Credit Cards More Harmful for Children than Online Gambling

June 08, 2009 | News Category: Casino Banking

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One of the main reasons given by online gambling opponents is the need to protect children from harm. These Internet gambling opponents feel so strongly that if online gambling is banned, it will protect children, that they do not seem bothered by the fact that adults are, therefore, deprived of their personal freedom and their free choice.

Barney Frank has argued against those wishing to protect children by explaining that the problem is not one of online gambling, but of easily accessible credit for underage gamblers. Frank has noted that many of the financial dangers that children can find themselves in from online gambling are not caused by the online gambling, but by the credit limits of the adolescents being badly, or totally uncontrolled.

Demagogues voice much concern over adolescents that find themselves in desperate financial states, and not knowing how to deal with it, end up suicidal. Frank asserts that if these same teenagers did not have the ability to borrow large sums of money, they would not find themselves in this difficult position.

Frank explains that Congress is in the process of reforming credit card practices, which would prevent college students from receiving credit cards. This is expected to reduce the likelihood that under 18 year olds will be able to find themselves in large amounts of credit card debt.

Frank said "If we were to ban every activity that is suitable only for adults because of the possibility that some underage people might access these activities, we would have substantially diminished our freedom as adults."

In many cases, the same maturity that is needed to responsibly use a credit card, is the maturity that is needed to responsibly gamble on the Internet. Whereas credit suppliers actively work to entice teenagers, online casinos actively work to discourage and turn down players who have not yet reached the legal playing age.

Frank also notes that even if online gambling was banned, the same young people that would find themselves in financial trouble would still be those whose access to credit cards is unrestricted.

Credit card debt is not restricted only to underage cardholders. Both adults and teenagers can find themselves with huge credit card debts if they are unable to control their credit spending. Banks make plenty of money off both teenagers and adults who are unable to control their credit spending. One wonders why those who so desperately wish to protect the rights of children, such as Spencer Bachus, have not yet gone after the banks and credit card companies, yet they spend their energies attacking an industry that works hard to prevent underage gambling.