in gambling duties in 2006

Online gambling permitted

US

80% of population gamble

Legal age 18 (most casinos age 21 as this is legal alcohol age associated with casinos)

$82 billion gambling expenditure 2006

States received over $8 billion in gambling revenues 2006

Online gambling prohibited

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