Nationwide Building Society warns of average gambling losses of £351 per person and introduces a 72-hour gambling block feature to protect customers.
Nationwide has issued a stark warning to its millions of members, revealing that people lost an average of £351 through gambling over the past year, according to its latest research. The world's largest building society found that 11% of UK residents gamble daily. Alarmingly, it also revealed that 4% of individuals lost more than £1,000 in a single bet at some point over the last year.
In a survey of 2,000 gamblers, it was found that 63% place a bet at least once a week, and 23% don't set any time or money limits. Worryingly, nearly one in ten (9%) have lost money they rely on, and a fifth wouldn't seek help if they felt their gambling was becoming problematic. To combat this, Nationwide has introduced a gambling block feature across its accounts to protect customers' cash. This block, designed to discourage impulsive betting, will remain in place for 72 hours after deactivation, preventing any bets from being placed during this period. The building society believes this is a sufficient time frame to cover a weekend of sport. The poll also highlighted gender differences in gambling habits, with 73% of male respondents and 55% of female respondents gambling at least once a week, and 15% of men and 8% of women gambling daily, reports The Express. Men are significantly more likely to lose larger sums of money through gambling, with the average loss on a single bet being £265 compared to women's £98. The gender disparity extends to last year's average losses, which were £467 for men and £255 for women
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