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 siphoning money off of family and friends to fuel this gambling habit. Anyone really surprised over that?
A down economy fuels gambling debt as more people feel frustrated, desperate, or hoping for a financial miracle. What the heck, put it all on red. We’ve got nothing to lose.