GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.

These brands compensate us to advertise their products in ads across our site.

This compensation may impact how and where products appear on this site.

craps gambling table

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.

you’ve got the option to read more about oureditorial guidelinesand our products and servicesreview methodology.

In his late 20s, he got hooked playing Blackjack at a casino in California.

facebook sharing button

The rush of gambling was potent and intoxicating.

It wiped out logic and reason.

The compulsion to keep playing, even once Whitakers finances took a beating, was overpowering.

twitter sharing button

By January 2020, after four years of addictive gambling, Whitaker was financially devastated.

My credit score was under 500, and my car was repossessed, he said.

My gambling habit resulted in an estimated $120,000 in losses over four years.

linkedin sharing button

Desperate and in horrendous financial shape, Whitaker joined Gamblers Anonymous.

It may sound like a tired cliche, but this recognition is key.

Or maybe just take a break?

email sharing button

Maybe switch to a different game than your usual?

Wed shake our heads, knowing that attempts at moderation just dont work.

And its the same thing with gambling.

If gambling has damaged your wealth, you have to stopcompletelyin order to rebound.

If youre resistant, remember this: Gambling is designed to keep you losing.

Be careful not to let that push you into paralyzing anxiety, as that will impede your recovery.

Begin your plan of attack to tackle debt by writing down every single debt you carry.

This support system becomes crucial in moments when you feel tempted to gamble again.

Couldnt just one big win fix this mess?

Dont fall prey to this unsound thinking/fantasy.

However, that is not usually the case.

So it is important to take stock of the debt and your current financial situation.

Is the debt something you might pay reasonably quickly?

Do you need a debt consolidation loan?

Do you need a second job to make it happen?

So wiping away the debt may help with avoiding gambling in the future.

Both options require really looking at your income and budget and to understand where your money is going.

Recovery plays a pivotal role here and continues to help Whitaker keep the demons of gambling addiction at bay.

Its also given him tools to help boost his financial health.

There is a way out, but it requires honesty, openness and the willingness to commit to recovery.

Programs like GA not only provide emotional support but also practical tools to manage debt.

*The source has chosen this alias to protect his anonymity.

More From GOBankingRates

Share This Article:

The Latest inNet Worth