Though Standard & Poor’s and other credit rating agencies warned about a U.S. credit downgrade for quite some time, it was still a shock when it happened. Many people thought the U.S. was invincible and the fiscal rules didn’t apply because the country is so big and powerful. The decision by S&P shot down that idea. Though it is a low point in American history, it can serve as an example to everyone, including gamblers. No one is immune from the consequences of irresponsible spending and everyone must be careful with their debt.
The U.S. economy, the largest in the world, is in bad shape because the government spends more money than it takes in. It doesn’t take a genius to know that is not good. Some of the spending is justified, though, as “investments” that will bring in more money in the future. There are no guarantees for the future, though. That’s where some gamblers make a mistake.
Sometimes people will take out a line of credit at a brick and mortar casino or make a deposit on an online casino with a credit card. The thinking is that they will make the money back and then some, so it’s okay to spend money they don’t currently have. Sometimes those players lose, though. In fact, the house edge says that you are more likely to lose than win.
For that reason, we at Gambling Review advise that you never spend money that you can’t afford to lose. If losing a wager will cause any kind of hardship, don’t make that wager. That means you should especially not wager with money you don’t have. With a credit card, it can lead to pay for it long term, which makes it cost more from the interest payments. With a loan, it can mean committing a crime once your check bounces. In any case, all gamblers should learn from the U.S. government. Bad fiscal policy will eventually catch up to you, no matter who you are.
