Sunday, August 14, 2022
HomeWealth ManagementAre your clients at greater risk of problem gambling?

Are your clients at greater risk of problem gambling?


Wealthy vs. poor

Asked if they had gambled in the past year, 71% of higher-income households said they had, along with 54% of those from lower-income households.

However, while 1% of the wealthier respondents were deemed at moderate-to-high risk of gambling problems, the risk for those who were poorer was three times as high (3%).

With lower discretionary incomes, even modest spending on gambling is likely to be a higher share of the household’s total spending.

Two thirds of respondents said they gambled in 2018, with buying a lottery ticket topping the list (52%) followed by instant win lottery tickets, online games, electronic terminals, sports, and casino.

At 4%, speculative financial markets activity ranked alongside bingo in popularity. Although when split by gender, 6% of men favoured speculative financial markets with the same share of women preferring bingo.

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