One thing there is 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. One of the items that makes internet gambling so potentially dangerous is that it is easily available every day and night a day.
The real danger comes when you combine this factor with the truth that it is very easy to feel detached from the reality of money spent online. Gradually accumulating a debt online will not feel the same as handing over hard earned cash from our wallet, so it’s that much easier to reduce track of how your web spending is mounting up.
Therefore, debt problems from internet gambling are on the increase. In this post I hope to clarify a few of the legal issues around online gambling, along with providing some advice on coping with the underlying problem and the debts that derive from it.
LEGALITIES Around Gambling Debts
When we discuss debt from online gambling it is very important be clear concerning the nature of your debt, because who the money is owed to does change lives. People are often unsure about 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 an important 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 are using a credit card company to pay for internet gambling, that is a legally enforceable debt exactly like 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 america to use a credit card to pay for online gambling.
You will find that many bank cards will regard a payment to an internet gambling website as a cash advance. This is then clearly borrowing money from the card company and the debt you incur could be pursued through legal action. Should you choose use a credit card to cover online gambling this way, you should be aware that cash advances on bank cards are nearly always charged at a much higher interest than normal credit for purchases.
HOW TO APPROACH Debts Caused By Gambling
In dealing with gambling debts, you can find two separate issues to tackle. One is the debt itself, and another is the habit of gambling that resulted in the debt. Even if the debt is dealt with, it is likely to build up again if the primary cause is not tackled too. Let us first consider the issue of paying off the debt.
The principles for tackling debt are often the same, irrespective of the causes of the debt. To permanently cope with debt you should not be turning over borrowing more income or paying anyone to cope with your debt for you. These courses of action will probably deepen your debt in the long run.
Slot303 With a little advice, it is possible to deal with your financial situation yourself, by contacting creditors and agreeing terms for repayment you could afford. There’s clearly more to it than that, nonetheless it is beyond the scope of the particular article. The process is easy and allows you to take back control of your finances.