Gambling Online Using Credit Cards
Posted by Tom Wilkins on Fri 17th August 2007 at 06:00 AM, Filed in Credit News
There has long been some scepticism about the wisdom of using credit cards for online gambling. But now a financial expert has spoken out, by warning online gamblers that it’s easy to lose track of expenditure which can result in huge overspend. This makes complete sense.
With the rapid increase in UK online gambling many banks are blaming some of the rising bad debt on gambling addictions fed by the online phenomena. In a reaction to this, many online gambling sites have stopped accepting credit cards. About time to I say.
An expert from Moneyexpert.com, Sean Gardner, is quoted as saying:
“It’s very easy to lose track of the money you owe on your credit card, particularly with online gambling. If you have wracked up debts through gambling the important thing is not to bury your head in the sand. If you can’t meet repayments it’s always better to tell someone or to seek professional help.”
(Via CardGuide)
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