Credit card gambling fuels gambling addiction

[AicecreaME]

Sometimes the convenience provided by credit cards can be a disaster for those who do not understand good financial management, especially in the case of using credit cards for gambling. Using credit cards for gambling can be much worse because besides users increasing debt by using credit cards, they also use them for something unproductive which can disrupt their finances. Credit card companies should prohibit the use of credit cards on gambling platforms, but it is a shame that they do not care about such things.

I very much agree with this.

Credit card usage can pose a danger to the user especially if the user himself doesn't know financial management and isn't disciplined and responsible enough to learn it. Credit card offer convenience and ease of use, however, most of the time, the card holders bring headache upon themselves because they commit the usual mistake of using their cards irresponsibly such as doing excessive shopping and gambling without checking if they can still pay their dues afterwards. Hence, it will really be a good thing if there will be a policy about credit card usage intended for gambling. Might as well limit the possible expenditure per person or do not allow them at all to use their cc for gambling.

[dansus021]

I hear that some countries are trying to make laws to ban credit cards as payment for gambling sites like what happened in Australia "Australians at risk of online gambling harm will be better protected through a ban on credit card payments and fines of up to $234,750 for companies who don’t enforce it, through legislation to be introduced by the Albanese Labor Government to Parliament today. " -  https://ministers.dss.gov.au/media-releases/12446

Gambling on credit cards to be banned from April 2020 - https://www.gamblingcommission.gov.uk/news/article/gambling-on-credit-cards-to-be-banned-from-april-2020

I mean this is a serious business right when gamble with loan money

[deathcode]

I also can't stop thinking about some people who use their credit cards to gamble. I don't know what they expected and what their thought pattern was regarding their actions, I think they are really someone who can't or doesn't think long and hard and doesn't have good financial management.
Using a credit card to shop for daily necessities excessively in my opinion is still normal because sometimes we cannot control our desire to shop if we use a credit card, but using a credit card to satisfy our desire to gamble is a very stupid, fatal and very careless action.
Using a credit card to buy furniture even though it is excessive can still be considered a little useful because we are buying an item that still has resale value if we no longer need it, but if we use a credit card to gamble it is the same as adding to our expenses because in gambling it is certain we will spend more than we win.
In my opinion, gambling using a credit card is not an act that dares to take risks but an act that does not think about the risks at all and i think most likely they are people who already have gambling addiction problems.

[Reatim]

I don't know how deep the debt on credit card gambling is today until I do my own research and mehn, and it's very sad, many people are in debt because they keep using their credit cards to fund their gambling hunger.

That is the most stupid thing that we can find in gambling , when a gambler uses Money in which not his own (meaning borrowed from credit card)
because this will add confidence that you have a complete pack of money to gamble when the truth is? you are only relying on your luck to pay that debit and once you completely lose then the problem started.

Imagine someone you know telling you that it will take him 12 years to pay off his debt, I now know why few countries don't want their citizens to gamble using their credit cards,  betting on credit cards has left too many people in thousands of debt.

That's it , let us not become one of those to be in debt all their life just because of wrong decision in gambling.

Gambling is specifically listed in the fine print of some credit card agreements as a form of a cash advance or cash equivalent. That's bad. Here's why. Cash advance fee: This is a one-time fee charged when you take your advance, usually 3% to 5% of the amount.

