GambleAware’s Research Shows Financial Aspects of Gambling

By | July 15, 2021

Gamblers’ behavior is rarely discussed in financial news, however, GambleAware, an independent charity organization focused on fighting against gambling-related harm, has conducted new research based on banking transactions.

Within the study, it has analyzed Monzo’s and HSBC’s payment transactions connected with gambling services to get a profile of an average player from a financial point of view and find out more about their behavior.

Reports highlight behavior patterns and possible gambling harm

The study results show that insight into banking data can become very helpful for the prevention of gambling-related harm and the usage of player exclusion tools. However, data taken only from one financial institution aren’t enough for getting a comprehensive idea of whether a player has negative consequences from gambling.

At the same time, the reports based on information received from two UK banks – Monzo and HSBC – have revealed many interesting facts. According to the information from Monzo, its clients who play at online casinos make five gambling transactions per month with twenty-two pounds spent on this on average. High rollers spend £684 per month on casino games, which is thirty-eight times more than average players do. In addition to this, their transactions are bigger, and they gamble more often than common players do. The data also show that the monthly expenditures of high casino spenders are considerably bigger than of those who don’t gamble – £1370 and £325 respectively. Fifty percent of all high rollers’ spendings belongs to the gambling industry. The research has also revealed that players start to use the opportunity to block gambling transactions on Monzo when their spending at online casinos triples.

During the analysis of its customers’ transactions, HSBC has divided gamblers into three groups depending on the level of their spendings. In the so-called “Very Concerning” group, players aged 18-30, mainly men, prevail. The average monthly sum spent on gambling within this group is £2 202 (35.6 transactions). A portrait of an average player who uses the HSBC services is a person aged 42 with an annual income of £47 000 and £93 deposited on gambling websites. The report from HSBC also proves the fact that customers with the highest income make bigger gambling payments.

Based on the acquired information and reports, GambleAware has prepared special instructions for financial institutions. This will help them to prevent gambling harm for their clients.

Read more: Simple explanation of gambling addiction

Read more: List of top UK online casinos

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