Behaviours and Attitudes towards Gambling with Credit Cards
Behaviours and Attitudes towards Gambling with Credit Cards Prepared on behalf of the Gambling Commission October 2019 INSERT CLIENT LOGO
Background and Summary of Findings INSERT CLIENT LOGO
Reasons the Gambling Commission is interested in credit card gamblers… The Gambling Commission conducted a call for evidence on gambling with credit cards between February and May 2019. Following this, a formal consultation was published between August-November 2019. Gambling with borrowed money is a risk factor for harmful gambling because it increases the risk that people will gamble with more than they can afford 2 CV conducted at online survey with n=474 people who have used a credit card to gamble at least once in the past year. They were asked about their rationale for using the card and their awareness of charges related to using it Excerpt from the consultation • We are persuaded that there are risks of harm associated with using credit cards for online gambling and that we need to act to protect consumers. We are therefore now consulting specifically on two separate options of either banning or restricting the use of credit cards for all forms of remote gambling i. e. betting, gaming and lotteries • We would like to obtain further evidence about consumers’ motivations for using credit cards to gamble, and specific benefits of using them. The call for evidence uncovered little in this regard, but we must take account of the extent of any impact that a ban or restrictions may represent for gamblers who are not experiencing harm https: //consult. gamblingcommission. gov. uk/author/ consultation-on-gambling-with-credit-cards/ 3
Incorporating the Gambling Literacy Score § We have found the GLS classification a useful lens through which to analyse the credit card attitudes, because there is such a strong correlation between credit card gambling and a low GLS, and with heavy/frequent gambling § We will refer to this often throughout, typically contrasting the Low GLS group with the High GLS group Gambling Literacy – Positive Player Scores by key subgroups 34% 50% 23% 32% 25% 28% 60% 30% 42% 29% 36% Total 24% 52% 49% 30% 21% Credit Card Gamblers Non-Credit Card Gamblers High GLS Don't gamble / gamble less than most Medium GLS Gamble a normal amount 16% Gamble more than most Low GLS Literacy. 1. 2. 3. Below are some things that other people have said about gambling. To what extent do you agree with these? n=474, Credit Card Gamblers 4
Summary of Findings – Credit Card Gamblers 1 Credit card (CC) users tend to be highly engaged with gambling. For most it’s embedded in a frequent routine that they carry out at least monthly. Most common gambling activities for CC users are online betting/casino and bingo, as well as placing bets in person. 2 Many CC users are younger, with good incomes and full time jobs. But half have a Low Gambling Literacy Score (GLS), indicating a strong potential to encounter harm when gambling. 3 6 in 10 have borrowed money to gamble in other ways apart from CCs, rising to 75% among those with a Low GLS, highlighting some normalisation of this behaviour. 4 A quarter indicate more problematic reasons for using CCs, including not having money available, or not wanting it to appear on a bank statement. Of these, 40% claim to have felt guilty, or more worried about losing. 53% have decreased their spend or played safer odds: this audience knows their gambling could be risky, but they do it anyway. 5 Those using CCs are more likely to prioritise things that could help them manage their gambling when considering which brands to gamble with in future, also suggesting some awareness or knowledge that their own behaviour could become problematic if unchecked. 6 If CCs were no longer an option to gamble with, this would likely not lead to a mass reduction in borrowing to gamble. For those least gambling literate, just over half said they would either stop or use their own funds and 48% said they would consider other forms of borrowing in lieu of credit cards. Some of these forms could bring similar or higher risks of harm than credit card gambling. 6