Source: https://www.google.com/search?q=why+we+must+not+use+credit+card+in+gambling&sca_esv=570874343&ei=2jEeZcCxKbGm2roPlpmImAo&ved=
0ahUKEwjAhtzh_92BAxUxk1YBHZYMAqMQ4dUDCBA&uact=5&oq=why+we+must+not+use+credit+card+in+gambling&gs_l
p=Egxnd3Mtd2l6LXNlcnAiK3doeSB3ZSBtdXN0IG5vdCB1c2UgY3JlZGl0IGNhcmQgaW4gZ2FtYmxpbmcyBRAhGKABMgUQIRigATIFECEYoAEy
CBAhGBYYHhgdSJyJAVDEI1jKggFwAXgAkAEDmAGyAaABxTWqAQU1MS4yMrgBA8gBAPgBAagCCsICCBA AGKIEGLADwgIWEAAYAxiP
ARjlAhjqAhi0AhiMA9gBAcICFhAuGAMYjwEY5QIY6gIYtAIYjAPYAQHCAg4QABiKBRixAxiDARiRAsI CCBAAGIoFGJECwgIHEC4YigUYQ8ICCBAAGIAEGLEDwgILEAAYigUYsQMYgwHCAgsQABiABBixAxiDAc ICBRAAGIAEwgIHEAAYigUYQ8ICDRAAGIoF
GLEDGIMBGEPCAhEQLhiDARivARjHARixAxiABMICCBAuGIAEGLEDwgIIEC4YsQMYgATCAgUQLhiABMI CCBAAGIoFGIYDwgIGEAAYFhgewgIEECEYFcICBxAhGKABGAriAwQYASBBiAYBkAYEugYECAEYCg&sclient=gws-wiz-serp

actually this is one of the main reason in legality

[Vaskiy]

Gambling with the money they don't have is harmful. When one gambles with the money they don't have, and ends up losing it could lead to instability in his/her living. Just a simple way calculation, one had spent his credit card limit on gambling and lost everything. Now he's in need of money for his month and he starts borrowing. When the payment gets delayed he needs to pay additional interest, and also he needs to repay the borrowed money. If he continues gambling with credit card for few months and was unlucky, surely no other choice than getting into big debts. Understanding this, Australia government have banned gambling with credit cards and allowed Lotteries taking it as low harm. Now this have been under discussion and can expect ban on it.

[Rabata]

The role of the government must be to be able to create prohibitions or special regulations regarding credit cards used for gambling facilities, so that people can avoid debts that accumulate due to gambling.  This will of course have an impact on the economy which will get worse if the government allows it to drag on.

Generally, credit cards are used for shopping purposes to make it easier for users without having to spend cash, but if they are used for gambling, of course it will have a bad impact on the user and more and more people will become addicted to gambling
This will certainly make it easier for gamblers when they don't have money, they will continue to gamble in the hope of being able to cover their debts later when they win a bet and they will continue to repeat this method.

Since a gambler gets short-term credit through a credit card, they choose this route to fund in gambling. When money is lost in gambling, gamblers want to get the gambling money with whatever interest rate will be. If gambling is carried out with credit card debt without any hesitation, then at some point the debt burden will increase and a gambler will be unable to pay it. As a result, he will be in disaster as well as in the financial system of that country. If a gambler gambles on borrowed money it is not a problem but if he borrows from a bank loan or credit card it becomes a big problem.

[len01]

Since a gambler gets short-term credit through a credit card, they choose this route to fund in gambling. When money is lost in gambling, gamblers want to get the gambling money with whatever interest rate will be. If gambling is carried out with credit card debt without any hesitation, then at some point the debt burden will increase and a gambler will be unable to pay it. As a result, he will be in disaster as well as in the financial system of that country. If a gambler gambles on borrowed money it is not a problem but if he borrows from a bank loan or credit card it becomes a big problem.

everything about loan money to gamble, whether it a personal loan from someone else or using a credit card, is all very bad. I mean, we often discuss on this forum that borrowing money to gamble is very bad, whereas gambling is provided for fun using one own money, one can afford to lose, and if one bets using loan money, it violates the basic rules of gambling because at any time gambling will never provide benefits. who easily even always lose. so any loan will not be good if used for gambling and I would also say that control must be maintained because credit cards always give whatever the user asks for so gambling will take advantage of this situation to make more money from gambling.

[Crypt0Gore]

This seem like a valid point, but come to think of it, this is crazy, how can someone use their credit card for gambling activities? It seems not many people understand how credit cards function...

These are reasons why I will never use a credit card for gambling, and if you are good with credit cards functionality you will accept.

1. Credit scores on credit card is a big turn off when gambling, because the more you lost money using credit card the more it has negative impact on your credit scores.

2. Generally, with a credit card, overspending comes easily, credit card is very easy to use, it's faster and this makes it easier to lose track of money spent.

