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Gambling Addiction – what’s the cost?
Gambling Addiction – what’s the cost?
There have been a few stories in the media recently about gambling addiction such as the story of the student who lost £5,000 in 48 hours on fixed bet gambling machines and a Government Review looking at the possibility of reducing the maximum stake for fixed-odds betting terminals.
According to the BBC report, at the moment, people can bet up to £100 every 20 seconds. That’s a staggering amount that can be gambled and lost in no time at all.
And from working with people who struggle with a gambling addiction, there is no doubt that, for some people, it’s easy to get caught up in an ever deepening and desperate spiral of debt and financial loss. My clients will often describe how they go into a sort of trance where they are fixated on the next bet, getting a high from any wins and becoming desperate to recoup any losses. And of course, whilst many use machines of head into the local bookmakers, the easy access to online gambling means that you can bet on practically anything you like twenty four hours a day.
The lure of riches, the buzz of the risk and the high of any wins all play a part. There can also be issues of stress, depression, anxiety and low self esteem that contribute too.