Credit Card Gamblers - Profile INSERT CLIENT LOGO
Compared to non credit card gamblers, credit card gamblers are significantly more likely to… Be London (13% v 8%) / South based (35% v 29%) Be a home owner with a mortgage (31% v 21%) Be younger (18 -44) (58% v 24%) Have children in the household (43% v 30%) Be BAME (11% v 3%) Be working full time (30+ hours a week) (60% v 38%) Be heavy gamblers (a little or a lot more than most) (35% v 15%), playing bingo (38% v 25%) or any betting game (63% v 43%) Be of middle-high income (£ 50 k+) (31% v 17%) Have a Low gambling literacy score (50% v 20%) DCHILDREN. WORK. DAGE. DREGION. HOUSE. DETHNICITY. INCOME. C 1 Gambling behaviour. Literacy GLS. N=467 Credit Card Gamblers. N=560 non credit-card gamblers 8
Those using a credit card to gamble typically do so frequently § 1/3 use daily to weekly § More than 7/10 use every month § It’s far less common to use a credit card just a couple of times a year – the behaviour tends to be habitual and well embedded for those who do it 10% 33% 18% NET: 71% using every month 38% Frequently (daily to weekly) Occasionally (1 -2 times a month) Infrequently (2 -6 times a year) Very infrequently/Hardly ever (once a year) C 1 a. How frequently, if at all, have you used a credit card for gambling in the past twelve months? N=474 Credit Card Gamblers 9
CC gamblers skew to online activities, the primary activity being online betting § CC gamblers are significantly more engaged with a variety of activities, except lotteries and scratch cards. Over half are making bets online, while 1 in 3 are playing slots or casino games online. Gambling activities taken part in the last 4 weeks Betting online 35% Slots or casino games online 31% 14% Betting in person 29% 15% Bingo online 29% 14% 23% Lottery or scratchcard (in person) Games machines in person Bingo (in person) Casinos (in person) 13% 2% 17% 15% Lottery or scratchcard online Private bets with friends or family 19% 8% 4% Credit Card Gamblers 55% NB: it’s not possible to use a credit card in person so online skew is expected. One option gamblers may be using is withdrawing cash using a credit card for use in person 21% 14% 33% CC Non-CC Net: Any lottery 30% 47% Net: Any bingo 38% 25% Net: Any betting 63% 43% Average no. taking part in 2. 50 1. 60 Non-Credit Card Gamblers S 1. Which of the following, if any, have you taken part in in the last four weeks? N=1020 10
38% are spending £ 10 or less each time, but 30% spend more than £ 50 per go § Different spend observed for different audiences, with those using games machines, frequent gamblers, and Low GLS gamblers often spending high amounts Typical spend each time using a CC to gamble More 2% 4% 10% 12% 31% 38% Less 2% 30% More than £ 50 69% £ 50 or less CC Spend £ 0 - £ 101 - £ 200 Over £ 1, 000 £ 11 - £ 50 £ 201 - £ 500 High spending audiences – note that “games machines in person” refers to the people who do this, not necessarily that they use the CC to fund this specific activity 57% 47% 42% 41% 42% 53% 52% 58% 60% Games machines in person Gamble more than most Low GLS Bingo online Slots or casino games online Betting in person Under £ 50+ Low spending audiences 9% 8% 11% 15% 16% 20% 24% 25% 91% 89% 84% 82% 80% 77% 75% High GLS Don't gamble / gamble less than most 55+ Medium GLS Gamble a normal amount Women £ 51 - £ 100 £ 501 - £ 1, 000 C 2. What is/was the average amount that you typically spend/spent each time you use(d) a credit card to gamble? N=474, Credit Card Gamblers Under £ 50 Lottery/scratchcard in person online More than £ 50 11
Nearly 6/10 have borrowed money in other ways apart from CCs to fund gambling § The most common way being credit card transfers, followed by borrowing from family members or using overdrafts Other means of borrowing money to fund gambling NET: 58% have ever borrowed money in one of these ways NET = 75% for Low GLS gamblers, 28% for High GLS NET: Ever used this means of borrowing to gamble 43% 10% 22% 11% 38% 6% 9% 20% 12% 18% 11% 35% 34% 33% 32% 9% 8% 8% 8% 17% 16% 9% 9% 8% 14% 12% Using a credit card Borrowing money Using an overdraft Borrowing money Borrowing in money transfer from a family from a friend another way member One off Occasionally Frequently Using a loan C 5. We’d now like you to think about an occasion when you have borrowed money in other ways to gamble (e. g. instead of choosing a credit card). Have you used any of these forms of borrowing to fund gambling before? N=474, Credit Card Gamblers 27% 8% 13% 6% Using someone Use an illegal loan else’s debit OR credit card 12
