Young Canadians Face Big Money Problems From Online Betting

Young Canadians are 10 times more likely to have gambling problems with online betting than with lotteries. This is a growing issue.

Young Canadians aged 18 to 29 are facing disproportionately high levels of gambling-related harms, encompassing financial, emotional, psychological, and relational damage, as online gambling escalates into a significant societal issue. Those engaging in online gambling are notably more susceptible to negative outcomes; they are approximately 10 times more likely to exceed lower-risk gambling thresholds, over 45 times more likely to meet criteria for problem gambling, and more than 20 times more likely to report substantial gambling-related harm compared to individuals who only play lotteries. This stark reality emerges from a partnership involving Greo Evidence Insights, the Canadian Centre on Substance Use and Addiction (CCSA), and Mental Health Research Canada (MHRC).

Online sports betting, in particular, is rapidly becoming a crisis, with a significant percentage of young male gamblers expressing regret over starting. The allure for youth is multifaceted, drawing them into various forms of sports betting, with those involved in sports activities showing a markedly higher propensity to gamble online. Experts caution that the current landscape presents "more pitfalls than protections for youth," leading to considerable societal costs.

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The financial implications of this trend are severe. Gambling debt can accumulate swiftly, and creditors may impose more stringent terms due to its rapid escalation. While financial institutions might see short-term gains, the impact on credit scores is detrimental, often demanding repayment within shorter, more aggressive timelines, frequently around 18 months. The perceived thrill, coupled with a sense of community fostered through online chat groups and message boards, contributes to the addictive cycle.

Online sports betting is fueling a financial crisis for young Canadians — what you need to know - 1

Efforts are underway to address this burgeoning problem. The Responsible Gambling Council, in conjunction with Zulu Alpha Kilo, has launched campaigns targeting young adults aged 18 to 35, aiming to challenge their perceptions of gambling. The core message seeks to illuminate the "illusion of control" that gambling often perpetuates, encouraging individuals to recognize the potential harms. Campaigns often use creative, attention-grabbing methods to convey risks.

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For those struggling with gambling, a network of provincial helplines offers confidential support. These services are accessible across Canada, with specific numbers for each province and territory, providing a crucial first step towards seeking help. Connecting with addiction-specialized therapists and counselors is also recommended as a vital next stage in recovery.

Background

The increasing accessibility and promotion of online gambling platforms have coincided with a surge in gambling-related harms among young Canadians. Research indicates that gambling online is substantially riskier than other forms of gambling. The Canadian Centre on Substance Use and Addiction has published reports highlighting these concerning trends, advocating for a greater awareness and action plan. The phenomenon appears to be particularly concerning for young men, with some studies suggesting nearly 40% of young male gamblers wish they had never started. The strategies to combat this issue often involve education and direct communication about the inherent risks and deceptive nature of the gambling industry.

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Frequently Asked Questions

Q: Why are young Canadians having money problems with online betting?
Young people aged 18 to 29 are getting into serious debt from online betting. They are much more likely to lose control of their money compared to people who only play lotteries.
Q: How much more likely are young people to have problems with online betting?
Those who bet online are about 10 times more likely to have gambling problems and over 45 times more likely to become addicted compared to lottery players.
Q: What are the financial dangers of online betting for young people?
Gambling debt can grow very fast. Financial companies might want money back quickly, and it can hurt a person's credit score badly.
Q: What is being done to help young Canadians with online betting problems?
New campaigns are trying to show young adults that online betting is not as safe as it seems. They want people to see the real risks involved.
Q: Where can young Canadians get help if they have problems with online betting?
There are free, private phone lines in every Canadian province and territory. Talking to therapists who help with addiction is also a good step.