Gambler loses £158k in 50mins
A SHERIFF called for tighter controls on internet gambling yesterday after hearing how an addicted punter lost £158,000 in just 50 minutes.
Richard Mahan, 25, used his mum and dad's 13 credit cards to run up the colossal debt.
His betting frenzy only ended when he hit the credit limit on all the cards.
Mahan then tried to kill himself over his losses.
Sheriff Kevin Veal warned the fraudster that he faces a jail term.
And he added: "If £150,000 can be lost in 50 minutes under clandestine conditions in the early hours of the morning, it is an issue so great that it needs to be addressed by the wider community. It is a social issue."
Mahan logged on to a computer at his wealthy parents' mansion to go on his disastrous gambling spree.
He began by winning more than £90,000. By the end of the session, he was £68,000 in debt.
Brian Bell, prosecuting, told the court: "Within an hour, he started to lose money heavily until the credit cards ran dry and he ran up the debt. He then tried to commit suicide.
"The credit card companies told the father of the accused that unless the matter was reported to the police, the parents' insurance cover would not come into play and they would have to pay back the money themselves."
John Clancy, defending, said the case highlighted the need for proper regulation of online gaming. He added: "Internet gambling, along with alcohol and heroin, is the scourge of the 21st century.
"This case also raises questions about the wisdom of credit card companies allowing borrowing levels to be raised without any real checks."
At Forfar Sheriff Court, Mahan, whose parents live in Brechin, pleaded guilty to 13 charges of fraudulently running up debts in online William Hill betting rooms.
Sheriff Veal deferred sentence until next month for reports. He told Mahan: "A prison sentence may have to be imposed in the public's interest."
Campaigners are deeply concerned over the risks of online gaming.
A spokeswoman for the Samaritans said they were getting more and more calls from internet addicts.
She added: "This is a worrying trend and something that needs to be acted on.
"Compulsion to gambling can be a very destructive thing. People's lives can be turned upside down in a very short time."
Andrew Poole of gambling charity GamCare said recently: "The burgeoning number of treatment centres popping up in the UK show that a growing number of internet addicts need help."
source : Glasgow Record