Credit Card Gamblers – Why do they use credit cards to gamble? INSERT CLIENT LOGO
1 in 4 use credit cards due to a lack of funds or to conceal behaviour from others § While the majority claim to be using credit cards for positive reasons such as payment security or benefits, or even just out of habit, there is a core group using for problematic reasons “Never to deposit more than £ 10 and not more than once a month!” My rules for gambling on CC – Problematic User, F, 36 Reason for using credit card when gambling It's the card I signed up with 25% For added protection or payment security 25% I do all or most of my spending on credit cards 22% I earn benefits 22% 19% I didn't have cash/debit card with me 14% So it doesn't appear on a bank statement 12% I didn't have the money available Another reason NET: 54% claim to use credit cards to get rewards or protection, or habitually NET: 25% demonstrating problematic use of credit cards to gamble 4% C 3. Below are some reasons other people have said why they use a credit card when gambling (e. g. instead of choosing to use a debit card/cash). Which of these, if any, apply to you? N=474 14
Significant differences between Problematic and Reward-seeking/habitual gamblers Problematic Be younger (18 -44) (21% v 10%) I didn't have the money available in my bank account So that it doesn’t appear on my bank statement/app that someone else will see Gamble a little/lot more than most (51% v 37%) Rent from private landlord/agency (25% v 12%) Reward-seeking/habitual Have a low Gambling Literacy Score (61% v 50%) Be older (65+) (15% v 2%) For added protection (e. g. against fraud) or payment security I earn benefits when using my credit card (e. g. cashback, air miles, points) I do all or most of my spending on credit cards and gambling is no different Own home outright (39% vs 28%) Have a high Gambling Literacy Score (24% v 14%) DAGE. HOUSE. C 1 Gambling behaviour. Literacy GLS. S 1 Gambling activities in the last 4 weeks. Problematic n=117; Benefits n=254 15
Regardless of whether they are Problematic or Reward-Seeking, the majority either don’t have rules, or just tend to set a spend threshold § From the word cloud, Reward seeking/habitual CC users look slightly more conscious of spending limits than problematic CC users Open answers – do you set yourselves any rules when using credit cards? Problematic CC Users “Never deposit more than £ 20 at any one time” “I am not to exceed my spending amount which is € 500” “To not go above 50 pounds at a time” “Don't let it show as bookies on credit card” “Not to use it very often at all and only allowed at any one time to use just two times” “To pay off the card straight away and stick to a budget” C 4. Do you have any particular ‘rules’ for yourself when using a credit card for gambling? N=474, Credit Card Gamblers Reward Seeking/Habitual CC Users “Do not get carried away using it” “Don’t spend more than 100 quid a month” “I never gamble more than a few quid at a time, that's my overall rule and I always abide by it” “I have a limit on how much I'll spend each time I sign online to gamble, if I lose my money that's too bad, I have to stop until I play another day. I don't believe in 'throwing good money after bad' - if I lose I don't believe that my next gamble will win. It's time to stop. ” 16
Some have experienced the dangers of CCs, while others consider this to be normal spending Open answers – do you set yourselves any rules when using credit cards? Reward Seeking/Habitual CC Users Problematic CC Users I no longer have credit cards after getting into difficulties due to compulsive gambling. I still gamble but debit card only now and a max of £ 20 per day. In the past I spent up to £ 1000 per day on credit card funding C 4. Do you have any particular ‘rules’ for yourself when using a credit card for gambling? N=474, Credit Card Gamblers I have no problems with self control with regards gambling, so using my card gets me nice loyalty rewards just the same as popping to Tesco or any other banal activity, no additional risk. 17
