Is gambling ruining your finances? · Credit card

The habit of gambling often starts slowly, to have fun with your friends or to get excited when you are lonely at home. But soon you may spend more than you can afford. Then your cards and overdraft are maxed out.

It’s very tempting to try to pay back enough to clear the debt and pay off your debts. You need money to do this, to get a loan. But you lose more…

Soon the only credit you can get is at a bad interest rate.

You it can be escape from this vicious circle. It won’t be easy, but there are steps to take and ways to get support.

A secret addiction

For many people gambling is addictive and they cannot simply choose to quit. It’s not the same as saying that you were tempted by a takeaway because you were tired of cooking.

The free offer, the flashing lights, the sense of doubt, the hope of a way out – all carefully designed to trigger responses in your mind. Some people are not interested at all, some people can have a few punts and not bet for months or years. But if your brain is wired in a certain way, you can easily get caught.

It is not a question of intelligence or strength… you are not bad, weak or stupid because you have a gambling problem.

And it’s not always easy to tell when a “habit” crosses an “addiction”.

You have to be brutally honest with yourself. It’s so easy to gamble that you can stop but you enjoy it… Try not gambling for a week and see how it goes.

It is often obvious when a friend has an alcohol or drug problem. But many people are very successful at hiding their gambling from family and friends, making it difficult to get help early.

So how do you stop gambling?

Dealing with debt when you still gamble is like trying to put out a fire with a fire extinguisher in one hand, while the other pours fuel on the flames… So even if your debts seem like the most urgent matter, ending gambling should come first.

Here are some ideas that work. Not all will work for you, so go for the ones that feel right first. But if it seems difficult, go back and think about others.

Make it harder to gamble

• Getting yourself out There are different ways to withdraw from betting shops, casinos, arcades and online gambling. For betting shops, you can visit them individually or call the Central Self-Exclusion Team on 0800 294 2060.
  For many people who decide to quit they prove to themselves that they CAN do this. It can also get you off the mailing list so you won’t have to ignore enticing offers every day for the next decade.
• It blocks the software If online gambling is your weakness, get blocking software for your PC, tablet and phone. It works! You can get a free license for Gamban blocking software. This works better than Gamstop which does not block external sites.

Get help and support

• For advice on how to stop gambling, call the National Gambling HelpLine on 0808 8020 133 – that number is open 24/7. Gamcare also offers support via WhatsApp and Facebook messenger, has a webchat facility and can offer advice if you want.
• Many people get the best support from other people who are addicts themselves. GamCare has forums and chat rooms where you can be anonymous. Gamblers Anonymous organizes different types of meetings where people with gambling problems can support each other.
• Telling your partner, relative or friend can be very difficult, but letting go of secrets and lies can be a relief, and you may get some much-needed encouragement.
• Consider how changes in your lifestyle can make it easier to resist the urge to gamble. This can vary from simple – take different routes so you don’t go to betting shops – to finding new hobbies to pass the time in the evening.

Reduce the amount you can gamble with

• Most banks will now allow you to block payments to gambling sites from your bank card. See the latest Gamcare listings.
• If you have any credit cards that haven’t reached their limit, move them to digital wallets like Apple Wallet and Google Pay. consider giving them to your partner or friend to manage. Or cut them off. Or put them in the fridge in a place with water.
• Try to move as many bills as possible to be paid by direct debit or stand order, or as soon as possible, on your payday so that this money is not stolen.
• If you have a partner, ask him to manage paying all important bills and set up a transfer of money to his account on your payday. Change any joint benefits that will be paid into your partner’s account.
• Get all your benefits or wages paid into your partner’s account, who then gives you a pocket of money each week. At your bank or in cash.
  Extreme? Yes, but this may not only reduce gambling expenses, it may go a long way in rebuilding trust with your partner.
• Sign up for Cifas security registration. This is for people with identity fraud issues, but it can help here by making it take longer to apply for more credit. When you apply for a loan, you are contacted to ask if you have applied. If you might be trying to take out a payday loan in the middle of the night, this delay of a few days may be all you need to resist the temptation. It doesn’t hurt your credit score.

Read the story of one man

Here is the story of a man who became addicted to internet slots and how he finally overcame his addiction.

It wasn’t easy. He used blockers and needed a lot of support from his wife, who ended up giving her full control over his money.

Prioritize your money problems

Address the scale of the problem

You need to be honest with yourself – and your partner if you have one – about the damage done to your finances.

This means a list of all your debts, including any you might not think are a problem, and any debts that are overdue. List the size of the bills and the amounts due this month.

And a list of all important household bills.

Then decide if you have enough money to pay them this month if you don’t spend any more money on gambling. If you do, that’s your plan. Read about “snowballing” to find ways to help this go faster, but in the beginning your main priority is not to gamble and get used to this.

Prioritize if money is not available

If you don’t have enough money to pay them all every month, read Which debts and liabilities come first? If you have other important debts these need to be paid in full, even if this means paying nothing on your other debts. If you can’t pay important debts in full, get help quickly, see below.

Non-essential debts can be offered at a low price, even a token payment of £1. Tell your creditors that you are trying to fix your finances because you have a gambling problem and ask them to accept this small payment for a few months until your significant debts are paid off. It can be scary to tell a creditor or debt collector that you have a gambling problem, but many now realize that this is an addiction that means you need more help from them.

If you have significant debts that you cannot pay, many debtors, it will take you more than a few months to fix your debts, or you want professional help to talk to creditors, read Where to get help and advice that looks at your options depending on the types of debts you have, where you live and whether you can choose help by phone or talking to someone face to face.

Whoever you talk to, tell them about your gambling problem and what you are doing to try to stop it. All of the credit counseling services I’ve listed are confidential and non-judgmental, but they can’t help properly unless they know the full picture.

Often the best way is to freeze your non-essential debts until it is clear that you are winning the battle to stop gambling.

Feeling angry at your creditors?

A common reaction when people see the full situation they are in is to blame their creditors for allowing you to borrow so much money. Sometimes this is a good point!

You may have asked for a refund of the interest you paid if the lender should have known you had serious problems but continued to borrow. See these articles:

Don’t worry that your appeal will be rejected because you gambled. The lender may say No, but take the complaint to the Financial Ombudsman, see how gambling affects your affordable repayments with detailed examples.

But this will not help at first. In six months, when you feel strong, you can think about any complaints. They are not fast – many of them need to go to the Ombudsman which can take a long time, so they don’t solve your problems quickly.

Your best bet is to kick the gambling habit and stabilize your finances so you don’t need to borrow money every month.