The Financial Dilemma of a Compulsive Gambler

Typically, compulsive gamblers have serious financial problems.

Before a treatment program can begin to address the ' gambling problem', some semblance of order needs to be brought into the financial aspect of a gambler's life.

In addition to owing money to friends, relatives, credit card issuers, finance companies, loan sharks, bookies, and others, it is not unusual for compulsive gamblers to owe money to the Internal revenue Service (and its state equivalents) for unpaid taxes and to face foreclosure on their home mortgage or business loans.

The legal implications of these problems are so serious that the involvement of a lawyer may also be necessary.

Assistance from an experienced financial counselor may also be needed to develop repayment plans for outstanding loans.

If financial fraud, embezzlement or forgery have been committed, legal assistance and advice is also essential.

Another part of dealing with the compulsive gambler's finances is setting up a realistic and workable budget.

Often this requires turning over allowance. As might be expected, this tends to be strenuously resisted since it severely limits access to gambling money and places the gambler in a dependent, childlike status.

Moreover, it represents a dramatic change in terms of the extent to which the gambler is in control of his or her life.

A related aspect of dealing with finances is developing a 'restitution plan' for paying back what is owed to relatives, friends, co-workers, and others.

It often require tactful negotiation with the people to whom the money is owed.

On the one hand, compulsive gamblers find this embarrassing, since it involves admitting to others the extent of their gambling problem and their inability to control it.

On the other hand, it is valuable because it forces gamblers to confront the extent and seriousness of the financial problems that exist and the impact that gambling has had on others.

By the time compulsive gambling seek help, it is quite likely that their jobs are in jeopardy. Absenteeism, tardiness, lack of attention to work responsibilities, and borrowing from co-workers are all likely to make the compulsive gambler less than a valuable employee.

Consequently, it is often necessary to inform an employer of the nature of the gambling problem that exists.

Understandably, compulsive gamblers are resistant to doing this, bit it is essential if the gambling problem is going to be addressed in a comprehensive way.

In such cases, treatment needs to address the alcohol/drug problem as well as the gambling problem.

Treating compulsive gambling involves more than just treating the gambler. It necessarily includes treating the gambler's family. Issues such as money-management clearly involve the spouse and often other family members.