Using a CC means many spend less. 1/4 say it made they feel more worried or guilty § If the gambler feels the question applies, the majority exhibit more cautious behaviour, or feel more concerned/guilty about losses NET: 42% decreased their spend or were more conscious of safety 46% Of credit card users feel their gambling behaviour and emotions don’t change when using a credit card (i. e. none of these apply to me) 46% 21% 19% Did you do anything differently when gambling with a CC? (53% for Problematic CC Users) 14% 7% I played/bet with smaller amounts of money I played safer odds/games I gambled for a I played/bet with shorter period of larger amounts of time money (40% for Problematic CC Users) I was more worried about losing 13% I felt guilty 6% I gambled for a longer period of time I played riskier odds/games And how did you feel about it? NET: 26% felt worried or guilty 16% 7% 11% It made gambling feel safer 9% 9% It made gambling feel more exciting I wasn't as worried about losing C 7. Thinking about any occasions where you have borrowed money to gamble in the past (including using credit cards), did you do anything differently, compared to when you use your own funds to play/bet? C 8. And how did you feel about the activity when using borrowed money to gamble (including using credit cards), compared to using your own funds? N=474 Credit Card Gamblers 18
But Credit Card gamblers place more importance on ways to manage their gambling § Biggest gaps in importance seen for behaviour management aspects, with “reality checks” being of particular relative importance § Free bets and bonus offers are also more important, showing this group is looking for opportunities to play Importance of factors when considering where to gamble – gap between CC and Non CC gamblers NB: Number 1 most important factor is “reputation of company for being trustworthy” – 77% GAP between CC users and Non-CC Users +20% 59% +19% 55% 39% +17% 55% 36% +16% 61% 53% 38% +16% 37% +15% How to set time- Getting help to How to exclude ID verification ‘reality checks’ outs control gambling yourself from requirements (or spotting that certain activities you might have a Credit Card Gamblers problem) A 2. Importance of factors when choosing where to gamble (T 2 B), n=474, Credit Card Gamblers; N=560 non credit-card gamblers 48% 46% How to set deposit limits +14% +10% 68% 63% 61% 45% +15% 54% Terms of use for Free bets and account bonus offers 54% 44% How to make a complaint Non-Credit Card Gamblers 19
Credit Card Gamblers – Looking ahead – potential impact of banning credit cards for gambling purposes (NB – GLS groups used in this section in order to maximise base sizes for analysis and outline the difference in attitude between these groups) INSERT CLIENT LOGO
8/10 have a knowledge gap around the cost of using a credit card to gamble § Transaction fees have stronger awareness than higher interest rates § 3/10 are unaware of both transaction fees and higher interest rates, but those with lowest awareness are at least risk of harm Awareness of fees/interest NET: 82% not fully aware of the financial implications of using credit cards (i. e. unaware of either transaction fees, interest rates or both) 17% 14% 38% Low awareness groups: 55+ = 41% High GLS = 39% Infrequent gamblers = 43% I wasn’t aware of this 31% Yes, I was aware of transaction fees Yes, I was aware of higher interest rates Yes, I was aware of both C 12. We would now like to ask you a few quick questions about transaction fees for credit card gambling. Explanation of fees and interest inserted. Were you aware of this? N=474 21
Fees/higher interest are most likely to deter those with higher literacy score § Raising awareness of CC costs could lead to a significant proportion (6/10) stopping using a credit card Would transaction fees and higher interest rates stop you using a CC to gamble? 76% Highest intent to stop among most gambling literate players 61% 55% 58% 30% 26% 25% 20% 13% Yes 14% No Total High GLS Medium GLS 10% 11% Don’t know Low GLS C 12. Would credit card transaction fees and higher rates of interest stop you from using a credit card for gambling? N=390, Unaware of some either transaction fees, interest rates, or both 22
