You don’t have to go in debt up to your elbows to play a round of poker or hit the slot machines for a little while. However, you do have to know exactly how much money you can afford to gamble. For example, if you are planning your first vacation to a gambling state, you should sit down and budget out how much you can safely throw away. You shouldn’t include credit cards or borrowing as this will only leave you in a mess that you will be paying for a long time.
No credit cards for gambling means no credit cards. You can’t fool your debt load by paying for dinner with the credit card and then using the dinner money for playing the slots. The only person you are fooling is yourself. You are still ultimately paying for your slot machine time with your credit card. Set your budget for your trip and don’t stray in any way simply to free up more money for the tables.
If you are going to be gambling online, make your deposit but don’t leave your account open for easy deposits. Make a onetime deposit and make sure you aren’t using a credit card for the deposit. You don’t want to pay interest on your gambling money. Read more