Online Sports Wagerers In UK Risk 626 Pounds Per Second
The amount of money from online wagering by UK residents is raising more than just a few eyebrows. In a report released recently by the UK Gambling Commission, experts on the matter report that on average more than 600 pounds is wagered every second by online gamblers in the UK. And from a period beginning in October of 2016 and ending in September of 2017, just under 20 billion pounds was wagered.
Marc Etches, the CEO of the non-profit GambleAware that provides support for individuals needing help with a gambling addiction, says that the numbers released by the commission demonstrate the prevailing preference of most gamblers to now place their wagers online. Etches believes that this phenomenon is fueled by the fact that online wagering places little to no restrictions on what can be wagered or potential winnings while offering a more convenient gambling experience for customers.
Etches says that much of this added convenience is due to the fact that a customer can use credit cards and bank accounts as needed to fund or replenish gaming accounts. This fact is concerning according to GambleAware because of the ease in which users of these online gambling platforms can find themselves in financial hot water.
The GambleAware head man concludes that the number of individuals now wagering online coupled with the amount of money that many are willing to bet on sporting contests makes it more of a necessity to educate people regarding the inherent risks of gambling.
The Rise Of Self-Exclusion
The main regulatory body for gambling in the UK informed the public that the gross gambling yield seen from April in the year 2016 to March of 2017 was .7 percent which represented a yield of 13.9 pounds.
What has also been seen to be on the rise among gamblers in the United Kingdom is the choice of the self-exclusion option. This allows gamblers utilizing online wagering platforms to disqualify themselves from the placement of wagers for a period of six months or more.
The Remote Gambling Association has made this process less complicated for individuals wishing to curb their appetite for gambling by calling their attention to GAMSTOP, which is dedicated to facilitating efforts of online gamblers to avoid the negative consequences that are possible as a result of the past time by performing a personal lockout.
The regulatory gambling commission reported that more than 1.3 million self-exclusions were initiated by gamblers in the UK over a recent 12 month period representing a 50 percent increase of previous periods.