Dealing With Gambling Debt

More often than not, those who have gambling problems or an addiction to gambling fall deep into debt. The debt becomes a major problem when it transcends owing money to casinos. Instead, gambling addiction can rack up major credit card debt, loan debt, and even extremities (though not completely unheard of) such as home equity debt. If this sounds like you, whether you own $500 or $5000, there are ways of dealing with the debt that follows the addiction.

Seek Help for the Gambling Addiction

Before you begin dealing with debt, it is imperative you get help for your addiction. It’s been proven in many cases that gambling addicts are less willing to admit their problems than someone with a substance abuse problem. Not only should you get help for yourself, but for the ones who love you; your family and your friends. Take the time to really evaluate your situation, and how it has affected you, your family and the general quality of living surrounding it all.

Cut Off Funding

It could be half to all of your paycheque, a credit card, or maybe you’ve been dipping into your savings. In either case, put a complete halt on any money put towards gambling. Cancelling a credit card is never a good idea, as it worsens your credit situation and lowers your credit score. But in the grand scheme of things, putting a stop to it now rather than racking up another large amount of money is probably for the best.

You Won’t Win Back what you Owe

Statistically speaking, the chances of you winning back what you owe are next to impossible. In fact, you’re only damaging yourself even more by putting yourself further in debt, and deluding yourself into believing something along the lines of “well I’ll win back what I owe, and then some for good measure!”

Seek Treatment

If you find doing your best and trying your hardest toward helping yourself isn’t working at all, you may need to seek a professional. In some cases, your health insurance provider may cover some or all of the treatment necessary to cure the addiction.

Pay Off Your Debt!

When you’ve controlled your addiction, begin focusing on your debt. Recognize this won’t be easy. You’re going to have to work hard, and do everything in your power to get the debt off your back. Write out a list of everyone you owe. You may have overdrafted bank accounts, or past-due credit cards. If you’re in real trouble, you may even owe a bookie or loan shark. In either case, it’s incredibly important to get your debt paid off.

Borrowing money from a loved one or a friend is a huge shot to your ego, even more so that you’ll have to fess up about your addiction and your debt. If they’re willing to help, not only do they trust you and love you enough to help, but they trust and love you enough to support you. Make note of the close friends and family who really help you; if you ever feel the urge to indulge in your former (or current) addiction; talking it out with them might help.

You could also start by selling your valuable assets. While undesirable, it’s even more undesirable to carry a debt on your shoulders, especially a gambling debt. Furniture, electronics, jewellery and even your care can bring in some money to put toward the debt.

Getting a second job could help as well, even short term and part time. Any penny counts when it is as important as a gambling debt.

In the last and extreme case – file for bankruptcy. Gambling debt can be discharged by bankruptcy, though if you incurred the debt under false pretenses, or through fraud, you will not be able to file for bankruptcy.

Gambling Equipment Guide

Gambling is popular amongst the young as well as the old. For many individuals gambling is a source of earning while for others it is a means to perfect entertainment. Today gambling is not just confined to the four walls of a casino. It has made its way to houses by virtue of computers (online gambling) and other gambling equipments. While many people are enticed by online gambling, those who desire to have a real feel of the game get gambling set up at their home only.

The gambling set ups are more or less same for all the games though there are some variations. For instance the tables of different games are different. A poker table is unlike a blackjack one. But some of the common gaming equipments are dice, cards, coins etc.

Dice is perhaps the foremost requirement of any gambling sport. It also can be the cheapest of all gambling equipments. This is because of the myriad variety of dice available today. A plastic dice will be significantly less expensive in comparison to an ivory made dice. In ancient times stones, pebbles, chalks etc. personified dice. Since people were not very particular regarding the equipments of the game, they would mark the holes on any tiny handy nugget and commence their game. Gradually dice came to acquire a proper cubical structure with pierced holes on all the sides. However in comparison to a dice used in household games, a casino dice has more precision. Casino dice is also known as ‘perfect dice’ as it is carved in a way that each side weighs equal after the holes have been pierced on each side. This provides an equal probability of either side being the outcome.

The other essential ingredient of gambling is ‘cards’. Usually cards are exclusive to every casino. This is because the backside of the card bears the logo of the casino. The casino cards are primarily of two types- bridge size and poker wide. Initially cards were made out of hard paper and different paintings were made on them. The suits and faces of contemporary cards are a gift of France.

Casino tables have their own charm. These tables are designed differently for different types of games and are quite expensive. For instance a single poker table can cost its buyer several thousand dollars. But here too prices vary with the quality of the table. The table face has a woolen felt surface with the games name on it. Along with it the odds and the areas for placing bets are also specified. However with the help of blueprints people often make gambling tables on their own. This is the most cost effective way to play the game.