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Gambler Debt Soaring to Crazy Heights and Climbing. Blamed on a Hopeless Economy.

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In Wisconsin a gambling addiction hotline has seen a substantial increase in the amount of debt gamblers are carrying. The average reported gambling debt in 2011 was more than $157,000, a huge increase over the average debt in 2010. The Executive of the Wisconsin Council on Problem Gambling said that more people are maxing-out credit cards, getting short-term loans, or ... Read More »

Are Penny Auctions Sites Worth It? RIP-OFF Alert!

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Penny auction sites are skyrocketing into the peripheral sites of digital users left and right. Steve recently wrote an article giving an inside look into one penny auction site: QuiBids.com. If you’ve never used or seen a penny auction site, let me break it down for you: there are various items, some big ticket and some small ticket, that are ... Read More »

What to Do When Your In Debt Because of Gambling

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If you’ve found yourself in debt because of gambling the worst thing you can possibly do is run towards a debt relief solution first. Before we begin to worry about getting out of debt the first step is to seek help and assistance for the underlying issue first, the gambling. If you don’t then you’ll wind up like most people, ... Read More »

In California About Half Report Funding Gambling on Credit Cards

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The State of California just released some interesting statistics regarding the 5,009 calls to their 1-800-GAMBLER hotline. 53% of the callers said they financed their gambling with credit cards. 38% said their credit cards were maxed out. The average amount of money the callers spent gambling was $28,647. The callers’ average personal debt was $29, 972. It appears from the ... Read More »

Securities Fraud Scammer Plays Poker to Pay Back Victims and Stay Out of Jail

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Another case of truth is stranger than fiction. Former stockbrokler Samuel McMaster Jr., who has admitted to 26 felony charges of securities fraud, struck a deal Aug. 4 with New Mexico authorities that could allow him to stay out of prison provided he can earn enough money playing poker to repay the $444,000 he took from his more than 20 ... Read More »

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