The Facts About Online Gambling and Propensity For Addiction

I just did some research on online gambling and the same theme kept repeating itself over and over. I am not going to site any statistics because I believe that many statistics can be wrong if not cited from a well conducted study.

What I did learn, however, is the following:

1.Online gambling is illegal in the U.S and is run be offshore casinos that move from location to location. These are remote locations which are operating illegally in many instances.

2. Moving from location to location creates absolutely no accountability or credibility by these offshore casinos. There are no legal controls on the games that are played by unsuspecting internet users throughout the world. The money lost to these unscrupulous casinos is in the millions.

3. Online gambling addiction has been increasing every year, and the individuals playing in online casinos are getting younger and younger by the year. Individuals playing in online casinos are underage as well, and can become addicted to online gambling at a very young age. This does not bode well for their future, as it is much harder to stop an addiction when a person starts at such a young age.

4. The addictive nature and availability of online gambling makes this form of gambling one of the most dangerous. Because a gambler can play casino games right from his or her computer, there is access to gambling 24 hours a day. The implications of this scenario are very disturbing indeed.

5. Internet gambling addiction is very fast moving, and therefore the losses can happen very fast. i Internet gambling addiction is also progresses very fast because of the fast action.

Gambling Merchant Accounts – 10 Points to Ponder

Choosing a gambling merchant account, much like choosing any other merchant account or online payment gateway, requires a good deal of thought and consideration, as the main purpose of an Internet payment gateway is to ensure the safe and secure transaction of funds between an online service provider and a client.

There are a multitude of merchant accounts to be found on the Internet today, with some of them choosing to handle transactions for specific online businesses, while others choose to handle all forms of online businesses that require a payment gateway. Certain forms of businesses have been classified as “high risk”, primarily because of some aspect of the business.

A high risk merchant account is usually defined by factors such as type of industry, credit history, processing history, average ticket, monthly processing volume, and location of business.

Businesses that are considered high risk include adult content, pharmaceuticals, gambling, magazine subscriptions, streaming or downloadable content, dating services, travel and travel related services.

Here are some pointers to consider when looking for a viable gambling merchant account provider:

1. Make sure to do a market research. Talk to someone who has spent years in the business, you can learn a lot of important things from them.

2. Be sure to check the big numbers, cancellation fees, and most importantly, the hidden fees up front. A merchant account provider who really wants to do business with you will at least try to work with you to adapt to your capabilities.

3. Be sure to compare the different discount rates offered by the various payment processors. There will always be a merchant account provider offering good services online with a much better rate than others.

4. Be careful about advertisements that can be misleading or appear suspicious. If they lie on their ads then most likely they will do the same to you.

5. Verify the integrity of the company. Do a background check and see if the company is known for good business practices and if they have transacted with companies like yours.

6. Do not make a habit of signing a contract too hastily. Read the application carefully because some contracts carry a non-cancellation clause or penalty. If a company will not leave an application with you overnight, they are probably trying to use “high pressure” tactics so that you don’t have time to really know what you are signing.

7. Find out what people are saying about the merchant account provider and see which provider has the best reputation. Oftentimes the best form of marketing is by word of mouth, as these connote first hand experience and not just hearsay.

8. In choosing a credit card payment processor, check out the fees and services. Compare which one will work best for your business.

9. Check out how and when will you get the payment. Some merchant account providers have a minimum amount before they send you the payment. Others may charge you with wire transfer fees.

10. Avoid companies with high monthly fees. These providers will drain you of your resources. Many of these companies rely on those monthly fees to compensate their marketing and sales efforts.

Online Gambling Debts – How to Deal With the Causes and Effects of Online Gambling Debts

One thing there is no shortage of on the internet is opportunities to gamble. We are 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 is easily available for 24 hours a day. The real danger comes when you combine this factor with the fact that it is so easy to feel detached from the reality of money spent online. Gradually racking up a debt online does not feel the same as handing over hard earned cash from our wallet, so it is that much easier to lose track of how your online spending is mounting up.

For these reasons, debt problems from internet gambling are on the increase. In this article I hope to clarify some of the legal issues around online gambling, as well as providing some advice on dealing with the underlying problem and the debts that result from it.

Legal Issues Around Gambling Debts

When we talk about debt from online gambling it is important to be clear about the nature of the 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 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 use a credit card company to pay for internet gambling, that is a legally enforceable debt the same as it would be in any other circumstance, because you have borrowed money from the credit card company, not the casino. It is now against the law in the US to use a credit card to pay for online gambling.

You will find that many credit 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 can be pursued through legal action. If you do use a credit card to pay for online gambling this way, you should be aware that cash advances on credit cards are almost always charged at a much higher rate of 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 the debt is dealt with, it is likely to build up again if the root cause is not tackled too. Let us first consider the problem of paying off the debt.

The principles for tackling debt are nearly always the same, irrespective of the causes of the debt. To permanently deal with debt you should not be considering borrowing more money or paying anyone to deal with your debt for you. These courses of action are likely to deepen your debt in the long run.

With a little advice, you can deal with your debts yourself, by contacting your creditors and agreeing terms for repayment that you can afford. There is clearly more to it than that, but it is beyond the scope of this particular article. The process is straightforward and allows you to take back control of your finances.

Factors Leading To Internet Gambling Debts

It may help to have an understanding of why some people can become addicted to online gambling. The following are often contributory factors:

Gambling can be thrilling, leading to an adrenalin rush and feelings that we want to recreate time and again.

Many addictive gamblers think that they can win money and that this will solve all their other problems. It actually just leads to more problems by creating debt, which can then make it seem even more important to win the money, creating a vicious circle.

Addiction to gambling can actually be a mental disorder, which can lead to a compulsive need to gamble.

Being addicted to online gambling is often associated with other personal difficulties, including depression and stress.

Online Gambling Debts – The Warning Signs You may have a problem if you can answer yes to any of the following questions:

When you are not gambling, do you think about gambling and how you are going to get back to it?

Have you ever missed work because of online gambling?

Do you feel the need to gamble again after winning or losing?

Is the length of time you spend on gambling getting longer and have you ever spent longer online than you thought you had?

Are you secretive about your gambling with family or friends and do you dislike other people bringing it up?

Practical Steps To Tackle Online Gambling Addiction If you think you may have a problem with online gambling, here are a few simple steps you can take to begin to reduce or stop the habit:

Be open with friends and family and seek help with the problem.

Cancel any accounts you have with websites for online gambling.

Consider using software that blocks your access to online gambling websites.

Keep a proper, ongoing record of everything you spend – take steps to bring home the fact that the money you are using is real.