Problem gambling can have a detrimental effect on personal finances as the attempt to chase loses become unmanageable. As well as spending wages, savings and spare cash, debts can also be a feature of problem gambling as a result of borrowings and loans to cover gambling loses.
However, the effects of problem gambling can cost more than money. Problem gamblers often say they feel isolated as a result of their solitary pursuits of chasing loses. There is a tendency to stay away from school, college or work in order to gamble. In addition, there is often a pre-occupation with gambling, a lack of interest in maintaining relationships and a lack of motivation to engage in social activities.
There is often reluctance amongst gamblers to spend money on items of clothing, goods ,utility bills as money would rather be used for gambling purposes.
Problem gambling can be progressive in nature and problem gamblers can end up engaging in criminal activity to fund their gambling. This can lead to lifelong consequences with criminal convictions.