Learn About Crypto and Bitcoin Gambling Addiction

How Crypto Gambling Encourages Compulsive Behaviors

Its promise of autonomy made the blockchain and the cryptocurrencies so appealing. It promised to take back financial control from the government and allow everyday people to control their wealth.

The benefits of a decentralized currency like Bitcoin include the following:

• Total user anonymity

• No government control.

• No income or profit taxation

• Global cross-border transactions

• Lighting fast processing

• Incredible online security

The reality of human nature is that the things that we see as providing freedom can also be the very things that create unsafe environments for those who suffer from conditions like addictive personalities.

Being able to funnel funds into an anonymous account and play at any online gambling site worldwide without the deposit and loss limits applied by gambling regulators created a space for problem gambling to fester.

Learn to Recognize the Signs in Yourself and Loved Ones

If you feel that you or someone close to you has a Bitcoin gambling problem, there are several signs to look out for.

Here are five common signs of crypto and gambling addiction:

1. An obsession with the value of Bitcoin and how much can be won, claimed as a bonus or was recently lost.

2. Gambling is becoming the thing they value most. Family time, hobbies, and all other interests are replaced by games of chance.

3. Time and money spent gambling are being hidden from others and lied about.

4. Gambling becomes the way to deal with any stressful moment and the only way to relax.

5. Any attempt to discuss losses, time spent away from family, and limiting gambling becomes the basis for an argument.

Please do not rush to judgment here; a bad day or stressful week is not an addiction problem. However, we recommend speaking to a professional for guidance if it continues for a while.

How You Can Tackle Bitcoin Gambling Addiction Today

The first step in breaking free from Bitcoin gambling addiction is to recognize that there is a problem that needs to be addressed.

From there, take the following actions:

1. Do not feel ashamed – this is not a weakness. This is a condition that needs to be managed. Get the help you deserve!

2. Share your struggles with those closest to you – they most likely know something is wrong, but your openness will create a safe space for dialogue.

3. Contact a professional gambling support group to get counseling for yourself and your family – this is now a team effort.

4. Close your crypto gambling accounts – use self-exclusion tools where available and block all other gambling sites.

5. Limit your access to your crypto accounts until you have the tools you need to stay safe.

Once you get the help you need, one of the most praised steps in maintaining recovery is to replace old habits with healthy new ones. Go to the gym, spend time with family, start building that classic car again, whatever brings you joy, do that. 

FAQ

Why can crypto gambling become addictive?

Cryptocurrencies and the blockchain facilitate anonymity and unchecked cross-border transacting. Coupled with gambling, these activities can result in a lack of oversight and isolation, which are a rich breeding ground for addiction.

What are the warning signs of gambling addiction?

Three early signs of gambling addiction to watch out for are an ever-increasing occupation with playing games of chance, spending more on gambling and playing it out faster, and a repeated desire to stop gambling online without success.

How do I handle compulsive gambling behaviors?

If you suspect you are developing compulsive gambling behaviors, speak to your loved ones immediately. The next step is to contact a local support center so that you can begin receiving professional help, support, and guidance.