Published
OnlineFinancialIndustry

YouGov survey suggests 43% of problem gamblers own cryptocurrency

A recent survey by market research and analytics company YouGov has proposeda link between gambling, cryptocurrency and financial worries due to the cost of living crisis.

yougov generic logo gi web image
Listen To Article

The survey, commissioned by gambling support charity GamCare to mark its 25th anniversary, looked at a sample group of 4,000 people from across the UK, for their views on gambling and financial issues.

According to the research, a concerning recent trend is a rise in high-risk trading and investing, particularly involving cryptocurrencies. The study found that 43% of problem gamblers own cryptocurrency, 66% of low-level problem gamblers looked to cryptocurrency trading to make money and that problem gamblers are more likely to report negative experiences with cryptocurrency.

GamCare Chief Executive Anna Hemmings said: “It is concerning to see the survey data, which suggests that those who have experienced serious gambling harms are more likely to experience negative impacts when crypto trading, such as chasing their losses, feeling overwhelmed and not being able to pay their bills.”

Financial pressure resulting from the rising cost of living was another key issue revealed by the study. YouGov data found that 46% of participants in the study were worried or very worried about their financial situation. This figure rose to 61% in those who also reported significant gambling losses.

GamCare helpline advisors report callers gambling as a way of making extra money, hoping that it will improve their financial situation but only making it worse. Furthermore, advisors reported cases of callers who had recovered from gambling addiction relapsing due to the pressures of their financial difficulties.

GamCare’s latest annual figures showed that 75% of gamblers using the helpline reported financial difficulties, with 66% of them in debt. Of those in treatment for gambling issues, 80% reported financial difficulties with 66% in debt.

Premium+ Connections
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Gaming and Leisure Properties
Passport Technology
PrizePicks
Choctaw Casinos & Resorts
Follow Us

Facing Facts: Analysing North American sports betting and iGaming operators performance in 2024

How have sports betting and iGaming in North America been de...

Taking Stock: A guide to land-based operator and supplier prices

Gambling Insider tracks land-based operator and supplier pri...

Previewing G2E 2024 in Las Vegas

The Global Gaming Expo returns to the Venetian Las Vegas for...

Preview: Global Gaming Awards EMEA 2025

The gaming industry’s most prestigious Awards ceremony tak...