This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy. Read more

Online gambling 'may factor in debt'

15 August 2007
The Insolvency Service has seen a "massive increase" in debt caused by gambling.

Spokesperson Ian Boden-Smith added the growth in online gambling is fuelling this rise in debt advice.

He explained although the service has historically had referrals from casino and slot machine providers, the rising number of online gambling portals is now having an effect on the cases it sees.

The spokesperson also said that as people can pay online via credit or debit cards, they can generate as much debt as their card will allow them to.

Nevertheless, Mr Boden-Smith did state that although people do try to win back any money they have lost, and generate debt in the process, gambling is a "beatable condition".

Those trying to avoid bad credit and protect their bank accounts may also interested to read that the spokesman said online gambling sites should do more to demonstrate their social responsibility.

The Gambling Commission, a government watchdog, recently found that 8.6 per cent of adults participated in remote gambling on a monthly basis during the year ending June 2007.

Find out more about debt advice

track© Adfero Ltd