Also there are security risks available when using credit cards to gamble online, you don't just open up a website because you trust them and insert all your credit card details, what if it's been stored somehow without your consent?

[ethereumhunter]

Since a gambler gets short-term credit through a credit card, they choose this route to fund in gambling. When money is lost in gambling, gamblers want to get the gambling money with whatever interest rate will be. If gambling is carried out with credit card debt without any hesitation, then at some point the debt burden will increase and a gambler will be unable to pay it. As a result, he will be in disaster as well as in the financial system of that country. If a gambler gambles on borrowed money it is not a problem but if he borrows from a bank loan or credit card it becomes a big problem.

The debt burden will increase if they don't remember how much money they have used for gambling. And if they continue gambling without clear limits, they will have to pay a lot of money at the end of the month when their credit card bill comes. That will cause difficulties or problems for them, especially for those who don't have a salary or income that can be used to pay their credit card debt. That is why we don't need a credit card to gamble because we have a loan on the credit card and will have difficulty paying the credit card bill.

[Ben Barubal]

I also can't stop thinking about some people who use their credit cards to gamble. I don't know what they expected and what their thought pattern was regarding their actions, I think they are really someone who can't or doesn't think long and hard and doesn't have good financial management.
Using a credit card to shop for daily necessities excessively in my opinion is still normal because sometimes we cannot control our desire to shop if we use a credit card, but using a credit card to satisfy our desire to gamble is a very stupid, fatal and very careless action.
Using a credit card to buy furniture even though it is excessive can still be considered a little useful because we are buying an item that still has resale value if we no longer need it, but if we use a credit card to gamble it is the same as adding to our expenses because in gambling it is certain we will spend more than we win.
In my opinion, gambling using a credit card is not an act that dares to take risks but an act that does not think about the risks at all and i think most likely they are people who already have gambling addiction problems.

    The credit card is very tempting to those who hold or have it; in fact, when you pass by the mall and you see something that you really want, even though it is not in your plan, you will be tempted to use the credit card.

    And if you don't expect to be passed through a land-based casino, you will be tempted to play because you will think you have a credit card, something that is, in my opinion, more dangerous. Because once you get money into a casino using your credit card, you will have a hard time getting out. And it's possible to overspend on betting if you don't control yourself.

[carlisle1]

Since a gambler gets short-term credit through a credit card, they choose this route to fund in gambling. When money is lost in gambling, gamblers want to get the gambling money with whatever interest rate will be. If gambling is carried out with credit card debt without any hesitation, then at some point the debt burden will increase and a gambler will be unable to pay it. As a result, he will be in disaster as well as in the financial system of that country. If a gambler gambles on borrowed money it is not a problem but if he borrows from a bank loan or credit card it becomes a big problem.

The debt burden will increase if they don't remember how much money they have used for gambling. And if they continue gambling without clear limits, they will have to pay a lot of money at the end of the month when their credit card bill comes. That will cause difficulties or problems for them, especially for those who don't have a salary or income that can be used to pay their credit card debt. That is why we don't need a credit card to gamble because we have a loan on the credit card and will have difficulty paying the credit card bill.

Yup, with credit cards we might risk larger amount of money, knowing that we can continue as long as we are not yet on our limits,
but without good control surely, you'll find yourself losing to extent that you will exceed to your limits.

And same with your statement, the chance that you'll be having a hard time paying it back especially if you are not really
ready with overspending your credit limits and you don't have the expected income to cover the monthly charges.

Better to play using your cash or amount that you can let go, spare money that intended to please your entertainment.

[ethereumhunter]

Yup, with credit cards we might risk larger amount of money, knowing that we can continue as long as we are not yet on our limits,
but without good control surely, you'll find yourself losing to extent that you will exceed to your limits.

And same with your statement, the chance that you'll be having a hard time paying it back especially if you are not really
ready with overspending your credit limits and you don't have the expected income to cover the monthly charges.

Better to play using your cash or amount that you can let go, spare money that intended to please your entertainment.

