A 13 year old boy borrowed S$30,000?? This may sound ridiculous but it is a true story (as reported in my paper today). The editor has shared that the teenager has indulged himself in internet soccer betting and eventually raking up debt, becoming the youngest loanshark victim. Started with S$50, he has eventually moved on to S$1,000 wagers, chalking up a S$30,000 debt.
At this stage, his parents should have to approach The National Council on Problem Gambling for help, but the damage has been done.
Prevention is better than cure. Instead of resolving the problem after it has happened, parents should consider using technology to prevent such addictions from starting. Of course, technology is only an enabler. It should always work hand in hand with proper communication between parents and children in other to fully execute effective parental control.
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