Credit card gambling fuels gambling addiction

[BitcoinTurk]

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.

Unfortunately, credit cards are a borrowing method that each person uses according to their own habits as you stated due to their structure. Although it is necessary to interpret it according to the needs of the person, unfortunately credit cards are a bad payment method for many gamblers because it allows the person to easily access money and lose more money in gambling. Of course, nothing has a limit but while a child wouldn't use a credit card to buy $10,000 worth of snacks per month but a gambler wouldn't mind gambling that amount. Similarly, an alcoholic will not spend this amount to consume alcoholic beverages but the gambler will still spend this amount quickly. Of course, nothing is impossible but if we compare certain examples with certain restrictions using a credit card for gambling is more risky than all other factors.

For example, let's say a gambler has a budget of $1,000 and a credit card limit of $2,500. This person will first lose his/her budget of 1,000 USD in gambling and then lose his/her credit card limit of 2,500 USD. After this, if the person has no income during the account statement period this person will lose both his own money and credit card limit and will have to pay the interest on his/her credit card debt. That is the potential loss amount will not be just the amount spent on gambling.

[piebeyb]

For example, let's say a gambler has a budget of $1,000 and a credit card limit of $2,500. This person will first lose his/her budget of 1,000 USD in gambling and then lose his/her credit card limit of 2,500 USD. After this, if the person has no income during the account statement period this person will lose both his own money and credit card limit and will have to pay the interest on his/her credit card debt. That is the potential loss amount will not be just the amount spent on gambling.

that's why it's highly recommended not to use a credit card because it's not a good way to gamble, even some countries have banned the use of credit cards on gambling sites and it's best to use crypto money or other cash, always just use money that we're ready to lose and don't too greedy to play with big money, especially by going into debt using a credit card.

Even though playing with the little money you have is not a problem as long as it can make you enjoy gambling, after all, if you gamble using it, it is certain that in addition to paying debts you will also pay quite a lot of interest costs, my advice is never to use a credit card to gamble no matter how big you feel. If you want to gamble, you should ignore that feeling. If you don't have cash, you should do other activities or gather with your family to divert that feeling.

[LFC_Bitcoin]

Credit card gambling is not smart, as always you should only gamble with money you can afford to lose. Any good bookie will promote responsible gambling but it is the punters responsibility to manage their own funds and budget properly.

Gambling should be fun, putting it on a credit card is an awful idea. The moment it stops becoming fun is the moment to walk away. Consider putting weekly deposit limits on your accounts.

[Docnaster]

For example, let's say a gambler has a budget of $1,000 and a credit card limit of $2,500. This person will first lose his/her budget of 1,000 USD in gambling and then lose his/her credit card limit of 2,500 USD. After this, if the person has no income during the account statement period this person will lose both his own money and credit card limit and will have to pay the interest on his/her credit card debt. That is the potential loss amount will not be just the amount spent on gambling.

that's why it's highly recommended not to use a credit card because it's not a good way to gamble, even some countries have banned the use of credit cards on gambling sites and it's best to use crypto money or other cash, always just use money that we're ready to lose and don't too greedy to play with big money, especially by going into debt using a credit card.

Even though playing with the little money you have is not a problem as long as it can make you enjoy gambling, after all, if you gamble using it, it is certain that in addition to paying debts you will also pay quite a lot of interest costs, my advice is never to use a credit card to gamble no matter how big you feel. If you want to gamble, you should ignore that feeling. If you don't have cash, you should do other activities or gather with your family to divert that feeling.

Gambling with a credit card is one of the easiest ways for a gambler to become a gambling addict because it's definitely gonna make the concerned person to gamble beyond his daily or weekly gambling limits. When someone wants to gamble, there's always an already stipulated limit that's been put in place by that same person so it'll help him regulate himself and stop whenever the limit is reached. But when one is gambling with his debit card, and unfortunately happens to lose until his limit is reached, he'll continue to gamble in other to recover the already lost money and until all the funds in his debit card is finished, he'll continue to gamble.

[CarnagexD]

I actually don’t have negative opinion about using credit card for gambling. Although it would make you easily overspend and become doomed to debt, but hey if you gamble responsibly, things like this will be avoided. So I don’t agree with banning credit cards for gambling, instead it would be more reasonable to ban those gamblers who always gamble without caution. Even if you use fiat, as long as you don’t know how to control your funds, you will still end up with a huge debt and worst become homeless.

