Are You Good At KINDS ONLINE GAMBLING? Here’s A Quick Quiz To Find Out
One thing there is absolutely no shortage of on the net 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 things that makes internet gambling so potentially dangerous is that it’s easily available for 24 hours a day.
The real danger comes when you combine this factor with the fact that it is very easy to feel detached from the truth of money spent online. Gradually racking up a debt online will not feel the same as handing over hard earned cash from our wallet, so it is that much easier to reduce track of how your online spending is mounting up.
Therefore, debt problems from internet gambling are on the increase. In this article I hope to clarify some of the legal issues around online gambling, in addition to providing some advice on dealing with the underlying problem and the debts that result from it.
LEGALITIES Around Gambling Debts
When we talk about debt from online gambling it is important to be clear about the nature of your debt, because who the money is owed to does make a difference. People are often unsure about the legality of debts from online gambling. In the UK you can gamble legally on credit and incur a debt, but this debt is not then enforceable through regulations.
However, there is an important point to make here, that is that this only applies if you are using credit extended by the company offering the gambling (casino, bookie, etc). If you are using a credit card company to cover internet gambling, that is clearly a legally enforceable debt the same as it would be in any other circumstance, as you have borrowed money from the charge card company, not the casino. It is now against the law in america to use a charge card to cover 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 issuer and the debt you incur could be pursued through legal action. Should you choose use a credit card to pay for 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 Deal With Debts Caused By Gambling
In dealing with gambling debts, there are two separate issues to tackle. One is the debt itself, and the other is the habit of gambling that led to the debt. Even if your debt is dealt with, it is likely to develop again if the root cause is not tackled too. Let us first consider the issue of paying off the debt.
토토사이트 for tackling debt are often the same, irrespective of the causes of the debt. To permanently cope with debt you should not be considering borrowing more money or paying anyone to cope with your debt for you personally. These courses of action will probably deepen your debt in the long run.
With a little advice, it is possible to deal with your financial situation yourself, by contacting your creditors and agreeing terms for repayment you can afford. There’s clearly more to it than that, nonetheless it is beyond the scope of this particular article. The process is easy and allows you to take back control of your finances.