Life Events Guides - Gambling

In 1994, the American Medical Association declared that gambling has the potential to develop into a compulsive behavior. For the many families who deal with compulsive gambling every day, the official resolution served only to validate what they had known all along – gambling is a serious disease.

The number of gamblers in the U.S. is estimated at 80 percent, and for most, it is an occasional activity that never results in serious problems. For others, however, it becomes an irresistible compulsion that destroys families, financially and emotionally.

According to the National Council of Problem Gambling (NCPG), the compulsive gambler typically follows a three-phase progression.

Winning Phase
This phase occurs when the gambler experiences a big win, which in turn boosts self-esteem. The result is an increase in the frequency of the gambling and the amount wagered. Unreasonable optimism develops as the gambler fantasizes about winning.

Losing Phase
This phase occurs when the luck starts to run out and the gambler begins losing money. During this period, thoughts turn exclusively to gambling and winning. Relationships become strained as the gambler gradually loses control. They begin covering up their gambling and start borrowing money from friends, family, and credit cards.

Desperation Phase
By this time, the gambler can no longer pay debts and starts looking for quick fixes, both legal and illegal. An obsession with making up for past losses develops. Time spent on gambling is affecting work and family, and there are usually feelings of remorse and hopelessness. Loss of personal and business reputation is accompanied by depression and sometimes thoughts of suicide.

One of the most serious measurable problems caused by gambling is debt. Of the people who contact the NCPG, approximately four out of five report that their debts were a contributing reason for seeking help.

The first and most important hurdle for a compulsive gambler is to deal with the gambling addiction. The NCPG's nation-wide, toll-free number is (800) 522-4700, and they will refer anyone seeking help to a support organization. As with any compulsive behavior, it takes some effort to beat an addiction to gambling, and it all starts with the initial phone call.

At the same time, the individual will have to address the debt problem. Typically, a large portion of the debt comes from cash advances on credit cards, usually at high interest rates. Eliminating debt is where AAA Fair Credit Foundation comes in. We have counselors trained to intervene with creditors and guide clients through a manageable, effective debt management repayment program.

Even before you can start to get a handle on the gambling problem, you have to be able to recognize the symptoms of this hidden disease. Included among the recognizable symptoms are lost time from work. Compulsive gamblers take long lunches and leave work early to go to a gambling or off-track betting location. This is usually accompanied by a significant loss of productivity.

Another key symptom is frequent borrowing. At any point in time, most compulsive gamblers can be found in the midst of a losing streak, so they are in constant need of cash. He or she will often pawn personal items for extra cash, and even borrow from loan sharks.

If you see these signs in yourself or a member of your family, we recommend contacting the NCPG and seeking help to eliminate the gambling problem. Then contact AAA Fair Credit, and we'll provide the counseling you need to eliminate those outstanding debts.