¼ of credit card users say they will stop gambling altogether if CCs are not allowed § Majority of current players would still gamble – most popular alternative is to use own funds § Next most common option would be to do a credit card money transfer – effectively still using a credit card If it was no longer possible to gamble with a credit card, what do you think you would do? 37% NB: this is claimed future behaviour – results indicative of what people might do 10% 9% My own funds (e. g. Credit card money Borrow from a debit card, cash) transfer family member 7% Borrow from a friend C 13. Effect if not possible to gamble with credit card. N=474, Credit Card Gamblers 6% Overdraft 5% 5% 26% 5% Someone else’s Personal loan from Illegal loan (e. g. debit card (or cash) a bank or payday ‘loan shark’) loan provider 2% Borrow from someone else Not gamble 23
If CCs aren’t an option, there’s a danger that at-risk gamblers could look for riskier ways to borrow § Almost Half of Low GLS gamblers say they will still borrow money to play - remember this group accounts for 50% of CC gamblers § This means that ~a quarter of at risk of harm gamblers using credit cards could end up finding riskier ways to fund their play If it was no longer possible to gamble with a credit card, what do you think you would do? High GLS Low GLS 42% 41% NET: Borrow money: 31% Total, 48% Low GLS, 7% High GLS 33% 19% 15% 8% 3% Own funds (e. g. Someone else’s debit card, debit card (or cash) 8% 3% Overdraft 15% 8% 2% 10% 8% 2% 2% 1% 0% 0% 3% Personal loan Credit card Borrow from a Illegal loan (e. g. Borrow from a bank or money transfer family member a ‘loan shark’) friend someone else payday loan provider C 13. Effect if not possible to gamble with credit card. N=474, Credit Card Gamblers Not gamble 24
Possible implications and considerations for the Gambling Commission 1 Those using credit cards are looking to brands to help them manage their gambling behaviour. The Gambling Commission should consider how brands could best highlight to users when their gambling could be becoming problematic, to help them avoid difficult situations that might lead to further credit card (or riskier) borrowing. 2 There is rationale for raising awareness of the costs of gambling with a credit card, in particular of higher interest rates. While this is most likely to discourage the most responsible gamblers rather than those at risk, it would support the narrative around transparency, and the desire from gamblers for the brands they use to be trustworthy. 3 Any change to the regulation of credit cards for gambling could mean that CC gamblers need more support to avoid risky borrowing. There may be a behavioural change with CC gamblers getting creative about how they borrow - nearly half of low GLS CC gamblers said they would consider borrowing from other means if they could not gamble with CCs. Similarly to how brands should take a role in prompting re-evaluation of gambling behaviour, this possible legislation change could also be an opportunity to encourage gamblers to reflect on the real risks they are taking, and adopt safer practices. 25
Appendix & Follow Ups Profiling the GLS Groups INSERT CLIENT LOGO
Strong correlation with gambling literacy and credit card usage for gambling § Those with a higher gambling literacy score much less likely to be using CCs than those with a low score Frequency of credit card usage for gambling % say they’ve used this year 46% 26% 44% 69% 31% 54% 56% 74% 5% 8% 17% 15% Total 5% 8% 4% 8% 10% 5% High GLS 18% 5% 10% 25% Never Very infrequently/Hardly ever (once a year) Infrequently (2 -6 times a year) Occasionally (1 -2 times a month) 29% Frequently (daily to weekly) 12% Medium GLS Low GLS C 1 a. How frequently, if at all, have you used a credit card for gambling in the past twelve months? N=1027 people in GB who have gambled in the past 4 weeks. n=363 High GLS, n=314 Med GLS, n=350 Low GLS 27