Yeah using a credit card won't be an issue if it is used responsibly. I think gamblers get addicted to it because it is very easy to access money that you might not actually have. The first time I actually used a credit card, I was amazed because it was so easy to spend the money! This can lead to impulsive and excessive gambling and gamblers might not feel the consequences right away. They'll only feel it once their debts pile up. And credit cards often charge high interest rates. People should find healthier ways to sustain their gambling habits.

[BenCodie]

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.

Unfortunately, it is their own choice. Or, you could look at it that they have had little to no control and that they were exploited. However you choose to see it, this is the consequence of allowing the mix of credit with 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 comes to a point where you must ask, why didn't they stop at 5 years of debt? Or 1 year of debt? Or 0? How far must it go before it is someones fault, rather than their mistake?

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.

Certainly. Credit is not cash, it's not visible, it's easily accessible for some. It's definitely something that could fuel addiction.

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.

Keep it that way

[maydna]

~snip~

The credit card in the gambling was recently banned by the Australia government,the reason behind this was the usage of the credit card by the children of the gambler.Since the kids along with the parents,the parent can’t monitor their children fully.Some point the government move was god,but it will indirectly promote the crypto based casino and reduce the fiat based casino.The merge of credit cards allow the gamblers to use the credit cards for the many time till their limit of the card in the gambling addiction after some loss.This was cause due to the addiction to retrieve the loss by targeting on the upcoming game.

It is a good move to ban credit cards for gambling because using a credit card means they will be free to deposit money from their credit card into their gambling account. And they can gamble whenever they want, which will put them at risk when their credit card bill comes. It can also trigger addiction because the freedom they get from their credit card, which can be used to deposit money at any time, makes them feel there is no obstacle to gambling. The government's steps are right because they can ban the use of credit cards, but the government also has to think about other things when gamblers switch to using crypto to gamble.

~snip~

Its like what you do on your spending habits on buying things that you want then swipe your card for payments you will decide to use continuously because you feel no any guilt with that. And same on gambling for sure gamblers use that will came to the point that they will never think about what they do or the amount they spend since in the middle of climax while playing for sure they will swipe more until they get satisfied. Later on they realize that they are near to their limits or worse they already exceed because the processors will not accept their card because of that reasons.

Although not all will experience this situation, but most likely this scenario really happen that's why its better not to use our credit card while betting so that we will have guilt feeling while depositing some amount on those casinos.

Yes, you are right because by using a credit card, they will not think that their money will run out. As long as the credit card limit has not been reached, they can still deposit money to gamble, which is the risk they will face if they use their credit card. And that will make them return to gambling more often because they can deposit their money again easily and immediately gamble.

That's why we don't need a credit or debit card to gamble because it will be riskier. We should make a budget for gambling and stick to these rules to avoid the problem of gambling addiction or the desire to chase victory. We can also be calmer because we don't have to think about the credit card bills coming to us at the end of the month.

[Mr. Magkaisa]

         -   As long as you use a credit card responsibly, you are aware that it is truly convenient to do so. Other people—those who merely boast about themselves and believe they never run out of money—use credit cards for unnecessary expenses.

When a gambler adopts this method, it's like he approaches a crocodile and asks it to consume everything that will benefit him. This is the worst kind of technique that other people utilize. Therefore, a gambler should strive to avoid using it on a regular basis; even if you try it, stop.

[Volgastallion]

Credit card gambling is like ATM in casinos, they are there so you can spend (lose) more money, the only way you need to use it or it can be usefull is when its your only payment method.

Nothing is more idiot than have a debt for gambling, if you take a loan to gamble, man you are in big problems.

[YOSHIE]

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.

Those are the effects and risks if we use something that can be used first and paid for later/monthly or annually, Credit cards are one of the factors that currently results from your research being used incorrectly by gambling addicts, credit cards are used inappropriately, quite the opposite.

I'm sure those who use credit cards to gamble, they hope to win and make big profits in gambling. They think that gambling winnings can cover the interest and principal of the money they use every month, in fact they actually suffer losses. This is sad because greed, ambition and lust are put forward. without taking into account what if you lose and can't cover your credit card and if you use a credit card.

Banks should be able to overcome debts and losses for their customers who use credit cards, by implementing one of the detection systems for credit cards, which can only be used for shopping, cannot be accessed/denied for those who use credit cards for gambling sites, perhaps this means users cannot use credit cards to gamble.

[noormcs5]

Credit card gambling is like ATM in casinos, they are there so you can spend (lose) more money, the only way you need to use it or it can be usefull is when its your only payment method.

