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How to Recover from Gambling and Debt
There are many reasons why people fall into the trap of bad debt and one of them is gambling addiction. Sadly, some may not realize the problem until there is no other solution left but to file for bankruptcy. True enough, what may start out as a hobby can turn into a harmful addiction which can bring great damage physically, emotionally, and financially.
If you find yourself struggling with gambling addiction, what can you do? Consider the following advice on how to get over gambling and bad debt:
Recognize the problem. At first, it may be hard to admit that there is a problem but recognizing the true cause of your bad credit situation is the only way you can work out a solution. Below are questions that you can ask yourself to recognize gambling addiction.
If you answer yes to these questions, you may have a gambling addiction and you should take a positive step quickly before things get worse.
Has gambling become a daily part of your routine?
Do you borrow money just to be able to gamble?
Do you find yourself using your cash on gambling instead of buying necessities or paying an important bill?
Do you get into fights with family members or friends because of your gambling habit?
Have you ever sold anything to support your gambling?
Do you feel like your day isnt complete until you have gambled?
Set your priorities. You need to set straight your priorities. If you have been behind your payments, you need to spend your money on the most important things. Do not use gambling as an excuse to pay your debts with your winnings. No one should depend on gambling to solve a debt problem as doing so can only worsen your bad debt situation.
Seek professional help. Since gambling addiction is a behavioural issue, seeking professional help is recommended. Instead of trying to solve the problem on your own, its best to get assistance from a trusted credit counselor or from organizations that offer rehabilitation help for people with gambling addiction.
Consolidating debts. For extreme cases of debt, acquiring a debt consolidation loan may be recommended. However, keep in mind that taking out a loan to pay your debts is only the first step. In order to completely be free from debts, you must be able to keep up with your repayment obligations to your debt consolidation company.
Your credit counselor may also advise you to enrol in DMP or Debt Management Program where you will submit payments to the agency who will distribute your payments to your creditors. Nevertheless, the success of this arrangement will still depend on how well you can keep up with your payments.
Expect challenges but be determined. Fighting the urge to gamble can prove to be a very challenging task but no matter how difficult it is, be determined to do what it takes to control your addiction. Focus on your job and other beneficial activities to keep your mind off from gambling.
Trends in Casino Gambling – Always Follow the Trend
We all know when you flip a coin the chances of hitting either heads or tails is 50/50, and yet we also realize that this does not mean that once you have flipped “heads” then the next flip has to come “tails.” This is because each flip is independent of previous flips, and previous flips have no bearing on future events. This means that if you manage to flip 100 heads in a row, the chances of the next coin coming heads is still 50/50. Since this is the case, we can look around us and see trends taking place. We don’t know why they happen, or how long they will last. But what we do know for sure is: Trends happen.
If you’ve ever been to a casino then you have surely witnessed a trend take place. Perhaps it was at the craps table with a hot shooter, hitting one point number after the other. Or maybe it was at the roulette table when you saw 10 red numbers in a row. Trends can be a very good thing or a very bad thing depending on what side of the bet you are on. Most professional gamblers will tell you to always look for and follow the trends, never bet against them. That means if you walk up to a roulette table and see that the last 10 numbers were all red, don’t think to yourself: “Oh look, 10 red numbers in a row, black is due soon.” Remember that each even is independent, and instead think to yourself: “Oh look, a trend is taking place, let’s get on and ride this trend out until it dies!”
Most people don’t think this way, and it’s the main reason casinos put up the “Spin History” boards at all their roulette tables. It causes people to bet against the trends instead of with them, and casinos have seen their profits at the roulette tables skyrocket as a result. A hot trend is a casino’s worst nightmare. For this reason try to remember to always try to spot trends and take advantage of them. You can do this by doing what is called “charting” the tables. Instead of jumping right into a game and hoping for the best, chart the tables until you think you’ve spotted a hot trend starting. Also, make sure you have an accurate knowledge of the game you are playing, so that you know the proper bets to make in order to take full advantage of the trend.
Be careful, though. Don’t forget about the most important aspect of gambling: Discipline. Spotting a trend and getting in on it is one thing. Recognizing that a trend has ended and it’s time to get out is quite another. Many people find it extremely hard to walk away from the table while they are ahead, or even behind for that matter. You need to set win goals and loss limits. It is better to walk away from the table with some money than it is to walk away flat broke. Remember to never chase your losses!
Following the trends is one of the things that makes professional gambling possible. Just remember that many other factors are involved when applying this simple concept. Chart the tables in the casino and find your trend. Learn proper betting habits at each particular game so that you are able to take advantage of the trend. Remember to walk away when the trend has ended by practicing discipline and smart money management. Good luck at the tables!