Hi everyone i have had a serious gambling problem for the last 8 years or so.
In 2014/15 i lost 18k in a share dealing account which i was supposed to invest in low risk shares to help pay for future university fees. I lost it all in high risk small companies often putting all my capital into one company.
Then i took out various loans and credit card debt to try and make the money back
I also discovered financial spread betting and tried to use that to generate quick returns.
I basically borrowed 70k in total and lost it all within the space of a couple of months spread betting on markets.
This all happened just after i was diagnosed with blood cancer so i was not in the best place mentally and physically.
I had to give up work in 2016 partly because of fatigue due to my cancer ,and because of the overwhelming debt i was in.
Fast forward to 2022 and my health is not much better, i am still not working and have three CCJs and the outstanding debt remains.
I am have been on benefits for the last few years, and have recently started spread betting again and have lost about £1500.
My extended family all know about my gambling addiction, and they hate me for it.
I used to be good with money but now i am seen as a drain on resources and an inconvenience to everyone.
My GP knows about my addiction, and referred me to the mental health team which offered me the SMART recovery program for addictive behaviour.
I completed the programme remotely ,but it has not really helped me.
I feel useless and ashamed and am worried now that when i get my pension in a few years time i am going to lose it all to gambling.
,
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Hello @overthinker
Thank you for joining the GamCare forum and sharing your story. It sounds like you've had a really tough time over the last few years, and now you're understandably concerned about protecting your financial future. If you don't feel you can trust yourself with your pension, you might want to prepare for that by getting some impartial advice through a service such as the government's Money Helper service. https://www.moneyhelper.org.uk/en
Also, did you know that Gamban blocking software blocks financial trading sites and apps? If you'd like a link to access Gamban for free, give us a call on the Helpline on 0808 8020 133 or livechat. There may be other support options available too which we can look at with you. We're here 24/7 so contact us any time.Â
Thanks again for posting and we hope other forum users will be able to offer support.
Keep posting,
Deirdre
Forum Admin
@overthinker Hi,
I have previously been in deep gambling trouble due to spreadbetting as a primary approach. I also took out credit cards to hide losses, then used them to make more debt. I also left one of my jobs at a similar time to you - the stress was giving me a breakdown basically physically and mentally, it was also a tough job but debt was the main thing.
Can I ask if you have had debt advise firstly? Organisations like Stepchange for example? They are great at helping with that issue. They were a huge help to me. I hope your health can get better over time, and getting financial support would help with that I always believe.Â
@overthinker Great, can't even say how much they helped me, basically without them I'm not sure I could have seen any way out. Debt is often the biggest cause of problems, even when you blame something else like a job or relationship and I personally believe debt causes even worse gambling behaviour - gives you a long term chasing kind of feeling.
When you can control debt, other aspects can also start to be controlled in your life. All the best I hope they can help you too.
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