We will not see the credit card's limits because we are too enthusiastic about gambling and depositing money via credit card. And it will be difficult for us when in one day, we use so much money to gamble that we almost reach the credit card limit in one month. That will make it difficult for us to pay the bills. But for those who often use credit cards, maybe they can still restrain themselves from gambling excessively using credit cards and if they can do that, that's good for them. At least they didn't give him a hard time at the end of the month when his credit card bill came. And we should gamble with the money we can afford to avoid problems that could arise later.

[Girlinthehood]

Indeed, your observation about the dangers of gambling with credit cards is pertinent and raises an important issue: indebtedness and reckless gambling. Gambling can have serious consequences, especially when funded by debt.

Using a cryptocurrency wallet to fund gambling activities can, to some extent, offer some advantages in terms of managing gambling-related risks, compared to using credit cards. One aspect might be that cryptocurrency transactions require several validation steps, thereby giving players additional opportunities to reflect on their expenditures before they are finalized.

Moreover, the nature of cryptocurrency wallets could potentially create a separation between gambling capital and household funds. However, this does not eliminate the financial risk associated with gambling and does not ensure responsible gambling practices.

It is essential to emphasize that, regardless of the payment or funding method used for gambling, caution, understanding of the risks, and strict budget management are paramount. Even with the use of cryptocurrencies, it is possible to encounter substantial financial losses and negative consequences for mental and emotional well-being.

[Blitzboy]

Yup, with credit cards we might risk larger amount of money, knowing that we can continue as long as we are not yet on our limits,
but without good control surely, you'll find yourself losing to extent that you will exceed to your limits.

And same with your statement, the chance that you'll be having a hard time paying it back especially if you are not really
ready with overspending your credit limits and you don't have the expected income to cover the monthly charges.

Better to play using your cash or amount that you can let go, spare money that intended to please your entertainment.

We will not see the credit card's limits because we are too enthusiastic about gambling and depositing money via credit card. And it will be difficult for us when in one day, we use so much money to gamble that we almost reach the credit card limit in one month. That will make it difficult for us to pay the bills. But for those who often use credit cards, maybe they can still restrain themselves from gambling excessively using credit cards and if they can do that, that's good for them. At least they didn't give him a hard time at the end of the month when his credit card bill came. And we should gamble with the money we can afford to avoid problems that could arise later.

It's like giving someone a tool without instruction. Credit cards? They're tricky. Those figures make you think, "I've got plenty!" Suddenly, you've spent more than you earn in a month. And for what? A brief thrill?

This is what I noticed. Some gamble like Monopoly with credit cards. Real life isn't a game, and those bills? They're genuine. A notion, or problem: Imagine credit cards with a "gambling limit" You can only spend X on chance games. Would that make you reconsider your next spin or bet?

Gamble for fun, not financial ruin. Be cautious and know your boundaries.

[Mahanton]

I don't know how deep the debt on credit card gambling is today until I do my own research and mehn, and it's very sad, many people are in debt because they keep using their credit cards to fund their gambling hunger.

That is the most stupid thing that we can find in gambling , when a gambler uses Money in which not his own (meaning borrowed from credit card)
because this will add confidence that you have a complete pack of money to gamble when the truth is? you are only relying on your luck to pay that debit and once you completely lose then the problem started.

Imagine someone you know telling you that it will take him 12 years to pay off his debt, I now know why few countries don't want their citizens to gamble using their credit cards,  betting on credit cards has left too many people in thousands of debt.

That's it , let us not become one of those to be in debt all their life just because of wrong decision in gambling.

Gambling is specifically listed in the fine print of some credit card agreements as a form of a cash advance or cash equivalent. That's bad. Here's why. Cash advance fee: This is a one-time fee charged when you take your advance, usually 3% to 5% of the amount.

