1 pointI have done this exercise using bank statements over a seven year period when I was really bad and I mean really bad. It was the shock and awe I needed to rein it all in at the time. I added up all deposits to online companies and all cash withdrawals over £100 as I was certain most of them were gambling related. I also added up all the returns and unexplained cash deposits into accounts as they would most certainly have come from cash gambling. Anyway the total deposits versus withdrawals left me with a deficit well into 5 figures... closer to six figures than four. Is it any wonder I was at the front of the que to sign up to Gamstop? FOBT are just the top of the iceberg, it’s the online that will decimate you.
1 pointCredit card or indeed credit betting accounts are a horrific concept. You should never borrow money to gamble it’s the route to the poor house. My dear old Nana called credit cards simply “posh tick”..... Read a credit agreement issued by a bank and you’ll probably find using the borrowed money for “speculative” purposes is in fact a breach of that contract. Debit Card betting is fine as it’s your own money your using unless you’re rattling the overdraft. Its a mine field but for my NEVER EVER BORROW MONEY TO GAMBLE! Trust me, been there, done that, felt the pain it brings.
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