Those who use credit cards to gamble, and who have a low literacy score, tend to take part in a higher number of gambling activities Gambling activities taken part in the last 4 weeks Total CC Medium High GLS Low GLS Users GLS 69% 63% 59% Average number taken part in 59% 55% 56% 52% 40% 38% 39% 31% 41% 37% 34% 33% 31% 30% 29% 28% 30% Net: Any lottery 2. 4 2. 8 39% 22% 20% 15% Net: Any Bingo 2. 1 46% 22% Net: Any betting 2. 5 Betting online Slots or casino games online Bingo online Total 31% 26% 25% 23% 22% 21% 19% 18% 17% 17% 15% 15% 14% 12% 11%9% 10% 7% Betting in Lottery or Games Bingo (in Any lottery Casinos (in Private bets person scratchcard machines in person) or person) with friends (in person) person scratchcard or family online High GLS Medium GLS Low GLS S 1. Which of the following, if any, have you taken part in in the last four weeks? N= 474 CC gamblers, n=96 High GLS, n=137 Med GLS, n=241 Low GLS 28
The amount spent on CCs increases, the lower the gambling literacy score § More than half of those with a low GLS spend more than £ 50 each time they use a CC to gamble Typical spend each time using a CC to gamble More 2% 4% 10% 12% 2% 2% 5% 30% 1% 1% 4% 9% 1% 3% 1% 4% 7% 26% More than £ 50 16% 38% 31% 38% Less 69% 65% £ 11 - £ 50 £ 201 - £ 500 91% 9% Under £ 50 Over £ 50 84% 15% Under £ 50 Over £ 50 29% 52% 47% 46% 23% £ 50 or less CC Spend £ 0 - £ 101 - £ 200 Over £ 1, 000 Under £ 50 Over £ 50 17% High GLS £ 51 - £ 100 £ 501 - £ 1, 000 £ 0 - £ 10 £ 11 - £ 50 Medium GLS £ 51 - £ 100 £ 101 - £ 200 £ 201 - £ 500 Low GLS £ 501 - £ 1, 000 C 2. What is/was the average amount that you typically spend/spent each time you use(d) a credit card to gamble? N= 474 CC gamblers, n=96 High GLS, n=137 Med GLS, n=241 Low GLS Over £ 1, 000 29
1 in 4 use credit cards due to a lack of funds or to conceal behaviour from others § While the majority claim to be using credit cards for positive reasons such as payment security or benefits, or even just out of habit, there is a core group using for problematic reasons Reason for using credit card when gambling 64% 54% Total High GLS Medium GLS Low GLS 54% 49% 30% 25% 22% 16% Net: Rewardseeking Net: Problematic 32% 25% 28%26% 27% 25% 23%24% 22% 21% 19% 21%20% 19%18% 19% 17% 14% 12% 13%13% 10%9% 8% For added protection It's the card I I do all or most of I earn benefits I didn't have So that it doesn't I didn't have the signed up with my spending on when using my cash/debit card appear on a bank money available and I haven't credit cards credit card with me statement / app in my bank changed it that someone account else will see C 3. Below are some reasons other people have said why they use a credit card when gambling (e. g. instead of choosing to use a debit card/cash). Which of these, if any, apply to you? N= 474 CC gamblers, n=96 High GLS, n=137 Med GLS, n=241 Low GLS 30
Nearly 6/10 have borrowed money in other ways apart from CCs to fund gambling § The most common way being credit card transfers, followed by borrowing from family members or using overdrafts % EVER used this means of borrowing money to fund gambling NET: 58% have ever borrowed money in one of these ways NET = 75% for Low GLS gamblers, 28% for High GLS Total 60% 43% 34% 14% Using a credit card money transfer 38% Using an overdraft 23% 10% Borrowing money from a family member Low GLS 53% 36% 28% 10% Medium GLS 57% 56% 38% High GLS 9% Borrowing money from a friend 51% 32% 50% 32% 20% 17% 8% Using a loan 7% 43% 26% 13% 3% Using someone else’s Use an illegal loan debit OR credit card C 5. We’d now like you to think about an occasion when you have borrowed money in other ways to gamble (e. g. instead of choosing a credit card). Have you used any of these forms of borrowing to fund gambling before? N= 474 CC gamblers, n=96 High GLS, n=137 Med GLS, n=241 Low GLS 31