Source: https://www.google.com/search?q=why+we+must+not+use+credit+card+in+gambling&sca_esv=570874343&ei=2jEeZcCxKbGm2roPlpmImAo&ved=0ahUKEwjAhtzh_92BAxUxk1YBHZYMAqMQ4dUDCBA&uact=5&oq=why+we+must+not+use+credit+card+in+gambling&gs_lp=Egxnd3Mtd2l6LXNlcnAiK3doeSB3ZSBtdXN0IG5vdCB1c2UgY3JlZGl0IGNhcmQgaW4gZ2FtYmxpbmcyBRAhGKABMgUQIRigATIFECEYoAEyCBAhGBYYHhgdSJyJAVDEI1jKggFwAXgAkAEDmAGyAaABxTWqAQU1MS4yMrgBA8gBAPgBAagCCsICCBAAGKIEGLADwgIWEAAYAxiPARjlAhjqAhi0AhiMA9gBAcICFhAuGAMYjwEY5QIY6gIYtAIYjAPYAQHCAg4QABiKBRixAxiDARiRAsICCBAAGIoFGJECwgIHEC4YigUYQ8ICCBAAGIAEGLEDwgILEAAYigUYsQMYgwHCAgsQABiABBixAxiDAcICBRAAGIAEwgIHEAAYigUYQ8ICDRAAGIoF
GLEDGIMBGEPCAhEQLhiDARivARjHARixAxiABMICCBAuGIAEGLEDwgIIEC4YsQMYgATCAgUQLhiABMI CCBAAGIoFGIYDwgIGEAAYFhgewgIEECEYFcICBxAhGKABGAriAwQYASBBiAYBkAYEugYECAEYCg&sclient=gws-wiz-serp

actually this is one of the main reason in legality

Usually it would be playing around 2-3%
Cash advance fee: This is the fee charged every time you withdraw cash using your Credit Card. Typically, it ranges from 2.5% to 3% of the transaction amount
https://www.hdfcbank.com/personal/resources/learning-centre/pay/credit-card-cash-withdrawal-dos-and-donts

Which means that the amount of money you would really be recieving does already have that kind of deduction and you would really be double killed on the time that due date comes on which you would really be
then it would really be just that the same it would really be playing around 2-3% on which means that in overall you had already needing to pay that 4-6% in just a month and this is something that you should
instill into your mind that its never been that ideal on making use of these cards considering those deductions then you would definitely be putting up yourself on great  trouble.

Somewhat making use of CC's arent that bad as long you are really that a responsible card holder. Even myself does have some couple of CC"s but never intended to make use of it on gambling
because its never been worth and just a waste of money on spending it out. If you have decided on making use of it then be responsible on repaying it on time so that
you wont really be experiencing those deep debts on which most people do really encounter or able to experience even if we do speak with those casual
spending but ending up on not repaying on the right time.

[Vaculin]

That’s definitely true. A lot of gamblers are tempted to use their credit cards just to fulfill their gambling habits and see where they are now. Most of them have ended up drown into debt thinking that they would gained remarkable profits in time, but ended up broken and worst some have certainly need to be homeless just to realize their wrong habits. However, despite the negative outcome caused by credit card gambling, new gamblers still don’t learn from other gamblers mistakes and still fuel their gambling habit and addiction through using credit cards.

[topbitcoin]

That’s definitely true. A lot of gamblers are tempted to use their credit cards just to fulfill their gambling habits and see where they are now. Most of them have ended up drown into debt thinking that they would gained remarkable profits in time, but ended up broken and worst some have certainly need to be homeless just to realize their wrong habits. However, despite the negative outcome caused by credit card gambling, new gamblers still don’t learn from other gamblers mistakes and still fuel their gambling habit and addiction through using credit cards.

When someone is addicted to gambling, then they will never be aware of the negative impact of gambling that is carried out carelessly by justifying all means to be able to gamble, including by taking out a loan to fulfill their lust for gambling and indeed people like this will only aware of when they were already at the lowest point of their life.

In fact, the presence of this credit card is very useful because this credit card can help someone who has a need but doesn't have enough money to buy it. However, no matter how useful the credit card is, if it is in the wrong hands, this will be the opposite and become a negative thing.
which is different from wise people, where, no matter how bad things they encounter, when this comes to the right person, it will be a positive thing and can provide benefits.