Nothing is more idiot than have a debt for gambling, if you take a loan to gamble, man you are in big problems.

Also I think that credit card gambling is an old-fashioned way of gambling and many people have abandoned the use of credit cards for gambling. Now a days gamblers use cryptocurrencies for gambling, the easiest, quickest and most convenient way to gamble online  



However, people can still get credit through credit cards, buy bitcoins, deposit in the gambling site and gamble. Yeah, credit cards are still an indirect source to fuel our gambling addiction.

[Winterfrost]

Out of curiosity i tried linking my credit card to an online gambling site just  to know what are there requirement and I found some personal details where requested. Now i understand why it is risky to use your credit card for gambling its not all about getting addicted and take much loan with it. It is risky because your information are saved on their site and only few gambling site can be trusted. Its like sharing your information to a third party, i pray nothing happens to my card.

[len01]

Yes, you are right because by using a credit card, they will not think that their money will run out. As long as the credit card limit has not been reached, they can still deposit money to gamble, which is the risk they will face if they use their credit card. And that will make them return to gambling more often because they can deposit their money again easily and immediately gamble.

That's why we don't need a credit or debit card to gamble because it will be riskier. We should make a budget for gambling and stick to these rules to avoid the problem of gambling addiction or the desire to chase victory. We can also be calmer because we don't have to think about the credit card bills coming to us at the end of the month.

gambling using a credit card is like committing suicide and I am sure we all understand this problem because previously there was thread almost the same as this and I also know that everyone has discussed the evils of gambling using a credit card. at the moment I just think that maybe the use of credit cards very rarely used for other purposes, so the gambling business now seems to provide an opportunity for credit cards to continue to get income from customers, so now there are many online casinos that provide payments using credit card, without realizing it, users who have this credit card are not aware that first time they gamble using that card, it is the beginning destruction because credit cards have very high limits so that gamblers feel that they always have opportunity to return it and negative effect is that they can become addicted because they think they have lost too much and had to return the amount already lost.

anyone who gambler using credit card better think again about this danger. but if you have good self control, dont keep using your credit card to gamble, it might not be a problem.

[Lanatsa]

Yes, you are right because by using a credit card, they will not think that their money will run out. As long as the credit card limit has not been reached, they can still deposit money to gamble, which is the risk they will face if they use their credit card. And that will make them return to gambling more often because they can deposit their money again easily and immediately gamble.

That's why we don't need a credit or debit card to gamble because it will be riskier. We should make a budget for gambling and stick to these rules to avoid the problem of gambling addiction or the desire to chase victory. We can also be calmer because we don't have to think about the credit card bills coming to us at the end of the month.

gambling using a credit card is like committing suicide and I am sure we all understand this problem because previously there was thread almost the same as this and I also know that everyone has discussed the evils of gambling using a credit card. at the moment I just think that maybe the use of credit cards very rarely used for other purposes, so the gambling business now seems to provide an opportunity for credit cards to continue to get income from customers, so now there are many online casinos that provide payments using credit card, without realizing it, users who have this credit card are not aware that first time they gamble using that card, it is the beginning destruction because credit cards have very high limits so that gamblers feel that they always have opportunity to return it and negative effect is that they can become addicted because they think they have lost too much and had to return the amount already lost.

anyone who gambler using credit card better think again about this danger. but if you have good self control, dont keep using your credit card to gamble, it might not be a problem.

Not really totally a suicide if you are really just that responsible towards your spending because even if you do make use of your credit card on gambling as long it would really be done in moderation then it should really

be just fine. It would really just always matter on how much you are willing to spend on that particular gambling session on which we know that there are people who are really that in control towards themselves in speaking about spending which it isnt really just that limited with gambling but also in other things because if you are a type of person whose really that impulsive and doesnt have that kind of control
or discipline then most likely you would really be spending all the credit limit you do have. Yes, it is convenient for now since its not your money being spend but on the time that due date comes or kicks in
then this is where you would really be starting on scratching your head.  

Credit cards do really give out that kind of convenience. Im not saying that interest are shit specially if you do make out some cash conversions on which it is really just that a life saving thing
specially on emergencies and the fact that it doesnt really have no sense on trying to make use of those limits of leisure purposes because it is really just that a waste
if you do make use out of those kind of purpose.

[TopTort777]

Out of curiosity i tried linking my credit card to an online gambling site just  to know what are there requirement and I found some personal details where requested. Now i understand why it is risky to use your credit card for gambling its not all about getting addicted and take much loan with it. It is risky because your information are saved on their site and only few gambling site can be trusted. Its like sharing your information to a third party, i pray nothing happens to my card.

