Wagering Debt Is Gambling With Debt

No matter which way you look at debt, it is still debt. However, unlike the more conventional impression of debt being something that happened as a result of home PG Slot mortgage, car payment or credit card usage, wagering debt is unique. The number one difference here is the attraction to continue wagering, hoping heading to the big one and then pay off all that debt accumulated due to wagering in the first place. The fact is, the odds are definitely stacked against anyone accomplishing this goal.

In a similar way, those who continually run up credit card debt buying clothes, furniture and other electronic gadgets will never find themselves out of debt. If there is any hope of them one day getting out of debt, the first thing they need to do is stop over-spending. In like manner, this is just what the gambler must also do. They must stop wagering in order to truly solve their debt problem.

Unfortunately, unlike those who spend money in order to have things, the gambler talks about their wagering in a different light. If they have lost money gambling on horses or at the casino, they will think that their luck is about to change. All they need is that one big jackpot and they will then be living on easy street. They will get themselves that all their efforts to win are about to pay off, so continue to go deeper into debt wagering.

As is often the case, the individual begins their wagering problem in a small way. It usually starts with buying lotto tickets, playing bingo or placing gamble with co-workers on their favorite sports team. Even though they lose more often than they win, the euphoria that overtakes them whenever they do win compels them to up the pegs in their wagering adventure. They soon begin visiting the race track, gambling on horses or dogs, or they make the trip to the local casino for a little slot machine fun. The bottom line here: linked with emotions . lose more than they win back and the debt begins to grow.

Even though they fully recognize the debt they are getting themselves into, they still believe they will one day win the big benefit and will be able to get out of the debt mess they are currently in.

Another aspect of this dilemma is purely psychological. Because no one wants to feel stupid or made a fool of by others because of their predisposition to waste money wagering, they will excuse their actions by making themselves believe that they will beat the odds and sooner or later hitting the big win will have made it all worthwhile.

The wagering industry doesn’t make it any easier with mottos such as “Lotto does good things” and “If you are not in it, you can’t win it”. It can make the continuous gambler think that, even if they continue to lose, at least they are ‘contributing’ to a good cause that benefits the community.

Even though this all makes sense, in the heart of the gambler they know they have a problem. They know that the casinos and other forms of wagering wouldn’t be in business very long if they lost more money than they won. The odds are clearly in favor of the wagering industry and the gambler naturally knows this.

However, one of the cruelest things to happen to any gambler is to see the occasional big winner. That is often enough to keep them playing the game, hoping that they will are the next big winner. In fact, the very small numbers of instant millionaire jackpot winners are simply just being used by the wagering industry to keep the rest of the gamblers going for broke.

The reality is this: in order to get out of wagering debt, the gambler must forsake one dream for another dream. Instead of daydreaming about hitting the big jackpot and finding yourself on easy street, the gambler needs to come to in conclusion that the it’s likely clearly stacked against him, and this will never happen.

Accept that you are not going to realize a benefit from all the wagering. Admit to yourself that, even if you did win something, you will always lose it back in an attempt to win even more. The bottom line is, as long as you believe you can see a benefit from wagering, you will never stop.

Commence to educate yourself by reading books that reveal the true statistics of the game to understand that no one can truly beat the casinos in the long run. You could even research the lives of those that have hit the lotto and see how their lives have proved. You will soon discover that most of them are miserable, often suffering from depression, divorce, drugs or alcohol, not able to properly manage their unexpected riches, soon can be found less well off in the past, their self esteem gone as well.

The next phase is to cease wagering in all its forms. It may require you to request being banned from casinos and race tracks. You will also benefit by canceling any accounts with a bookie or other sources of wagering. It will also mean you have to stop gambling with friends and co-workers on potential outcomes of sports matches. You will even need to stop purchasing that occasional lottery ticket, even when it is at a new record amount.

By doing so, you can now use that money which you were paying for wagering to start getting out of debt. Instead of thinking that you can buck the system by winning the jackpot and then consolidating your debts, take that mindset and apply it towards really winning the big one by consolidating your debts the right way. When you are ready to get out of debt through hard work and discipline, only then will you truly are the winner!

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