Using a CC means many spend less, and play safer odds § The majority exhibit more cautious behaviour, or feel more concerned/guilty about losses 21% 25% 19% 9% Did you do anything differently when gambling with a CC? 26% 18% 17% 14% 7% 11% 12% 9% 7% 7% 1% I played/bet with smaller amounts of money I played safer odds/games I gambled for a shorter period of time 20% 16% 13% 12% 9% 3% I was more worried about losing I felt guilty 2% 1% 10% 6% 3% 1% I gambled for a longer I played/bet with larger period of time amounts of money 1% I played riskier odds/games And how did you feel about it? 18% 13% 11% 9% 4% 4% It made gambling feel safer 4% 6% I wasn't as worried about losing 13% 9% 7% 2% It made gambling feel more exciting C 7. Thinking about any occasions where you have borrowed money to gamble in the past (including using credit cards), did you do anything differently, compared to when you use your own funds to play/bet? C 8. And how did you feel about the activity when using borrowed money to gamble (including using credit cards), compared to using your own funds? N= 474 CC gamblers, n=96 High GLS, n=137 Med GLS, n=241 Low GLS 32
8/10 have a knowledge gap around the cost of using a credit card to gamble § Siloed awareness among those with a Low gambling literacy score – more likely to be aware of one or the other (transaction fees or interest rates) but not both Awareness of fees/interest Total 83% not fully aware 17% 14% 38% High GLS 76% not fully aware Medium GLS 82% not fully aware Low GLS 87% not fully aware I wasn’t aware of this 31% Yes, I was aware of transaction fees Yes, I was aware of higher interest rates Yes, I was aware of both 24% 4% 39% 33% C 12. We would now like to ask you a few quick questions about transaction fees for credit card gambling. Explanation of fees and interest inserted. Were you aware of this? N= 474 CC gamblers, n=96 High GLS, n=137 Med GLS, n=241 Low GLS 18% 38% 12% 32% 13% 24% 19% 43% 33
If CCs aren’t an option, there’s a danger that at-risk gamblers could look for riskier ways to borrow. Only 1/5 say they will stop gambling § Almost Half of Low GLS gamblers say they will still borrow money to play - remember this group accounts for 50% of CC gamblers If it was no longer possible to gamble with a credit card, what do you think you would do? High GLS Medium GLS Low GLS 42% 41% NET: Borrow money: 48% Low GLS, 7% High GLS 33% 28% 19% 15% 8% 3% 1% Own funds (e. g. Someone else’s debit card, debit card (or cash) 8% 3% 3% Overdraft 15% 8% 2% 2% 2% 5% 2% 10% 8% 5% 1% 0% 6% 0% 0% 1% 3% Personal loan Credit card Borrow from a Illegal loan (e. g. Borrow from a bank or money transfer family member a ‘loan shark’) friend someone else payday loan provider C 13. Effect if not possible to gamble with credit card. N= 474 CC gamblers, n=96 High GLS, n=137 Med GLS, n=241 Low GLS Not gamble 34
If CCs were banned for gambling purposes, the majority of those who might turn to illegal loans instead have used them to gamble with before § This action would not be likely to bring in large numbers of new users of illegal loans – those turning to them have typically used before, and this is one of many routes they might go down to obtain gambling funds, as they are a particularly vulnerable group Profile of illegal loan users (ever used) Indicates problematic gambling behaviour • Low gambling literacy score: 84% Low vs. 34% total • Use credit cards to gamble for problematic reasons i. e. not having cash available, D wanting to conceal activity: 41% vs. 25% • Younger: 82% under 44 (vs. 40% total) • Frequent gamblers – 65% self-report as gambling more than most (vs. 24% total) • Average of 2. 9 gambling activities in past 4 weeks (vs. 2. 0 total) If it was no longer possible to gamble with a credit card, what do you think you would do? Not gamble Use a credit card money transfer Borrow from a family member Borrow from a friend Use an overdraft Use an illegal loan Use a personal loan Gamble with someone else’s debit card (or cash) Borrow from someone else Don’t know Total 26% 5% 5% 10% 9% 41% 34% 23% 5% 7% 15% 4% D 6% 10% 4% 5% 14% 1% 5% 14% 2% 2% 3% 2% 11% 7% 12% Previously used an illegal loan C 13. Effect if not possible to gamble with credit card. N=474, Credit Card Gamblers, Ever used an illegal loan N=127, Never used an illegal loan N=347 37% 25% Gamble with my own funds 22% Never used an illegal loan 35
Thank You Jessica. Boize@2 cv. com Camille. Damsleth@2 cv. com INSERT CLIENT LOGO
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