You would be surprised that if you connect your debit card you would get same result Speaking about security - is it possible to perform a transaction online without CVV or confirmation via mobile (those 4 numbers and pin code)? Even though it is bad to save such private info online, it has little to do with gambling site, it is all about cookies that is stored on your device.

Since we are walking around here with same post ideas, could someone tell the difference why gambling with credit card is bad, and making purchases with credit card isnt that bad? While in both cases we use borrowed money

[Findingnemo]

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.

If someone says that it will take 12 years to pay back their credit card dues then I bet my life savings against them that they can never pay it back in their lifetime.

I am saying this is because the interest rate of credit card per annum starts from 24% and can go over 60% in developed countries so imagine the rate in other countries and the worst thing is the interest rate will be levied again and again on your entire dues which will result in a compounding effect.

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.

You are not supposed to use your credit card unless you are sure that you can pay back the due on time no matter what this applies to personal loans too because it is the type of loan that has high-interest rates and if you miss a payment it will take a big hit on your credit line and take years to build that lost scores.

But banks are to be blamed here because they make these people get their credit cards so they can make middle-class people fall for this so they can keep sucking all money from them. I will definitely not encourage the countries that ban credit cards from gambling sites because it can affect the people who are using it in the right way so they are going to miss the cashback and many other rewards just because ignorant people are doing wrong.

[iv4n]

...
Nothing is more idiot than have a debt for gambling, if you take a loan to gamble, man you are in big problems.

This is in total contrast to "don't gamble with money you can't afford to lose". And gambling with money we actually don't have (borrowed money) is a recipe for a disaster. Nothing good can come from that, and I guess it ruins the fun... people who gamble with borrowed money are under big stress for sure, not being able to relax and enjoy the game and thinking about what will happen in a case of loss. Probably that loss comes in most cases, it's gambling, people lose most of the time, especially if we talk about lucky-based games and slots.

[Z390]

It's wiser to avoid using credit card on something that's all about luck, are people stupid? To withstand even temptations this day is hard, so don't go close to anything that could possibly get you captivated by soul.

Normal people are into debt with their Credit cards apart from gamblers, they buy things they don't have money for presently, because their Credit card is there, it is available to come to the rescue, I have never like Credit card, that's why I don't have one, whatever I plan to use I use Bank transfer, I always make sure to stay out of debt by all means.

Also there is no way you can escape a debt on Credit card that's very high, the longer it takes you to pay back the higher the money will become because of the interest rate, Credit card is a punisher of finance, if you don't know what you are about to do, always ask around first, I will never like Credit card, it's like another form of financial slavery by the government and Banks.

[Pierre 2]

I think credit cards usage depends a lot on country. In my country, credit cards have very low rates compared to inflation so not using credit cards in anything (literally) seen as being dumb. But I read that its totally different in many other countries cause credit cards can make you get debts with very high rates. I think this is not that much related to gambling, people are sort of not very into calculating their finances. But still I suggest noone to relying too much on credit cards when you are gambling.

[maydna]

~snip~

gambling using a credit card is like committing suicide and I am sure we all understand this problem because previously there was thread almost the same as this and I also know that everyone has discussed the evils of gambling using a credit card. at the moment I just think that maybe the use of credit cards very rarely used for other purposes, so the gambling business now seems to provide an opportunity for credit cards to continue to get income from customers, so now there are many online casinos that provide payments using credit card, without realizing it, users who have this credit card are not aware that first time they gamble using that card, it is the beginning destruction because credit cards have very high limits so that gamblers feel that they always have opportunity to return it and negative effect is that they can become addicted because they think they have lost too much and had to return the amount already lost.

anyone who gambler using credit card better think again about this danger. but if you have good self control, dont keep using your credit card to gamble, it might not be a problem.

If someone can think about the consequences of using a credit card to gamble and finds that it could jeopardize their bill at the end of the month, they will not want to use their credit card to gamble. They may prefer to deposit money from their account, but that can also make them addicted to gambling because they can deposit money from their account many times. In this case, what needs to be considered is how someone can control their gambling and not use more money to gamble. And if someone with a credit card can do it easily, they don't have to worry about using their credit card to gamble because they won't.

That's right because we have to be responsible with how we use our money, whether using a credit or debit card or making a deposit from a bank account. And we should really have good self-control when gambling so that we don't experience any problems.