YouGov – Gamblers cite the high cost of living as a reason to cut back on their gambling
A new survey by YouGov paints a positive image of the UK’s societal tilt toward gambling. People may be starting to wean themselves off gambling as a personal choice, according to 700 people polled. According to the findings of the study, 18 percent of gamblers in the United Kingdom are considering quitting because of increased gaming expenditures and high price index inflation.
YouGov and The Department of Trust (DoTrust) commissioned the survey in order to better understand gambling attitudes and trends. While 18 percent want to stop gambling totally, another 32% said they’d like to cut down on the amount of time they spend gaming rather than stop it altogether.
This indicates that over half of Britain’s regular gamblers may be seeking for a way out of the hobby entirely, albeit quitting gambling is far more difficult said than done. Surprisingly, 49 percent of gamblers did not modify their minds about the pastime and stated they would continue to gamble as much as before. Another 1% stated they would consider expanding the amount and duration of their time spent. Those who stated they would cut back on their hobbies, or 351 people, had a group of 211 people who claimed it was because of the rising cost of living. Another 34 respondents stated personal circumstances influenced their decision more than anything else, and 80 people said their priorities had evolved.
34 participants said they were unsure if they would consider increasing or decreasing their gambling because it was not something they had considered. The survey next turned to inflation and growing living costs. 11 percent of the 700 gamblers confessed that the shift had had a negative impact on their finances and that they were struggling to pay their bills and costs.
To protect gamblers, operators must intervene.
Another 43% of gamblers claimed they were already feeling the consequences of inflation and were cutting back on non-essential expenditure. Although 38% of gamblers stated that the cost of living had an impact on them, they did not intend to make any immediate adjustments to their spending patterns.
Another 7% stated that they were unaffected in any way. The report should be taken with a grain of salt, according to DoTrust chief executive and creator Charles Cohen, but it simply suggests that gamblers may have fewer dollars at their disposal to play. YouGov and Cohen agreed that in order to keep consumers safe, operators must now step up and ensure that consumers are safeguarded.
This comes as part of a bigger revamp of the United Kingdom’s gambling legislation, which is expected to tighten financial controls and introduce additional consumer protection measures.
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