No matter which way you look at debt, it is still debt. However, unlike the more conventional impression of debt being something that happened as a result of mortgage loan, car payment or pos4d credit card usage, gambling debt is unique. The number one difference here is the temptation to continue gambling, hoping hit the big one and then pay off all that debt accumulated due to gambling in the first place. The fact is, the odds are definitely stacked against anyone accomplishing this goal.
In a similar way, those who continually run up credit card debt buying clothes, furniture and other electronic gadgets will never find themselves out of debt. If there is any hope of them one day having to leave debt, the first thing they need to do is stop over-spending. In like manner, precisely what the gambler must also do. The doctor has to stop gambling in order to truly solve their debt problem.
Unfortunately, unlike those who spend some money in order to have things, the gambler talks about their gambling in a different light. If they have lost money betting on horses or at the casino, they will think that their luck is about to change. All they need is that one big jackpot and they’ll then be living on easy street. They will get themselves that all their efforts to win are about to pay off, so continue to go deeper into debt gambling.
As is often the case, the individual begins their gambling problem in a small way. It usually starts with buying lotto tickets, playing bingo or placing bets with co-workers on their favorite sports team. Even though they lose more often than they win, the euphoria that overtakes them every time they do win compels them to in the stakes in their gambling adventure. They soon begin visiting the race track, betting on horses or dogs, or they make the trip to the local casino for a little slot machine game fun. The bottom line here: they begin to lose more than they win back and the debt begins to grow.
Even though they fully recognize the debt they are getting themselves into, they still believe they will one day win the big payoff and will be able to get out of the debt mess they are currently in.
Another area of this dilemma is purely psychological. Because no one wants to feel stupid or made a fool of by others for their predisposition to waste money gambling, they will excuse their actions by making themselves believe that they’re going to beat the odds and sooner or later hitting the big win will have made it all worthwhile.
The gambling industry doesn’t make it any easier with mottos such as “Lotto does good things” and “If you are not in it, you can’t win it”. It can make the continuous gambler think that, even if they continue to lose, at least they are ‘contributing’ to a good cause that benefits the city.
Even though this all makes sense, in the heart of the gambler they know they have a problem. They know that the casinos and other forms of gambling wouldn’t be in business for an extended time if they lost more money than they won. The odds are clearly in favor of the gambling industry and the gambler naturally knows this.
However, one of the cruelest things to happen to any gambler is to see the occasional big winner. That is often enough to keep them playing the game, hoping that they’re going to become the next big winner. In truth, the very small amounts of instant millionaire jackpot winners are simply being used by the gambling industry to keep all of those other bettors going for broke.
The reality is this: in order to get out of gambling debt, the gambler must forsake one dream for another dream. Instead of dreaming about hitting the big jackpot and finding yourself on easy street, the gambler needs to come to in conclusion that the odds are clearly stacked against him, and this will never happen.
Accept that you will never realize a profit from all the gambling. Admit to yourself that, even if you did win something, you will always lose it back so that they can win even more. The bottom line is, as long as you believe you can see a profit from gambling, you will not stop.
Begin to become knowledgeable by reading books that reveal the truth statistics of the game to understand that no one can truly beat the casinos in the long run. You could even research the lives of those that have hit the lotto and see how their lives have proved. You will soon discover that most of them are miserable, often suffering from depression, divorce, drugs or alcohol, not able to properly manage their unexpected wealth, soon can be found less well off in the past, their self esteem gone as well.
The next phase is to cease gambling in all its forms. It may need you to request being banned from casinos and race tracks. You will also benefit by canceling any accounts with a bookie or other sources of gambling. It will likewise mean that you must stop betting with friends and co-workers on potential outcomes of sports matches. You will even need to stop purchasing that occasional lottery ticket, even when it is at a new record amount.