Credit card gambling fuels gambling addiction

[shinratensei_]

I believe that the surge in online gambling's popularity has been influencing it. The credit card has become a popular method among many individuals who see it as a convenient way to acquire funds for betting purposes.

Look at this chart.



The trend is shifting towards online gambling as people are gaining more confidence in it compared to land-based gambling. The impact of this situation is so significant that people are resorting to using credit cards as their primary means to obtain funds in order to facilitate their gambling activities.

Im not even surprising to see people are being trapped in the big debt. It's happening everywhere.

[1714855196]

1714855196

[1714855196]

1714855196

[1714855196]

1714855196

[1714855196]

1714855196

[carlisle1]

I'm lucky that the bank i'm currently using doesn't allow this because they're very strict with gambling transactions similar to crypto exchanges.

Also, I prefer avoiding credit cards unless it's the only payment option I have and I know I can pay it within the timeframe because it could tempt you to spend over your limit when it can be avoided by managing your funds consistently.

I agree with that statement, just the same with how you use your credit card. Sometimes even you really don't need something, but if
credit card payment is available, you will push for it and buy the item.

Imagine if a credit card is allowing you to transfer money to your bankroll and you are on the losing side. You will keep on adding to the point that
you will use the max limit and if luck will not permit you to win, that will serve as additional burden to you.

Better to set your bankroll and not to let any emotion to lead you to add more money. If you lose your set bankroll, call for the day and
let it be better luck next time.

[bittraffic]

Im not even surprising to see people are being trapped in the big debt. It's happening everywhere.

They are deliberately hitting the floor by using their credit card. They know they won't be able to pay their debt even if it's less than $5000 so they might as well just take 50K depending on their limit. Either play it in a casino or buy stuff.

If they are smart enough, they should be using their credit card to buy BTC within the casino as they will have access to Moonpay and the likes.  Hope they won't bet it though.

[noormcs5]

Imagine if a credit card is allowing you to transfer money to your bankroll and you are on the losing side. You will keep on adding to the point that
you will use the max limit and if luck will not permit you to win, that will serve as additional burden to you.

Yes, this is one way to keep getting more money for gambling in the form of a credit card but then what happens when you have exceeded the limit of the credit card but your urge to gamble more is still there? Remember anyone who is willing to utilize all the credit card limit is not a responsible gambler and this means that he won't stop after the limit gets exhausted. He will try to get money from friends, get loans and in some cases may sell his belongings for gambling.

So my point is that a sensible gambler will never spend extra money on gambling no matter he has a credit card or not and a addicted person will not stop gambling only because he does not have a credit card.

[Poker Player]

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.

People use credit cards to finance everything, so it is not surprising that they also use them for gambling. But it is not only that, nowadays access to credit is very easy, I know people with their salaries garnished for having taken instant loans for gambling and not being able to pay them back because they have lost the money they bet. The problem with credit cards is the high interest rate, but those who gamble with financing their gambling with credit cards end up as those who finance it with any other type of credit, in ruin, foreclosed, and/or with wages garnished.

Look at this chart.



The trend is shifting towards online gambling as people are gaining more confidence in it compared to land-based gambling. The impact of this situation is so significant that people are resorting to using credit cards as their primary means to obtain funds in order to facilitate their gambling activities.

Im not even surprising to see people are being trapped in the big debt. It's happening everywhere.

It is normal that if this market is growing, so are the people who get into debt for gamble, besides, as you say, it is in line with what is happening in society, where getting into debt is the most normal thing to do.

[mindrust]

Credit cards fuel every kind of purchasing addiction out there. Women buy make-up products, men buy more home depot stuff, kids buy more junk food, alcoholics buy more booze, investors buy more stocks and finally gamblers buy more game chips. We can’t really do about it since credit cards a part of the financial system. The good thing is, the interest rates are so high right now, it doesn’t make any sense to borrow money unless you are very desperate. In this environment, borrowing money is a quick way to get poor or worse, bankrupt.

[BitcoinsGreat]

Credit cards fuel every kind of purchasing addiction out there. Women buy make-up products, men buy more home depot stuff, kids buy more junk food, alcoholics buy more booze, investors buy more stocks and finally gamblers buy more game chips. We can’t really do about it since credit cards a part of the financial system. The good thing is, the interest rates are so high right now, it doesn’t make any sense to borrow money unless you are very desperate. In this environment, borrowing money is a quick way to get poor or worse, bankrupt.

The credit cards do fuel up gambling addiction but is it only the credit cards?

The casino will also offer a lot of bonuses and promotions from time to time and these things also add up to forcing the gamblers to play more than usual and become addicted to it.

