35% of students who gamble use borrowed money
New research has revealed that more than one in three university students who gamble use borrowed money to do so.
A survey of 2,000 students commissioned by self-exclusion scheme Gamstop and the Young Gamers and Gamblers Education Trust (YGAM) found that 80% of them had gambled.
Of these, 35% had used money from their student loans, overdraft, borrowed from their friends or taken out a payday loan.
According to the research, which was conducted by London-based consultancy firm Censuswide, the mean gambling spend for students was £31.52 ($42.86) per week, though 18% admitted to spending more than £50 per week.
38% reported gambling at least once per week, with 63% gambling at least once per month. 28% of respondents said they were gambling as or more often than before the pandemic, while 29% said they were spending as much as — or more than — before.
The most common reason provided was to make money, with 46% of students giving this as their primary motivation. 52% said that gambling makes them feel excited, and 33% said it makes them happy.
Students who had gambled were also more likely to invest in cryptocurrency. 36% of those who said they do gamble had made an investment in cryptocurrency over the past 12 months, while only 17% of those who said they do not had acquired cryptocurrency.
Commenting on the survey’s findings, YGAM Director of External Affairs Daniel Bliss said: “This research provides us with some valuable insights into the behaviours of students during the pandemic.
“We’re keen to build on this piece of work to better understand how our programmes can safeguard and support students.”
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