Debt management problems among students are being made worse by online betting, the gambling advisory service Gamcare has said.
The body warned that the attraction of winning a big cash prize to help pay off
Gamcare’s chief executive Andy McLellan was quoted by the paper as saying: “These students often don’t know how to handle money and don’t have the risk assessment skills required.”
Those who have debt management issues as a result of past gambling actions may be able to reduce their liabilities through taking on financial products that cost them less money.
In a report this week, Gamcare said that problem gamblers could have run up debts of as much as £60,000.
It also said the way to solve the problem is partly a matter of educating people to learn greater financial literacy.