What do you have to lose?
Financial Problems
How much loss does it take to see the problem?
Gambling's effects on a person's finances can be devastating if she/he becomes addicted. An addict might win big and think they can do it again, constantly chasing another big win. As the money runs out, the gambler becomes more desperate, using money meant for bills and other household items.
When those avenues become exhausted the addict could start borrowing money from friends and relatives, and, in extreme cases, resort to stealing. If a subject is having financial problems, and the reason for these problems is not obvious, the possibility that they are caused by gambling should always be examined. In other words, when an individual appears to have sufficient income, but nevertheless has financial problems, the financial drain of gambling is one possible explanation. A combination of poor financial condition and frequent gambling may justify denial of access to classified information. Even if the financial problems alone may not be sufficient for denial, disapproval may be warranted if the financial problems are caused by an ongoing pattern of gambling and the individual is not getting treatment. There is a high probability that the financial problems will get worse.
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In some cases, a nongambling spouse, partner, sibling, or parent may be legally responsible for debts created by the gambler. The gambler’s employer may be threatening to fire the gambler or have the gambler arrested if money stolen at work isn’t replaced. The gambler may plead that his or
her bookie is threatening physical harm if gambling losses aren’t quickly covered.
Loved ones frequently find it difficult to refuse bailout requests. This is especially true if they have already established a pattern of helping the gambler out of his or her immediate crisis. Furthermore, their refusal may cause financial problems for their household or for others who have lent money to the gambler.
In some cases, a nongambling spouse, partner, sibling, or parent may be legally responsible for debts created by the gambler. The gambler’s employer may be threatening to fire the gambler or have the gambler arrested if money stolen at work isn’t replaced. The gambler may plead that his or
her bookie is threatening physical harm if gambling losses aren’t quickly covered.
Refusing bailouts not only slows or stops the
financial bleeding, but may force the problem gambler to finally confront his or her addiction. As a compromise for loved ones who are hesitant or afraid to stop bailouts, they might agree to a bailout, but only on the conditions that there will be no further bailouts
and that the gambler seeks out or continues with a treatment program and/or Gambler’s Anonymous.
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Out of habit, gamblers usually have lied about their betting, often for years. It’s difficult for them to “come clean.” They may genuinely forget about some stashes.Anything is fair game to the gambler if it can be cashed in, borrowed against, pawned, or sold.
Worse, some of these assets cannot be easily replaced, such as family heirlooms or money pulled out of an IRA or retirement account at work.
A “stash” is any source for cash that the problem gambler does not disclose to a spouse, partner, treatment professional, financial advisors, or others attempting to help the gambler recover. It might be cash stuffed in an unknown safe-deposit box, an unreported credit card, pawned jewelry, unreported pay from work, a secret bank account, or individuals such as a loan shark. Income from a business the gambler owns, especially a business that deals a lot in cash, can be easy to hide.
Out of habit, gamblers usually have lied about their betting, often for years. It’s difficult for them to “come clean.” They may genuinely forget about some stashes.Anything is fair game to the gambler if it can be cashed in, borrowed against, pawned, or sold.
Worse, some of these assets cannot be easily replaced, such as family heirlooms or money pulled out of an IRA or retirement account at work.
It’s also important at this stage to encourage the spouse or other loved one financially involved with the gambler to disclose any stashes he or she
may have. It’s common for spouses, partners, and other loved ones to hide money from the gambler so they can pay the bills or just keep the money
from being gambled away. Honesty among all parties is critical here.
