Compulsive Gambling – Negative Financial Consequences

I am a compulsive gambler. It is important to admit this failing within oneself. You learn that you are not alone. Many people just like you have the same problem. Its only human nature to want the best for yourself or your family. When you win something, you get that rush of success. The problem is that there is all too often a significant cost for that “win”. Financial hardship, bankruptcy, loss of relationships, divorce, depression, and even suicide are realities faced by most gamblers.

Gamblers Anonymous can help. Like most addictions, gambling is difficult to control as an individual. GA is a 12 step program, with regular meetings of local chapters. The membership is made up of other compulsive gamblers. Together, and with the aid of their “higher power”, they have fought hard and long to control their gambling demons. Many have arrested this demon for years, some for just months, but they continue to fight their addiction together as they work through the steps every day. No negative influence should be there at site. The addictions of the gamblers will not be there for the benefit of the gamblers. The charges of playing the games will under the budget defined for the person  to increase the bonuses and rewards.

I was not a compulsive gambler entering my adulthood. My wife is also a compulsive gambler. For many years she dealt blackjack in Reno, Nevada. She was inadvertently introduced to gambling at an early age by her parents. She was given a Keno ticket when she was just twelve. Unfortunately, it was a winner. She was hooked. Even though she dealt table games, her addiction was to video poker machines. She has lamented that in the last 30 or more years, she has gambled enough money to buy her own home today, and then some. She introduced me to recreational gambling early in our relationship. Unfortunately for me, on our first trip to a casino, I won a Royal Flush. I was hooked by the rush, and how easy it seemed to win. I have learned the hard way that this is not true, If it were that easy to win, casinos would have gone out of business years ago. I have also realized that I have an addictive personality, like an alchoholic.

There is no easy way to control this addiction. You learn in GA that you must want to quit. Needing to is not enough. You tell yourself that you can quit anytime, after just one more jackpot. This is a seductive lie. Until you hit rock bottom, no matter how much you may despair on the way, you won’t quit. When you finally hit the bottom, when your troubles are finally immense, you can choose to quit. “Falling off the wagon” is as close as your next wager, which can be as simple as saying “I’ll bet you . . . .” to your best friend.

I cherish my wife, She is the love of my lifetime, and my best friend. I’ve told myself many times that if I left her, I would never go back to a casino. But, I will never leave her. Though it is toxic to stay with her. She is one individual I want to keep in my daily life. The financial damage that gambling can inflict on a family has been the reason many marriages do not survive. The despair that a gambler feels when he/she loses a spouse or children because of their gambling, or loses their home or possessions, or the shame of losing their employment, often results in suicide, which is escaping their negative feelings.

One of the most recent human inventions has been the payday loan. Businesses choose to make short term loans to individuals, at a high interest rate to compensate them for their larger risk. Often the interest rates are in excess of 400% per year. The payday loan is a gambler’s best friend. It lets them gamble money they haven’t even earned yet. Multiple payday loans can keep a gambler coming back for more. But, like a house of cards, eventually everything comes crashing down, when the demands for repayment are too much. “Payday loan hell” is a place you don’t want to be. This leads to the high incidence of bankruptcy, the desire to avoid huge debts. A chapter 7 proceeding would wipe out all of the individual liability. But it is better used when debts find us through no fault of our own, like high medical costs due to poor health or injuries. In the case of gambling, you would more likely be placed in a chapter 13, which may prevent additional cost or interest, but requres full repayment of all the debt, over as much as 5 years. It doesn’t leave much wiggle room.

What every gambler must ask himself/herself is, “Am I willing to risk my home, my family, my good credit rating, my spouse, my job, or my very life?” When the answer is, “The asking price is too high!”, STOP!

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Sonja is a professional content writer and is a professional poker player as well. She is here to tell you all about the secrets of this industry that will help you in improving your card game.