Online Gambling: A Growing Addiction

Drawn in by the popularity of poker, half of all men in college are gambling on an monthly basis — even though betting on sports is illegal everywhere in the U.S. “It’s American, like apple pie. He credits a 12-step program to helping him overcome his problem, and he has not gambled in almost four years.

Three and a half years ago, Erickson accrued $400,000 in gambling debts. The college bowl games this weekend lead to the NFL playoffs and the Super Bowl. I got myself into this. That will always be there. Desperate, he began stealing from his clients. Then, it’s March Madness, where many participate in an office betting pool.

The problem is affecting younger people as well. except Nevada.

“I became this person I didn’t know,” he said. People love to bet on their football games.”

If you or your loved ones has a gambling problem, help can be found at the National Council on Problem Gambling.

After 23 days on the run, Erickson turned himself in. Win or lose, it didn’t matter to me, it just set me up to bet again.”

. There are an estimated 6 million people who deal with the problem in the United States. People love to bet on it. And when they caught on, he left his family and fled.

“I think it’s a devastating illness, it’s an illness that if it’s not treated, it will end up that the person’s whole lifestyle will be affected,” said Ed Looney, executive director of Council on Compulsive Gambling of New Jersey.

But soon, it spiraled out of control.

It is now high season for sports betting. “The miracles I’ve experienced. By some estimates, $7 billion is wagered on the Super Bowl alone in casinos, online and with bookies.

‘A Devastating Illness’

Erickson is a compulsive gambler, a condition just as dangerous and debilitating as drug or alcohol addiction. The lining up the money, the handicapping of the game, the betting of the game, the watching of the game. I got to get myself out of it.

The situation became so dire, that Erickson contemplated killing himself. He considered going to Mexico and if he couldn’t kill himself there, he’d pay someone else to do it, he said.

“Life is great,” Erickson said. Mark Erickson always craved a piece of the action — so the accountant from Phoenix started betting on sports over the Internet.

Nevertheless, the industry rakes in mind-boggling amounts of cash. “It becomes an all-consuming activity. The sharing of experiences with friends, family, like I’ve never seen before. These are things that I avoided my whole life, not choosing to be a part of, but today I cherish them.”

“I’ve heard other people compare it to a cocaine addiction, the high you get from that, and that’s the euphoria I felt,” he said. As gambling on the Internet becomes more popular and more sites crop up, those numbers are expected to increase.

“Sports betting is the rock of Gibraltar,” Looney said. He served a year in prison and now works for a compulsive gambling helpline. “But I thought this must be what I have to do

Cybergambling returns — and this time it’s legal

H2 said the industry was worth $33 billion in 2013, with $4.5 billion coming from mobile gambling on iPads, iPhones and smartphones.

“In sports gambling, it’s about the bet,” DeGaris said. will generate – in addition to tax revenue from the proceeds at casinos – approximately 22,000 new online gambling-related jobs, Freeman testified.

“It’ll be interesting to see how this plays out,” said Laurence DeGaris, associate professor of marketing at the University of Indianapolis and an expert in Internet culture.

“Prohibition simply does not work,” Geoff Freeman told a House panel on Dec. market could be worth as much as $9 billion in the coming years as other states, including California, legalize online wagering.

“Slots and roulette are very visceral games, lots of bells and whistles. Gov. That doesn’t translate online,” DeGaris told FoxNews.com. “If we are unable to determine that you are in New Jersey, you will be unable to play on Virgin Casino,” the site notes. Chris Christie validated the vice in the waning weeks of 2013, saying he hoped to rake in $1 billion in casino revenues this year, of which the state will collect a 17 percent tax.

Globally, the business is even more lucrative. But new laws across the nation are rolling the rules back — and lawmakers think they’re holding a royal flush.

Mega-entrepreneur Richard Branson’s Virgin Group is the latest entry in online gambling, teaming with the Tropicana Resort in Atlantic City and online game maker Gamesys to bring online poker, blackjack and slots to New Jersey this week. Others predict the overall U.S. “Blackjack and poker have a very human element that’s lost online. 10.

- Geoff Freeman, president and CEO of the American Gaming Association

Prohibition failed – again

Last month, the president and CEO of the American Gaming Association testified before Congress and urged legislators to repeal their 7-year-old ban on Internet gambling.

“Last year, before a single state authorized legal online gaming, Americans spent nearly $3 billion on illegal, unregulated offshore gaming sites. They play against the house at Virgin Casino, and they can finance their wagers with debit cards, credit cards, or in person.

To prevent unauthorized access, Virgin Casino physically locates gamers’ cellphones periodically. U.K. will catch up to the rest of the world and allow it at some point.”

