Kid Loses £80,000 Gambling with Dad’s Credit Card

A 13-year-old child stole his father’s credit card and began making online sports bets. Once the adolescent’s binge was over, the young teenager ended up losing £80,000 at internet sports betting sites. According to Gizmodo, the boy’s parents are now using the incident to caution about the downfalls of gambling. They say that the child […]

A 13-year-old child stole his father’s credit card and began making online sports bets. Once the adolescent’s binge was over, the young teenager ended up losing £80,000 at internet sports betting sites.

According to Gizmodo, the boy’s parents are now using the incident to caution about the downfalls of gambling. They say that the child was lured into placing big bets by ads found around London’s Wembley Stadium.

How the Boy’s Gambling Spree Began

The child started placing bets worth £3,000 on hundreds of matches per week. Being an inexperienced gambler, the boy thought that more bets would give him a greater chance to strike it rich.

Unfortunately for him, the increased betting volume only led to quicker losses. It wasn’t long before he’d lost so much that he’d made his parents £80,000 poorer.

Kid Thought that Gambling was “Fun” Way to Make Money

The 13-year-old was asked for a statement on his losses. And he offered the following:

“I had no idea that ­gambling could be an addiction like smoking, drinking or drugs. It seemed like fun and I thought I would make money too. It was just far too easy. I just had to put in dad’s name, ­address, date of birth and card details and checked a box saying I was 18 — it took literally seconds to register and start gambling.”

He gambled with his father’s credit card for six months before finally getting caught. The boy has since been flooded with interview requests on his unfortunate story.

The specific gambling site(s) where the boy lost money wasn’t named. But it’s likely that the gambling losses took place in the UK’s regulated market, where it’s legal to advertise through mainstream outlets.

 

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