There is nothing in the laws from the Gambling Commission to say that those losses have to be paid back unless the victims have actively requested to be stopped from gambling and the company in question hasn't done enough to make that happen.
Professional help is available to stop gambling and stay away from it for good.
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An untreated and severe gambling problem can cause the worst anxiety and depression which leads to an incredible sense of despair. This despair can lead to gambling related suicides which are not uncommon. Gambling addiction has the highest suicide rate of all addictions, hands down.
Limitations on loss deductions
The amount of gambling losses you can deduct can never exceed the winnings you report as income. For example, if you have $5,000 in winnings but $8,000 in losses, your deduction is limited to $5,000. You could not write off the remaining $3,000, or carry it forward to future years.
The IRS will generally not accept the statement as proof of loss, but it will accept is as corroboration of your personal log, like ATM receipts, redeemed markers, etc. Jean and Marissa say that the IRS is evolving in terms of win/loss statements.
Mental health disorders.
People who gamble compulsively often have substance abuse problems, personality disorders, depression or anxiety. Compulsive gambling may also be associated with bipolar disorder, obsessive-compulsive disorder (OCD) or attention-deficit/hyperactivity disorder (ADHD).
Many people believe that if a gambler is losing excessive amounts of time and money gambling, they should just stop. The fact is, gambling addicts cannot "just stop" any more than an alcoholic or drug addict can stop using their drug of choice. ... This is also when gamblers may realize that they need professional help.
Studies have shown that the release of dopamine during gambling occurs in brain areas similar to those activated by taking drugs of abuse. In fact, similar to drugs, repeated exposure to gambling and uncertainty produces lasting changes in the human brain.
You can ask a business to exclude you from gambling with them for a set length of time – usually between six months and five years. This is called self-exclusion. It means you will be refused service from these venues and websites. Gambling businesses must offer this option by law.
Chances of getting big wins
This is one of the main reasons why people love to gamble. Most gamblers have the mindset of hitting the jackpot and winning a large amount of money. This mindset gets them overwhelmed and makes them deposit more and more money into gambling. They want to feel “high” after winning.
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