Group: Average debt for gamblers is highest ever

Associated Press

APPLETON, Wis. — The average debt for gambling addicts who called a Wisconsin hotline increased dramatically in 2011, according to a nonprofit that aims to help problem gamblers.

The average reported debt was more than $157,000, which is the largest-ever debt level in its history and more than $113,000 higher than 2010, according to the Wisconsin Council on Problem Gambling.

Executive director Rose Gruber said more people are maxing out credit cards, getting short-term loans from financial institutions, imposing on friends and relatives to fuel their habit, and gambling money they should spend on mortgage or rent payments.

She told The Post-Crescent that she hopes the spike is an anomaly.

“We’ve found that most problem gamblers are pretty good at hiding their addiction, so many of them face mounting debt before they take the step to call for help,” she said. “By then, the gambling problem has typically affected many others, including the gambler’s family, friends and often his or her employer.”

Gruber’s group provides resources and education on problem gambling, according to its website.

Keith Whyte, of the National Council on Problem Gambling in Washington, D.C., said high debt levels go hand-in-hand with compulsive gamblers, and gambling losses tend to mount when the economy worsens.

“In general, we believe that most problem gamblers have debt twice as high as their annual income by the time they get help,” Whyte said.