Research shows thousands of gamblers consume almost £30 a week in gambling, taking out loans, and skipping college life to pay for their gambling habit.
According to a study, among 2000 college students, 80% of students gamble, and 35% admitted taking out student loans, payday loans, overdraft loans, or loans from other mates.
Among other bettors, 41% said they missed classes, homework, or social events.
There are around 2.5 million students in the United Kingdom, which reveals that tens of thousands of students are facing social or economic problems due to betting.
Average Students Spending on Gambling
Students said they spend an average of 31.52 pounds gambling per week, while nearly 20% are revealed to use over 50 pounds on gambling.
They were questioned what amount they have used on betting without distinguishing between profit and loss.
The most famous product is the national lottery (32%) which includes instant casino games for mobile and after that, 18% online bingo and 25% online sports gambling.
According to the report by Young Gamers & Gamblers Education Trust, a national lottery for bettors who wish to prohibit themselves from betting and online gambling is based on a previous study that showed the problem of 88k university students.
Martin Jones shares the story of his son Josh who committed suicide in 2015 after becoming obsessed with betting while in college, which later caused him financial issues.
“He went up to halls of residence and within 10 days he’d blown his first term’s loan, which was about £1,200,” – stated Jones.
Martin and his wife Kim had to manage Josh’s finances while he was at the University of Surrey, studying maths.
Shortly after graduating, he took a job in an accounting company PricewaterhouseCoopers but was unable to overcome his gambling addiction and committed suicide at the age of 23, owing 30k pounds.
Bray Ash, 29, who is a student of psychiatric nursing at London’s King’s College and previously has graduated from the University of Leeds, has also used up her student debt.
According to her, it literally took over her life as she no longer could dedicate herself to studying, but only to gambling.
During her second year at university, she finished her student loans within the first 24 hours.
“It is important that students have access to organisations, such as YGAM, to educate them about gambling and provide support and that they are aware of essential tools such as self-exclusion if they are experiencing problems with their gambling. I know that it would have benefited me when I was at my lowest point.”
A BGC spokesperson said that most youth betting is done with scratch cards, private gambling, and lotteries, not with Betting & Gaming Council members.
The council has also funded 10 million pounds to Youth Gambling Harm Prevention Program. It was delivered by prime welfares GamCare and YGAM. The funds are available to anyone aged 11 to 19 years and anyone who is working closely with these young people.