One thing there is absolutely no shortage of on the internet is opportunities to gamble. We have been spoilt for choice, whether your fancy is for betting on sports, playing virtual card games or bingo. Among the things that makes internet gambling so potentially dangerous is that it’s easily available every day and night a day.
The real danger comes when you combine this factor with the truth that it is so easy to feel detached from the reality of money spent online. Gradually accumulating a debt online will not feel the same as handing over money from our wallet, so it is that much easier to reduce track of how your online spending is mounting up.
For these reasons, debt problems from internet gambling are on the increase. On this page I hope to clarify some of the legalities around online gambling, together with providing some advice on dealing with the underlying problem and the debts that derive from it.
LEGALITIES Around Gambling Debts
When we talk about debt from online gambling it is very important be clear about the nature of your debt, because who the money is owed to does make a difference. People are often unsure concerning the legality of debts from online gambling. In the UK it is possible to gamble legally on credit and incur a debt, but this debt is not then enforceable through the law.
However, there is a significant point to make here, which is that this only applies when you are using credit extended by the company offering the gambling (casino, bookie, etc). If you use a credit card company to cover internet gambling, that is clearly a legally enforceable debt the same as it would be in any other circumstance, because you have borrowed money from the charge card company, not the casino. It really is now against the law in the US to use a charge card to pay for online gambling.
You will find that many credit cards will regard a payment to an internet gambling website as a advance loan. That is then clearly borrowing money from the card issuer and your debt you incur could be pursued through legal action. If you do use a credit card to cover online gambling this way, you should be aware that cash advances on credit cards are almost always charged at a higher interest than normal credit for purchases.
HOW TO APPROACH Debts Caused By Gambling
In dealing with gambling debts, there are two separate issues to tackle. One is the debt itself, and the other is the habit of gambling that led to the debt. Even if your debt is dealt with, it is likely to build up again if the root cause is not tackled too. Why don’t we first consider the problem of paying off the debt.
The principles for tackling debt are nearly always the same, irrespective of the causes of the debt. To permanently deal with debt you should not be turning over borrowing more income or paying anyone to deal with your debt for you personally. These courses of action will probably deepen your debt in the long term.
With a little advice, you can deal with your debts yourself, by contacting your creditors and agreeing terms for repayment that you may afford. There is clearly slot69 rtp to it than that, nonetheless it is beyond the scope of this particular article. The process is easy and allows you to get back control of your finances.