Last updated: 03/29/2019
Author: Addictions.com Medical Review
Reading Time: 3minutes
Gambling addiction is officially a compulsive or behavioral addiction. Gambling is when someone bets something, usually money, in order to have a chance at winning more money. People bet on a lot of things including cards, horse racing, sports, and dog races. Although the main focus on gambling addiction is the financial ruin, gambling addiction often has severe negative consequences to the families of the addict as well.
Gambling can affect anyone and can quickly become out of control. If you have any concerns that gambling is affecting your finances, or that of a family member or friend, we can help with our range of tools and tips. There are multiple factors that can affect a mortgage application, some of which you may not have considered previously. One of the first things a lender will look at is your credit score. Again, this can be affected by various circumstances, but you may not have considered that a leisurely gambling habit could have its own consequences. 1) Gambling habits Bank statements detailing payments to bookies can instantly stop an application in its tracks, brokers warned – even when the borrower is an otherwise perfect candidate. Malcolm Davidson, managing director at mortgage broker UK Moneyman, told us of a case in which one of his clients had a perfect credit history, but a. Anyone who gets caught up in the downward spiral of problem gambling finds only too soon that the negative impact on his or her life can be devastating. Finding money to gamble is usually the most immediate and obvious issue which brings with it enough problems, but in addition an all consuming compulsion to gamble at any cost leads to difficulties which affect employment, quality of life. I was just wondering about how regular gambling activity affects a mortgage application? Presumably not good. Over the course of a month I may have 10-15 transactions to online gambling sites like SkyBet or PaddyPower totalling £100-£160. My take home pay is around £2,200 - £2,300.
FinanciaforRuin in Families
Financial problems due to gambling can lead to the breakdown of families.
Financial problems due to gambling can lead to the breakdown of families.
The significant other and the children of a gambling addict suffer the negative consequences of the gamblers actions. They wind up in debt, unable to pay bills, and very often homeless because of the gamblers addiction. Many families break up over debts, bills, and fight over money. Gambling addiction just makes this worse. In the case of gambling addiction, the gambler will bet money that the family does not have to spend such as the money for rent, mortgage, or other bills. Poker run 2019 tennessee.
Loss of Trust within Families
Gamblers will often lie about their gambling habits. It is only a matter of time before the family finds out where all of the money is going and recognizes the lies for what they are. These lies destroy the families trust in the gambler.
People with a gambling addiction may also get bad enough to steal from family and friends. Theft is one of the worst things that people can do to each other. It includes a complete loss of trust because of the deception and the actual theft.
Gambling Addiction Coincides with Other Addictions
People who have a gambling addiction often have other addictions as well. Alcohol addiction and gambling go hand in hand. Just as drinking establishments and gambling establishments go together gambling addiction and alcohol addiction do as well.
Abuse and Neglect
As tensions about money mount, someone with a gambling addiction has the possibility of becoming abusive. The anger that can be associated with financial loss and instability can turn to violence very quickly.
People who gamble excessively also often neglect their family, especially their children. This neglect is often to stay at gambling establishments or to find money to gamble more. The more time a parent spends away from their children to gamble the more neglectful they become. There is also the possibility of financial neglect.
People with a gambling addiction often neglect their parental responsibilities. They do not pay bills or purchase food in favor of spending their money gambling. When all of the money goes to pay back bets there is no money left for the necessities.
Does Gambling Affect Mortgage Application Uk
Gambling addiction is a treatable addiction. With time, counseling, and treatment, it is possible to overcome a gambling addiction and get your life and more importantly your family back. Most counseling for gambling addiction also includes family counseling to help repair the damage done.
