Students In Gambling Debt

Belle Rosario By Belle Rosario, 21st Feb 2010 | Follow this author | RSS Feed | Short URL http://nut.bz/-ly87c43/
Posted in Wikinut>Gambling>Peer To Peer

Las Vegas’s favourite pastime is slowly spreading across the UK and landing British students in outlandish debt.

It’s a game of chance…

Las Vegas’s favourite pastime is slowly spreading across the UK and landing British students in outlandish debt. British undergrads are getting into debt and turning to online gambling and casinos as a ‘Get Rich Quick Scheme’.

“Students receive their loans and then play games like poker as they think that it is a game of skill, but can quickly get themselves into financial trouble as gambling can often get out of hand.” – Judith Carey, director of student services at The University of Lincoln.

Many students view online gambling as an easy way to make money while being at university. Usually it begins as a hobby but without doubt becomes an addiction with many students not knowing when to stop. Matt Veal, a semi-professional online poker player warns that it takes a lot of time and dedication to be successful. He says only 10% of players make any real money from the game. Is it really worth the risk? Speaking from experience he added “After a lot of time and effort I came away with £12,000 in tournament winnings in 2007. But at the end of the day it is still a game of chance and the skill is in knowing when to walk away,”

Monitoring the problem is Gamcare, a charity that deals with troubled gamblers. Gamcare have reported that in recent statistics over a third of the troubled gamblers they deal with are between the ages of 18-25 and many are students. The charity have highlighted the internet as a major factor leading to gambling problems as it offers enticements to gamble and win instant money without even leaving the comfort of your bedroom.

"We are picking up more and more people in these circumstances. 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,"
- Andy McLellan, the organisation's chief executive.

A Gamcare representative, Adrian Scarf, commented that “Young people enjoy the buzz of gambling and over a period of time they might have fun, but the house always wins.”

Tags

Charity, Gambling, Gamcare, Student, Students, United Kingdom

Meet the author

author avatar Belle Rosario
Annabelle is a student from Manchester UK, currently studying Journalism in Leeds UK.

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author avatar Retired
10th Nov 2010 (#)

Thanks

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