[Die_empty]

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.

The rate of debt because of the use of credit cards to gamble is quite alarming. But the cause might not be the cards but gambling addiction.  In my location, the use of credit cards is not popular so gamblers use alternative means. I have seen gamers take loans using their personal belongings as collateral because of gambling. The problem with these people is not credit cards but lack of control. Some persons can even engage in criminal activities just to have access to money for gambling.

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.

In Australia, the use of credit or debit cards for fiat gambling is banned. Now the country wants to extend the rule to crypto gambling.  This will indeed help to reduce the gambling addiction of those whose cards are what triggers the drive to gamble. But I know that we have many responsible gamers that have access to multiple cards. Credit cards are not the only cause of gambling addiction, there are many other triggers and the government should act on them.

[traderethereum]

Credit cards fuel every kind of purchasing addiction out there. Women buy make-up products, men buy more home depot stuff, kids buy more junk food, alcoholics buy more booze, investors buy more stocks and finally gamblers buy more game chips. We can’t really do about it since credit cards a part of the financial system. The good thing is, the interest rates are so high right now, it doesn’t make any sense to borrow money unless you are very desperate. In this environment, borrowing money is a quick way to get poor or worse, bankrupt.

We can refuse to use a credit card and if the bank offers us to take a credit card, we can refuse it so that we will have problems later.
Using a credit card is fun because we can shop and don't need to use fiat money, but at the end of the month, we have to return the money we used for shopping to the credit card company.
And it will be even worse if consumers use credit cards to gamble and that is not recommended because gambling can make them forget and not be able to control the use of money from their credit cards.
We should distance ourselves from problems that may arise and not using credit cards is one way to avoid these problems.

[rahmad2nd]

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.

Whatever the background, if an addict has the opportunity even though he doesn't have the capital to gamble, he will be tempted to fulfill his great desire. and that opportunity is the basis on which someone can ignore common sense to think rationally, when we discuss credit cards & gamblers. In fact, if a credit card is used properly, it will be very useful for the user. In cases like this, we tend to depreciate something or a tool as a victim of our own actions.

I will quote what you said, "Imagine someone you know telling you that it will take him 12 years to pay off his debt". This would be something very scary, considering that what a person does for any action including gambling becomes a big problem for someone. However, in the case of credit cards, we will actually find many problems there, not only for gambling. Many users use it carelessly, without thinking long about how to pay it off in the future if they spend a lot of money from the tool we call a credit card.

For me personally, the point is not about the credit card, but that we are the users. Likewise with gambling, we have discussed many threads and posts that always link addiction. but in essence it is not the credit card or a casino that triggers addiction, but we are the ones who let ourselves go too far without being accompanied by control and self-awareness IMO.

[Oasisman]

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.

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.

[TopTort777]

I find it strange how some members called the policy of the Australian Government to ban credit card usage in online gambling. They called the move as stupid and even made fun of it. They justify that it decreases the potential taxes to be collected but they didn't realize the effect of gambling on credit to the gambler. Now we see this thread that addresses it.

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.

[madnessteat]

I find it strange how some members called the policy of the Australian Government to ban credit card usage in online gambling. They called the move as stupid and even made fun of it. They justify that it decreases the potential taxes to be collected but they didn't realize the effect of gambling on credit to the gambler. Now we see this thread that addresses it.

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.

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?

[Outhue]

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's a trap for most people that don't know how to use credit cards. It is not only the gamblers that uses their credit card to fund their casino accounts but also those that keeps on swiping without paying their debt at the right time.

They think that they'll be able to pay it on time so, they're confident to just keep on using their credit cards on any purpose that they like and one of it is in gambling.

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.

It is sort of exaggerated about paying a debt for 12 years but trust me, I've known people that can't even pay their debts for more than that year and even asking for condonation and restructured payment, they still can't. That's why irresponsible usage of it will really put you on greater 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.

Well, this is on the gambler themselves. Whether they have credit card or cash, as long as they have the urge to gamble, they will gamble no matter what. Let's take a look at those gamblers that don't have anything but still want to gamble, they do something to sustain that crave they have for gambling.

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.

Although there are too many perks that one can enjoy by owning a credit card, I choose not to own one since we're free to apply for it and the bank will just have to release it then.

I've just seen it from others that when they have it, they're like unstoppable spenders whether it's for gambling or other things they want.

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.

[AicecreaME]

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.

[irhact]

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.

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.

[Wexnident]

~
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.

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.

[kojektea]

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.

[Coin_trader]

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.

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.

[TopTort777]

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.

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?