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August 9, 2007

Credit funds 13% of gamblers

by Gill Montia

Story link: Credit funds 13% of gamblers

Moneyexpert.com, the price comparison website, has published the results of a survey of regular gamblers, which shows one in eight respondents funding their activities using cash obtained through credit cards, overdrafts and personal loans.

The survey, which was carried out by YouGov and questioned more than 2,000 adults, found that respondents were likely to gamble at least once a month, with an average stake of £21.37, although a large proportion bet more substantial sums.

Of those surveyed, 13% used some form of borrowing to finance their gambling activity and 8% were using their life savings to the same end.

People placing bets financed by credit more commonly gambled online. Twice as many respondents in this category used Internet gambling sites rather than a bookmaker.

The Gambling Commission regularly publishes figures on the numbers of UK adults regularly participating in remote gambling, including online gambling.

Data for the four quarters to June 2007 show that 8.6% of the 8,000 adults surveyed had participated in at least one form of remote gambling (through a computer, mobile phone or interactive/digital TV), in the previous month. This compares with a figure of 7.4% for the same period of 2005/06.

Remote gambling using a computer, laptop or handheld device was most popular (6.7% of all adult respondents), followed by gambling via mobile phone (2.9%) and interactive/digital TV (under 2%).

Those participating in remote gambling are more likely to be male than female, and are likely to be aged between 18 and 34.

 

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