Can Short Term Loans Work As Gambling Debt Loans?
Online gambling and casinos use third-party "data harvesters" to actively target people on low incomes and people who have stopped gambling. An article published in the Guardian newspaper last summer revealed "lower income segments" were among the "most successfully targeted".
This demographic is more likely to bet again to win back what they have lost – therefore, online alternative lending has also seen an increase in customers who are suffering with problem gambling, using short term financial solutions as gambling debt loans.
Using short-term loans to fund a gambling addiction can only end badly, forcing the customer into more debt and to act more desperately, chasing the big win to get all their money back – but this rarely happens.
Safer Gambling
The main thing to think about when gambling is to set yourself limits and stick to them. For some people, this isn't a problem, but if you find yourself struggling to do this, there are other things you can try.
Following tips are to help budget while you gambling.
- Consider how much cash you are taking with you. Leave your debit card at home and only take what you are willing to lose.
- When gambling online set limits on your accounts
- Try not to have more than one online betting account as it makes it much more difficult to monitor what you are spending.
- Set a time limit – even if setting an alarm reminds you to quit when you're winning.
Sometimes, especially with online gambling, it can be surprising how the bets can add up.
If you are really in need of quick cash for personal expenses, make an online application with My Cash Online today.
