Have you ever been in a situation where you have lost some money at the casino? Whether it be online or land-based. Either way, these losses can be very bad timing. You did not think of a bunch of things while spending all that money, as when you need to pay rent or you need to return borrowed money. If so, then this article is just for you.
Signs of Compulsive Gambling
Signs to watch out for if you think you are deep into gambling: compulsive gambling, losing bets, hiding your behavior, debt that keeps on growing, and even stealing to support your addiction.
Compulsive gamblers may try to win their losses back in one night. For example, if they have lost about $9,000, they will try to win $10,000 in one night to try to “fix” everything back to normal.
What to Do First
Realize that you have a problem.
Gambling addiction, also known as ludomania, is a very serious condition, as severe as depression and other serious psychological diagnoses.
Cut yourself off.
Put yourself on the “self-exclusion list”, so that you cannot play. This may include a “limit”, but if you have a serious issue with gambling, a simple limit will not cut it off. If the casino ignores your wishes, this could leave them in serious trouble. This is why it is very important to know the terms and conditions of where you are playing.
Now once you have admitted that you have a problem, you should get it off your chest and talk about it with experts, psychologists, and online or offline support groups for people that struggle with the same issues.
Added to the Diagnostic and Statistical Manual of Mental Disorders, gambling addictions considered as a substance abuse disorder. That means your health insurance is required to provide some form of coverage for therapy through the Affordable Care Act mandate.
Try to Cease It
If you want to stop spending so much at the casino, one of the first things you should absolutely do is to add yourself to a list of people gambling companies should not distribute. This is so called “self-exclusion”.
If you see that you have a problem, any size, whether you spend too much or you just cannot stop, you should talk to a representative (the customer support service or anybody responsible you can reach on the site).
There are also many support groups online for gamblers if you need somebody to talk to that can relate (just google it).
Learn Terms before Playing
Each casino site has its own written terms and conditions. Almost as if each country has its own laws, these establishments have the right to dictate their own rules. If you have reached this article before playing, it is highly recommended to learn the casino’s terms first.
Moreover, there is a “must-do” before gambling – anyone must visit this site and read the reviews of real gamblers about the most popular casinos in order to find out if a casino is bad or good, if it scams or not and whether a customer support is helpful or not.
No matter how cliché it sounds, this can really help you in the long run. Of course, if you have the budget, you can easily hire a lawyer that will look for loopholes in the terms for you, but it is a lot easier if you know your rights.
This way you understand if they have wronged you on purpose and maybe, this will even help you to get a refund, even though this is tough to do without a lawyer and a lawsuit.
Minimize Your Gambling
Above we mentioned that self-exclusion is a way to stay away from casinos. However, if it is hard thing to do, you can at least try to gamble but only in demo mode. For instance, there are numerous sites where you can try playing free poker with the same feel as if it is for real money. Sure, it will be hard to play at first, but in the end, it will save you from excessive spending.
Pay Off Your Debts
Once you have figured out what the real issue is, you can start working on a plan to pay off your debts and consider such options:
- Work on monthly financing. Learn about how much money you spend and how much less you are able to spend to pay off any debt you owe.
- Try to sell items that you do not need online. You can even do a garage sale in order to raise money.
- Get a second job if it is necessary. You can quit once you have reached the amount you need.
- Look over loan options. Choose such option, if you are sure that you will be able to return quickly the money back.
If you still haven’t found your favorite option, this is not the end. Here are a few more last resort options you can read:
- If your credit is in the right shape, you can look into debt consolidation.
This is the act of taking out a new loan to pay off other liabilities and consumer debts. Multiple debts combined into a single, larger debt, such as a loan, usually with more favorable payoff terms (a lower interest rate, lower monthly payment, or both).
You can reach out to your creditors and ask them to help you come up with a plan for paying off your debts. In some cases, you could get a lower interest payment plan which could help pay off debt faster.
If your gambling debt is in a bad shape and you cannot find any better option, this could help. Some lawyers recommend waiting a certain amount of time from the last gambling debt (usually 90 days).
Either way, whatever you choose, it is important to consider all the options and speak to a specialist. We hope that after reading our article you will say goodbye to gambling. Be gamble aware and good luck!