Frantic students resort to gambling
In a recent report, the charity organisation Gamcare released statistics that identify a third of the people they seek to help are students aged between 18 and 25. Mounting debts are the main cause of many students resorting to the dangerously unpredictable world of gambling.
Students are particularly vulnerable as most possess poor financial skills and so lack the risk assessment skills required. Andy McLellan, the organisation’s chief executive said: “They are in debt for the first time and wonder how to get out of it. They see maths students – who understand the risks – and believe they can do it, too.”
Adrian Scarff from Gamcare believes that the problem lies with how accessible gambling is online. Thousands of pounds can be gambled without having to leave the comfort of your own home and students with their own laptops and new-found freedom are falling victim. Scarff said: “Young people enjoy the buzz of gambling and over a period of time they might have fun, but the house always wins.”
Once having received their loans, students are increasingly playing games like poker in attempts to up their money. The reality is that they are inevitably throwing themselves deeper in debt. However, for those students still waiting for loans, gambling is fast becoming a temptation. Many take the risk and bet what money they have in order to make money quick. It is also more and more common for drunken students to wander to their nearest casino to continue the spending after a night out. The increasing amount of students doing so are worryingly labeled as the ‘silent addiction’ cases of excessive gambling.
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