Back in the good old days you needed a few more steps before you got into debt after gambling.

Back in the good old days non-payment of gambling debt was a threat to your knee-caps. Today, you might get cut off from Klarna and have to extend your next auto loan to 256 months.

▲

tyre 2 hours ago | parent | next [-]

This was with their credit card. You're going to get demolished if you start bouncing gambling debt on a credit card.

I'm guessing that at some point, probably not very long from now, credit cards are going to cut down on this. They don't want to be held responsible for a bunch of debt from gamblers, when they've already paid the sites.

At some point, the fees won't be worth the combination of PR and actually losing money from bankruptcies / delinquencies.

	▲	nradov an hour ago \| parent [-]
		Most of those gambling sites don't have merchant accounts and aren't able to accept credit card payments directly. Customers take out cash advances or buy cryptocurrency through various shady intermediaries, then transfer the assets.

▲

TZubiri an hour ago | parent | prev | next [-]

Loan sharks that use threats still exist, non-bank personal lending funds use cold calling and connections with bankers and use non-staff third party callers to distance themselves from the consequences and reputation of threatening with violence.

So it's not like people need to go to shady lenders in the first place, they can be pipelined from normal credit card debt into less scrupulous debt collectors.

https://www.youtube.com/watch?v=BMntLU1bNE0

▲

ares623 2 hours ago | parent | prev | next [-]

[flagged]

▲

holistio 2 hours ago | parent | prev [-]

[flagged]