Woman using laptop to gamble

RISKS OF ONLINE GAMBLING
7/1/2021

Opportunities to gamble in Michigan have increased this year with the opening of online sports betting and online gambling, launched in January. It has become simple, fast, and easy to pull money out of a bank account or add debt to a credit card only to lose it within minutes. Although online betting and gambling can be a fun activity, it is important to know the risks of online gambling.

 
Many people enjoy online gambling. Nevertheless, this fun activity can transform from an occasional source of enjoyment to a financial problem. When you choose to gamble, you risk losing something in hopes of obtaining something of greater value. Much like drugs and alcohol, gambling stimulates the brain's reward system, which can lead to added stress in your life if your losses begin to outweigh your gains. If you have a problem with gambling, you may find yourself chasing the next big win, hiding your behavior, depleting your savings, accumulating debt, or even resorting to theft or fraud to support your habit.

People can end up in serious debt before they realize they have a problem. If you do choose to gamble, the Michigan Department of Health and Human Services  recommends following these strategies to help you keep gambling a fun and manageable form of entertainment:
 
  • Always gamble with others and not alone. Having friends, family, or colleagues nearby can keep gambling from getting out of hand.
  • Set limits on how much time and money you spend on gambling, stop before or when limits are met.
  • Never gamble on credit.
  • Don't use household money for gambling.
  • Don't drink alcohol while gambling.
Remember- never gamble more than you can afford to lose. 

If you are experiencing financial trouble because of gambling, Christian Financial is here to help members financially get back on track. We offer our members financial counseling and debt management services thru our partner GreenPath Financial Wellness. GreenPath is a national non-profit assisting individuals for over 60 years and will work with our members to provide the best possible options based on your individual financial situation.

Our partnership with GreenPath gives our members a FREE financial counseling session. Request a financial counseling session with GreenPath today! 

Facing a gambling problem can be an overwhelming experience, and people who get in over their heads can feel like there is no way out. If you or someone you know needs help with gambling, call the Michigan Problem Gambling Helpline at 1-800-270-7117.