Players must be at least 21 years old, and either reside in New Jersey or be in the state when they place their bets. — notably sports betting.

Congress banned online gambling in 2006. If your phone is off, or if you’re too near state borders, you may not be allowed to play.

“There will be many games to play online in New Jersey,” Fenton told FoxNews.com. “Blackjack, slots. Not just poker.”

. “The federal government has tried the prohibition approach – specifically the Unlawful Internet Gambling Enforcement Act of 2006 and the Wire Act – and through multiple Justice Department crackdowns on offshore operators as well.”

Many Americans simply ignored the ban, he noted, as the country did during Prohibition in the ’20s.

But analysts are mostly rolling with Christie and the casinos. Virgin could be holding a full house, but it could also fail before the flop.

And New Jersey isn’t alone; eight other states have bills in the works that will allow Internet gambling as well. “The technology is rolling out this week.”

What happens online, stays online

Six other firms, including popular companies like WSOP.com and Ultimate Poker and other casinos like Caesars and the Golden Nugget, participated in the “soft play” launch of online gambling in New Jersey in November, the state’s Department of Gaming Enforcement Director Dave Rebuck said during a recent conference call.

Not everyone agrees with the odds. “That’s where I see the huge potential in online gambling, and I reckon the U.S. In online casino gambling, it’s about the game more than the bet.”

‘Last year, before a single state authorized legal online gaming, Americans spent nearly $3 billion.’

“Those from other states can play, but they cannot wager,” Fenton said. market research firm H2 Gambling Capital, which focuses on the gaming industry, predicted about $300 million for New Jersey’s online casinos — or about $45 million in tax revenue, according to the New York Times. Nevada and Delaware also began offering some online gambling last year, but New Jersey is the first state to “fully” legalize it, said Lee Fenton, the chief operating officer of Gamesys.

Freeman said the Department of Justice has relaxed its views toward online gambling since 2011, and this could open up even more opportunities in the U.S. To put that into further context, Americans accounted for nearly 10 percent of the entire $33 billion worldwide online gaming market,” Freeman said.

Legalizing gambling across the U.S

Where to Turn When Gambling Debt Gets Out of Hand

In this case, a number of resources exist to help you handle your gambling debt:

Professional Help for Gambling Debt

This should be the very last resort. Once you overcome your compulsive gambling, you will be better prepared to take control of your finances. From there, you make one payment each month.

Support group

Credit Counseling

There are many gambling support groups, including Gamblers Anonymous and Recoveries Anonymous.

Learn how Bankruptcy Trustee can help you today with filing bankruptcy in Calgary. In addition, support groups can also guide you to reputable outside sources, including debt consolidation or debt counseling companies, which can also help you with your financial planning.

Regardless of where you turn to help you with your gambling debt, whether you opt to manage it yourself or go to a professional organization for assistance, it’s important to get help for the root cause of the problem–the gambling itself.

It’s also important to note that some gamblers incur gambling debts from disreputable lenders or loan sharks.

Debt consolidation

Credit counseling organizations, such as Credit Counseling Canada, work with people who are in debt to help educate them in paying down their debts and managing their finances. When you file bankruptcy, you agree to give up the majority of your assets to a trustee assigned to your case, who is turn sells them to settle your gambling debts. This is different from a debt consolidation loan because the debt consolidation company does not loan you money.  It’s important to weigh the pros and cons of debt consolidation before opting for it. Most Medicine Hat bankruptcy lawyers will provide free consultations and let you know whether or not bankruptcy is a good option for you or not.

Debt consolidation is a way to combine your debt into one monthly payment as opposed to multiple payments each month. Often, under-the-table lending is not covered under bankruptcy laws and is frequently coupled with very high interest rates. With this method, you take out one loan, which is used to pay off your debts. If you opt for credit counseling, make sure you go with an organization that is accredited and non-for-profit. Not only do these groups help support their members through gambling recovery, but they also provide counseling and tips for getting debt under control. Steer clear of any organization that requires large fees or asks you to make your debt payments to them. While you don’t lose everything in a bankruptcy, you could potentially lose your home (or at least a significant portion of the equity), your vehicles, and other possessions, depending on the Province in which you reside.

About Krista McDonald

Bankruptcy

If you are experiencing a number of financial warning signs, or if you no longer have money left over each month to pay the bills, your debt may truly be out of hand. . They then arrange for you to pay them one monthly payment and distribute it to your debtors accordingly. If you are threatened by a loan shark or other lender or otherwise feel harassed, it’s important to call the police. Stop by Bromwich & Smith, Inc.’s site where you can explore their educational resources.

A debt consolidation company can also work on your behalf to negotiate lower rates with creditors or to freeze interest rates