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How do gamblers end up with financial issues?

06 Dec 2016, by Stephen Weisman.

In some cases gambling can end up in some serious legal issues when it comes to gamblers who gamble away more than they have. There are a variety of different gambling options for people to choose from such as online casinos, lottery games, pari-mutuel wagering on horses and dogs, on the internet and much more. While online casinos in particular have a self-help option for those who are experiencing problem gambling, there are some situations when gamblers may need to go one step further and seek professional help before any behaviour becomes destructive. There are a few ways that gamblers can end up with financial issues.

Bankroll Management

Some sources from the Gambling Commission show that in the UK 45% of respondents to the survey say they have gambled within the past 4 weeks, but that doesn’t mean that they suffer from any financial consequences. Good Bankroll management is crucial when playing casino games, whether it be online or offline, this is due to the constantly changing odds and thrills involved. Gambling is meant to be used as a form of entertainment, with the thrill of the risk, anticipation and winning all adding up to provide one exceptionally enjoyable experience. However, one reasons why people end up with financial issues is due to poor bankroll management skills. All casino games, whether it’s a poker tournament or a few spins on the slot, needs to have some form of bankroll management in place in order to ensure that all of their money isn’t wasted immediately. This is similar to how people should invest in the stock market – rather than putting all of their money on one stock that they’re not sure if it will be a success or not, they place various amounts on a number of stocks in order to balance out their money and their potential profits and losses. In most cases, those who end up in trouble are people who are risky, and spend big on every turn that they take, whether that’s on a poker bet where they go all in every time, or on the slot machine where they bet max on every single spin.

Gambling More Than They Have

Gambling is fun and as a popular form of entertainment, some people are likely to spend a lot of money on one of the many casino games. With this, gambling can be made more difficult by those who decide to gamble more money than they have, and then end up in financial issues where they begin to max out credit cards, stop paying bills, overdrawing accounts, not paying loans and ending up in far more debt than those without a gambling issue. However, this is solely down to the gambler rather than the casinos, and all casinos offer various helplines to ensure that gambling remains a safe environment for all of their players. While gambling issues do happen, it is a relatively small percentage of the gambling population who deal with this, and most are more casual gamblers who hit the casinos around the world for fun.

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