Gambling is one of the fastest-growing addictions in North America and around the world. A lot of people find themselves caught in a gambling cycle, and unable to quit. Gambling problems usually lead to marital breakdown, bankruptcy or financial hardship, suicide, crime, reduced health and increased use of alcohol and other substances. So how can we recover from gambling losses and gambling debts if we find ourselves caught in the gambling cycle? As a person who was once in this situation, I will tell you that recovery is possible, but we have to take action and do what it takes to recover from this gambling disaster. It would not be easy but, it will be possible at least.
Recovering from big gambling losses and debts is possible, no matter how big the loss and the debts may be. To recover, there are several steps we need to take, such as asking the gambling company we use to ban us from their platform or service to stop our gambling habit, We also need to create a plan to repay all the debts we have accumulated, and seek help from therapy or support from family, friends or a church. Lastly, we will need to increase our monthly income and develop good habits to fill the void we may feel after quitting gambling.
In the following lines, I will explain in more detail the steps we need to take to achieve our goal of recovering from big gambling losses and gambling debts.
1. Asking The Gambling Company We Use To Ban Us
In order to successfully recover from our gambling losses and debts, it is imperative that we first put an end to our ongoing gambling habit. Continuing to gamble or thinking that we can recover our losses by gambling more will only make things worse. We must learn to release the weight of our past gambling losses and instead concentrate on the path to recovery.
In order to overcome our gambling addiction, one effective solution is to request that the gambling company we use ban us from their platform or service. By losing access to these platforms, apps, or services, we send a strong message to our brains that there is no possibility of returning to gambling. This can help us to focus on our recovery and move forward.
When we stop our gambling habits, we will really feel a sense of freedom, that we have not had for a long time, it will feel like a weight has been lifted from our shoulders, and experiencing that will be so good for our mental health.
2. Creating a Plan to Repay All of Our Accumulated Debts
Creating a plan to pay off all of our accumulated debts is an excellent option as it will give us a detailed understanding of our financial situation. We need to write down all of our monthly earnings and expenses. It is crucial to have a clear idea of how much we spend on various things like food, phone bills, home internet, gas, gym, entertainment, and mortgage. Additionally, we must have clear details on how much we pay each month towards our accumulated debts.
If the gambling debts have been obtained as a loan, we should contact the loan company and try to negotiate the interest on the loans. Otherwise, we will end up spending more time paying interest than actually paying off the principal debts.
It is important to prioritize paying back any debts owed to friends or family members as soon as possible. This is because financial matters can sometimes affect personal relationships negatively. We should always value good friendships and avoid taking advantage of them. We must keep our promises and honour our commitment to them if we want them to continue trusting us. Gambling can lead to situations where we might be tempted to lie to our loved ones, but this can severely damage the trust they have in us. Therefore, it is better to be truthful and transparent about our financial situation and let them know when we will be able to repay them.
Last but not least, we need to review our budget, identify areas where we can reduce expenses, and increase our monthly payments to address our accumulated gambling debts.
3. Seek Help from Therapy or Support from Family, Friends or a Church
We all face challenges in life, and it's completely normal to need help at times. When it comes to gambling struggles, it's essential to talk to someone who can listen without judgment. Keeping these struggles to ourselves can have a negative impact on our mental health. That's why it's important to open up and be honest about our situation. It's helpful to have someone who can follow up with us on our progress to ensure we're moving forward in a positive direction.
Many people keep their struggles to themselves because they fear being judged. Therefore, if you want to offer help or support to someone struggling with a gambling addiction, it is important to lend them your ear and listen to their story. Once you understand their situation, you can provide guidance on how they can break free from the cycle of gambling and prevent themselves from falling back into it again.
This process will help us understand that there is life without gambling. We can enjoy watching our favourite sport without having to gamble on the outcome. Talking to people who do not gamble and seeing what they do for entertainment can motivate us to change our habits.
4. Increase Our Income
When you suffer a significant loss in gambling and accumulate gambling debts, it becomes challenging to maintain a good standard of living. To recover financially, it is imperative to increase our income. We should be willing to change our situation and do everything in our capacity to improve it. If possible, we can look for a second job to reduce our debts and start investing to improve our financial status.
Nowadays, there are various side hustles that we can start to increase our monthly income. For instance, we can offer freelancing services, do food delivery, work for Uber or Lyft, start an online business, start a print-on-demand business, create a blog, start a YouTube channel and more.
5. Develop Good Habits To fill The gambling Void
Many individuals experience a sense of emptiness after they quit their gambling habit. This feeling is caused by the release of dopamine that occurs during gambling, which our brain becomes accustomed to. As a result, our brain craves the same emotions and sensations we experienced while gambling, leading to a sense of loss when we stop.
So if we want to fill the void after quitting gambling, we have to develop good habits, such as playing soccer, basketball, Volleyball, and football, exercising, learning to play a musical instrument, practicing martial arts, and more.
These kinds of activities provide as much dopamine as gambling can provide, Sport is good for our mental health, and overall health, the only difference is that gambling is a very negative activity that is based on luck instead of your effort and ability.
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