Gambling Debts

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This is a type of credit in that bookmakers sometimes offer loans to encourage customers to continue placing bets. Obsessive gambling can quickly lead to debt. Gambling can take many forms such as placing bets at bookmakers, playing fruit machines or lottery scratch cards.
 
Gambling debts were historically classed as a debt of honour and could not therefore be enforced in the courts. However, this changed in April 2005 with the introduction of The Gambling Act 2005 which makes gambling debts enforceable like any other form of borrowing.
 
Like most debts gambling can lead to serious financial problems.
 
When tackling gambling debt it is important to stop gambling, share your problems with someone you trust and who can support you. If necessary ask someone you trust to look after your bank and credit cards to avoid succumbing to temptation. Seek professional help if gambling has become an addiction.
 

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