Credit card gambling fuels gambling addiction

[coin-investor]

It's long been established compulsive gamblers have this motto "Have Money Will Play" and with credit card in their wallet expect to gamble until their mind cannot keep up, credit card for compulsive gamblers is the easiest way to lose their wealth and mind, some countries are banning the use of credit card and some card issuer are also banning it.

Even if you're not a compulsive gambler you should not use a credit card even once because once you use it you will be tempted to try the second time until you use it all the time and that's where addiction starts and that's where you lose your wealth and your mind eventually.

[TheUltraElite]

If I say it in this way credit card fuels compulsive shopping, because the product is in front of the eyes of the customer and the money is easy to spend does that sound similar? If I say that credit card fuels gluttony because the diners are easy to order from and the money is close, does that also not sound similar?

The point I am trying to make is that companies work with each other to bring that spending attitude to people and the same in gambling. Whether or not you choose to spend/gamble is a choice yours to make. So many people are out there exposed to the same but rarely use them.

So yeah it does fuel but not just gambling, it fuels any of the "seven sins" so to speak. But you can always back the control.

[cheezcarls]

Man I cannot imagine myself using credit card just for gambling. But to be honest, I’ve never owned at least one credit card in my life. Yes I agree that using credit cards would lead to gambling addiction especially if we are on a winning or losing streak.

I do have debit cards however, but still I am not tempted to use any of them just for online gambling purposes.

It would lead me to getting drowned in debt if I have a credit card that I am using to spend and not being able to pay it back the amount that I have gambled.

[Yogee]

I thought casinos didn't accept credit card if there is no money in the card.

It's really weird that you are saying this. Holders can basically purchase anything from merchants that accepts the card as long as it's valid and within the credit limit. The bank lends him money and it will be billed on him later on. That means gamblers can "deposit" $1,000 to casinos using credit card and he'll be allowed to play.

[edmundduke]

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.

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.

Which makes me think that Credit card is far more helping to fuel gambling addiction more than anything else, you don't actually have the money, but you can still gamble, this alone will make people to lose their minds and gamble anyhow.

I'm glad I don't even like using Credit cards for gambling and my reason isn't even because of possible reckless gambling but because I don't like centralized payment solutions, you should stay away from using Credit card to gamble online, it sure would easily throw you out in the street, homeless.

Luckily credit cards are not a huge part of life where im from (surprisingly small % of people even have them) so the issue does not compound with gambling debts/gambling.
As someone who does some modest gambling from time to time i have a very different personal story however. When i need to gamble with FIAT / CC etc, i am extremely risk averse. I almost never do it. When it comes to crypto however, i feel it is way easier to justify making a few best.

[Agbe]

I thought casinos didn't accept credit card if there is no money in the card.

It's really weird that you are saying this. Holders can basically purchase anything from merchants that accepts the card as long as it's valid and within the credit limit. The bank lends him money and it will be billed on him later on. That means gamblers can "deposit" $1,000 to casinos using credit card and he'll be allowed to play.

In my country they wouldn't allow you to use your credit card without cash inside. I have a credit card (master card) which I have been using to purchase things but anytime if I don't have cash inside the card, they wouldn't allow me to purchase and I strongly believe that in my country casinos won't allow place a bet or play game with a credit card without funds inside. Do you know that things in Africa are different from things in advance countries?

[xSkylarx]

I am also glad that I don't have credit cards and I don't have a plan on applying for them because my principle is that if I do have a card that can also be used to pay for some stuff as long as there is money on it we can buy it. There is no need for a credit card it will just make us buy something we don't need and pay it installment which easily triggers us.

This is really sad but this is really happening right now and mostly casinos do it because that is where they are earning money but you are right there are countries banning credit cards just to make the gambler safe. Even though a lot of people don't want it, it is for their own good.

[Yogee]

[....]
In my country they wouldn't allow you to use your credit card without cash inside. I have a credit card (master card) which I have been using to purchase things but anytime if I don't have cash inside the card, they wouldn't allow me to purchase and I strongly believe that in my country casinos won't allow place a bet or play game with a credit card without funds inside. Do you know that things in Africa are different from things in advance countries?

What you're describing sounds like a Mastercard prepaid or debit card. Maybe it's a hybrid of debit and credit card that's only available in your region? What would happen to the cash balance if you use it? I really find it strange that local and international banks there would change what credit card is supposed to be. It just loses the essence of buying things on credit if you need to top it up before you could transact.

Having that restriction there is probably a good thing since gamblers can't just use it as they pleases.

[BitcoinTurk]

Unfortunately, although credit cards seem to make our lives easier, they actually have negative effects on our lives in every sense. Especially individuals who are addicted to gambling, gambling with credit cards definitely causes them to fall into serious debt. Generally, when a gambling addict loses all their money in gambling they want to gamble more and compensate for his loss by winning money. At this point, credit cards come into play because this is the only way these people can find money most easily. Unfortunately, when you start gambling with debt you start losing money and incur serious losses.

Due to the fact that individuals addicted to gambling gamble with credit cards and therefore become under a very serious debt burden it is no longer possible to gamble with credit cards in accordance with the laws of many countries. Although this is a regulation that may seem like an obstacle for a gambling addict it is a law designed to protect gambling individuals especially those with high-limit credit cards and it definitely plays an important role in preventing possible bad scenarios.

[DabsPoorVersion]

I thought casinos didn't accept credit card if there is no money in the card.

It's really weird that you are saying this. Holders can basically purchase anything from merchants that accepts the card as long as it's valid and within the credit limit. The bank lends him money and it will be billed on him later on. That means gamblers can "deposit" $1,000 to casinos using credit card and he'll be allowed to play.

In my country they wouldn't allow you to use your credit card without cash inside. I have a credit card (master card) which I have been using to purchase things but anytime if I don't have cash inside the card, they wouldn't allow me to purchase and I strongly believe that in my country casinos won't allow place a bet or play game with a credit card without funds inside. Do you know that things in Africa are different from things in advance countries?

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.

[CODE200]

Other countries have probably already banned it, with the latest being Australia.

Australia publishes legislation to enact credit card gambling ban

For me, it's not the credit card system that should be blamed; it's always on the gambler. Actually, not all gamblers who use credit cards are addicted to gambling. I think only a few are addicted, so with the ban, it will sacrifice those who are responsible. It's not fair in my opinion.

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.

[BitcoinsGreat]

Which makes me think that Credit card is far more helping to fuel gambling addiction more than anything else, you don't actually have the money, but you can still gamble, this alone will make people to lose their minds and gamble anyhow.

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.

[348Judah]

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.

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.

[rohang]

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

[Hispo]

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.

[Slow death]

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

[NeilLostBitCoin]

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.

[Twentyonepaylots]

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.

[BitDane]

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.

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.

Which makes me think that Credit card is far more helping to fuel gambling addiction more than anything else, you don't actually have the money, but you can still gamble, this alone will make people to lose their minds and gamble anyhow.

I'm glad I don't even like using Credit cards for gambling and my reason isn't even because of possible reckless gambling but because I don't like centralized payment solutions, you should stay away from using Credit card to gamble online, it sure would easily throw you out in the street, homeless.

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.

[Lanatsa]

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.

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.

Which makes me think that Credit card is far more helping to fuel gambling addiction more than anything else, you don't actually have the money, but you can still gamble, this alone will make people to lose their minds and gamble anyhow.

I'm glad I don't even like using Credit cards for gambling and my reason isn't even because of possible reckless gambling but because I don't like centralized payment solutions, you should stay away from using Credit card to gamble online, it sure would easily throw you out in the street, homeless.

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.