The Money and Mental Health Policy Institute, established by Martin Lewis, has announced the formation of the Gambling Harms Action Lab, comprising seven financial services firms. These organizations will collaborate over the next 18 months to enhance support for individuals in the UK experiencing gambling-related harm.
Participating Financial Institutions
Seven firms have committed to the Gambling Harms Action Lab. These are: Barclays, first direct, HSBC UK, Monzo, Starling, Virgin Money and Nationwide.
This initiative is funded through a regulatory settlement approved by the UK Gambling Commission (UKGC).
Addressing Gambling Harm
Recent studies by the UKGC have highlighted that approximately 2.5% of British adults are experiencing gambling-related harm, with 3.7% at moderate risk and 8.3% at low risk. Notably, 58% of those experiencing harm had not accessed support services in the past year.
Our Gambling Survey for Great Britain (GSGB) Annual Report has launched today.
Thanks to @NatCen and @UofGlasgow for their support.
To read our blog post, visit our website💻 Blog – Gambling Survey for Great Britain – First Annual Report (https://t.co/gZPVhRQs3b) pic.twitter.com/VRTDkl1wFe
— Gambling Commission (@GamRegGB) July 25, 2024
Collaborative Efforts and Tools Development
The core objective of the Gambling Harms Action Lab is to utilize the expertise of financial institutions to identify and mitigate gambling harm. The participating firms will explore innovative approaches and tools to assist individuals struggling with problem gambling. Collaboration with the Money and Mental Health Policy Institute and insights from individuals with lived experience will guide the development of these tools. The inaugural meeting of the Action Lab is scheduled for later this month.
The Need for Cross-Sector Collaboration
Nikki Bond, head of the Gambling Harms Action Lab, emphasized the importance of cross-sector action in addressing gambling harm. She expressed enthusiasm for the commitment shown by the seven financial services firms in joining the program. Bond highlighted that the initiative offers a platform for firms to collaborate and overcome shared challenges related to problem gambling.
Tim Miller, executive director of the UKGC, reiterated the call for greater sector collaboration to tackle problem gambling and related issues. He acknowledged that while financial services are not the root cause of gambling harm, they play a unique role in the solution. Miller expressed gratitude to the firms for supporting this important program.
Gambling Issues among Young People on the Rise
Over the past five years, gambling participation in the UK has remained significant, with notable variations across demographics. According to the Health Survey for England 2021, 50% of adults engaged in some form of gambling in the preceding year, with men (55%) participating more than women (45%). The highest participation rates were observed among individuals aged 45 to 54 (61%), while those aged 16 to 34 had the lowest rates (39%). Online gambling, excluding lotteries, was more prevalent among men (14%) compared to women (5%), and decreased with age, from 14% among those aged 16 to 44 to just 1% in individuals aged 75 and over.
When examining gambling behavior by income, the same survey found that participation rates were relatively consistent across different household income levels. However, the prevalence of at-risk or problem gambling was higher among certain groups. Approximately 2.8% of adults were identified as engaging in at-risk or problem gambling, with men (4.4%) more likely to be affected than women (1.1%). The highest rates were among those aged 35 to 44 (4.5%) and 45 to 54 (3.7%). Notably, individuals who gambled on four or more different activities were more likely to engage in at-risk or problem gambling (27.8%) compared to those who participated in fewer activities.
Research has identified correlations between gambling and various socio-economic factors. A study analyzing bank transaction data from 1.5 million HSBC UK customers found that while most individuals spent less than 1% of their disposable income on gambling, a minority (approximately 1.5%) allocated an average of 58% of their disposable income to gambling each month. This high-expenditure group also experienced significant declines in wealth over time.
Efforts to mitigate gambling-related harms have intensified. The National Strategy to Reduce Gambling Harms (2019-2022) aimed to enhance prevention and education, improve treatment and support, and strengthen research and evaluation. Initiatives included public health campaigns, regulatory measures, and the expansion of treatment services. The strategy emphasized the need for a collaborative approach involving government agencies, healthcare providers, and the gambling industry.
The outcomes of these initiatives have been mixed. While there has been progress in raising awareness and providing support, challenges remain. For instance, the proportion of children aged 11 to 17 classified as having a gambling problem more than doubled, reaching 1.5% in recent years. This increase underscores the need for continued efforts to address gambling-related harms, particularly among vulnerable populations.
Gambling Harm Prevention Efforts in Europe
In recent years, several European countries have implemented comprehensive strategies to prevent and reduce gambling-related harms, yielding notable outcomes. In Finland, the government has adopted a holistic approach that encompasses both universal and targeted prevention measures. The Finnish gambling policy program emphasizes changing public attitudes towards gambling, reducing associated stigma, and enhancing early identification of gambling problems. This strategy also integrates elements of gaming harm prevention, recognizing the convergence between gaming and gambling activities. By involving multiple stakeholders, including governmental bodies and non-governmental organizations, Finland aims to create a cohesive framework for harm prevention and reduction.
France has taken significant steps by enacting legislation that acknowledges gambling as a product with inherent risks, necessitating strict regulatory supervision. This legislative framework allows for stringent oversight of gambling activities, ensuring that operators adhere to responsible practices. Additionally, France has established a ‘data vault’ system where every bet placed is recorded. This centralized data collection enables regulators to monitor gambling patterns, tailor policies effectively, and identify at-risk groups promptly. Such measures have been instrumental in mitigating gambling-related harms and promoting safer gambling environments.
At a broader level, the European Gaming and Betting Association (EGBA) has been pivotal in promoting safer gambling practices across the continent. Initiatives like the European Safer Gambling Week have gained momentum, with participation from over 160 partners across 20 countries. The campaign has successfully disseminated millions of safer gambling messages and organized numerous events to discuss best practices in player protection. These collaborative efforts have heightened awareness and fostered a culture of responsible gambling throughout Europe.
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