2 Nov 2006 editorial entitled The Online Casino Spree that Ends Badly

The Online Casino Spree that Ends Badly

It seems that an online casino spree that goes wrong can end up with a nine year prison sentence. Recently, an unregistered financial adviser, Philip Smith, stole more that GBP 2 million from his clients to fund his online casino gaming addiction, conning 51 victims out of their money. Many of these victims were vulnerable and elderly. A total of GBP 1.75 million was taken by Smith from clients and laundered a further GBP 600,000 to fund his online casinos accounts.

His betrayal of clients and their trust, as well as his deception when stealing from them, shows how gambling addictions can drive people to do unimaginable things. The largest single theft Smith committed to help finance his online casino dilemma was GBP 185,000 from a woman in her 60’s. In addition, Smith somehow managed to convince his clients to tell him their credit card details, which he then used to add to his online casino betting accounts.

Online casino play is fun and exciting and can make a person feel like they are having the time of their life in Atlantic City or Las Vegas. Unfortunately, online casino gaming can also lead to various forms and severities of gambling addiction. There is good news, however; many services and organizations are available today to help people who feel they are losing control of their gambling habits. Philip Smith would have been wise to contact one of these associations before betraying his clients, and receiving nine years in prison.