How to deal with Gambling Addiction and the debt that comes with it?

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Gambling is something that is inherently part of popular culture, it’s often portrayed in movies and media as a high-end sophisticated past-time that glorifies Las Vegas casinos yet we all know the reality is a lot different.

Online gambling has enjoyed a boom over the last 15-20 years or so but with this comes a rise in addiction. For the UK Gambling Commission and many other governing bodies the types of addiction that online gambling can be a lot different to what we think of in its traditional sense. In a survey carried out by the commission in 2015, studies found that 62% of people gambled, with 1% of people identifying as problem gamblers. A further 4% of people surveyed explained they were at a moderate to low risk of facing addiction or problems with their gambling.

Gambling addiction is an illness that shouldn’t be taken lightly. Addiction on the whole is something that can affect the relationships that you have with your friends and family but both your financial situation that can lead to issues with your bank or even lead to further mental health issues and things like that.

This article is designed to give you tips and insights into how to overcome gambling addiction and deal with your financial problems relating to your addiction.

Cut off your source of funding

If you’ve been sustaining your gambling with many different payment methods or multiple cards this is only enabling your addiction, try minimising the options you have to deposit, slowly cut-off your access to certain credit or debit cards or nip the source as a whole. Additionally, it’s also possible to stabilise your credit report which increases the difficulty of opening any new credit card or loan accounts to feed you’re playing habits. Recognising that you have a problem is the first step and often the eye-opener that you need that will aid the next steps of your recovery.

Don’t Chase your losses

The psychology of gambling is a very complicated phenomenon but at its most it boils down to whether you can walk away or not. The trick is to only gamble what you can afford and see gambling as a form of entertainment rather than a way of making money. For example, if you set £50 aside to play some blackjack or slot games then you can be safe in the knowledge that you have fashioned a start and end to your session. Setting strict depositing limits is a good way of maintaining these time and depositing variables.

If you do lose, don’t chase your losses. Accept that this is part of the risk and enjoyment of gambling. It’s a common occurrence for many gamblers to think their next spin or next hand will be the one where they recover, most of the time this never materialises.

Seek professional treatment

Looking for help from friends or family can often put you both in a difficult position, theirs feeling and emotions involved which often lend themselves to creating a lack of objectivity when it comes to treating your behaviours. There are many trained medical professionals who can talk through your problems and the psychology behind it. Once you understand the issues that lead your unhealthy behaviours you are separated from the issue and in pole position to amend the situation.

Once you’ve done this you can begin to create healthy habits. Why not create a list of people you owe money to and slowly look to pay back these debts.

Scott Manford, CEO of Easy Slots said: “We take the well-being and safety of our gamers very seriously at Easy Slots and always pay close attention to some of our players who seem to be developing a problem. We strongly advise players to set reasonable deposit limits and refer to our responsible gambling policy whenever they feel necessary. Learning how to minimise risk gambling is key”

Problematic gambling is a very real issue across the globe and can effect anyone, at any time. The more we can do to normalise the addiction the easier it will become to treat the problems that are at bay. Always understand that there are many means of seeking help for your addiction and developing healthy habits to curb your addiction.

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