[stomachgrowls]

That’s definitely true. A lot of gamblers are tempted to use their credit cards just to fulfill their gambling habits and see where they are now. Most of them have ended up drown into debt thinking that they would gained remarkable profits in time, but ended up broken and worst some have certainly need to be homeless just to realize their wrong habits. However, despite the negative outcome caused by credit card gambling, new gamblers still don’t learn from other gamblers mistakes and still fuel their gambling habit and addiction through using credit cards.

When someone is addicted to gambling, then they will never be aware of the negative impact of gambling that is carried out carelessly by justifying all means to be able to gamble, including by taking out a loan to fulfill their lust for gambling and indeed people like this will only aware of when they were already at the lowest point of their life.

In fact, the presence of this credit card is very useful because this credit card can help someone who has a need but doesn't have enough money to buy it. However, no matter how useful the credit card is, if it is in the wrong hands, this will be the opposite and become a negative thing.
which is different from wise people, where, no matter how bad things they encounter, when this comes to the right person, it will be a positive thing and can provide benefits.

True, you wont be thinking about consequences on the time that you are on the field or playing session on which the main thing that you would really be having in mind and wont really be caring about those dangers that lies ahead and you would really be just starting to realize when its already happening on you and this is something that must be avoided in the first place. Credit card does have tons of users if you do really just know on how to utilize those cards on good use but doesnt mean that you are restricted on making use on other means. Just like the rest been saying that as long you would really be making yourself that responsible in towards your spending then it should really be just that fine but if you are really that careless and irresponsible and doesnt mind off about those con's then for sure you would really be ending up on a disaster.

Dont make yourself get hooked with addiction because once this thing would really be crawling into you then there's no way on easy to get out and this is something a problem that you would really be that might ending up
on having that devastation into your life or living when it comes to money. This is why getting that responsible on things is a must priority rather than making yourself hoping on something which it cant be possible through gambling because house do always win at the end or particularly it always matter on luck.

[Tuturtinular]

That’s definitely true. A lot of gamblers are tempted to use their credit cards just to fulfill their gambling habits and see where they are now. Most of them have ended up drown into debt thinking that they would gained remarkable profits in time, but ended up broken and worst some have certainly need to be homeless just to realize their wrong habits. However, despite the negative outcome caused by credit card gambling, new gamblers still don’t learn from other gamblers mistakes and still fuel their gambling habit and addiction through using credit cards.

When someone is addicted to gambling, then they will never be aware of the negative impact of gambling that is carried out carelessly by justifying all means to be able to gamble, including by taking out a loan to fulfill their lust for gambling and indeed people like this will only aware of when they were already at the lowest point of their life.

In fact, the presence of this credit card is very useful because this credit card can help someone who has a need but doesn't have enough money to buy it. However, no matter how useful the credit card is, if it is in the wrong hands, this will be the opposite and become a negative thing.
which is different from wise people, where, no matter how bad things they encounter, when this comes to the right person, it will be a positive thing and can provide benefits.

Using a credit card to gamble is the beginning of disaster because he will definitely be in debt. Initially the addict tries to use a small amount of money from the credit card but if he loses he will deposit again and again with a larger amount of money.

When his credit card limit runs out and he doesn't get the jackpot, he will fail to pay. He starts borrowing money from close friends or family and all his debts will increase and in the end the gambling addict will go bankrupt.

[dothebeats]

That’s definitely true. A lot of gamblers are tempted to use their credit cards just to fulfill their gambling habits and see where they are now. Most of them have ended up drown into debt thinking that they would gained remarkable profits in time, but ended up broken and worst some have certainly need to be homeless just to realize their wrong habits. However, despite the negative outcome caused by credit card gambling, new gamblers still don’t learn from other gamblers mistakes and still fuel their gambling habit and addiction through using credit cards.

Most of these people would have easily avoided getting in debt if they knew the word self-control. This is what people are lacking that's why they are spiraling down on debt. Credit cards aren't that dangerous, especially if you keep everything in check. You can use it to virtually anything that the credit cards allow to buy, even gambling. You just have to make sure that you are not indulging and overdoing your spending.