A recent UK gambling study has indicated there’s been a betting boom amongst the over 65’s in the UK – with more and more pensioners turning to online wagering and casino games to pass the time.
Gambling Charities Call For Increased Monitoring For Over 65’s Betting Habits
It’s come to light in a recent study that OAP betting is on the up, which has led to some gambling charities flagging that better safeguarding needs to be implemented with the over-65’s age groups.
The report by Glasgow University showcased that just under one in three adults aged 65+ place bets on the lottery, online, bingo and sports betting – with some experts saying there should be procedures to ask retirement age UK residents about their gambling habits when then are first allowed to access their pension funds.
This is backed up with the study also revealing a marked increase in gambling from adults aged 55+ – which is the age people can first get their hands on pension pots in the UK.
Further analysis also identified over 65’s were now betting more frequently – with over half saying they wager with online casino games, bingo or on sports betting – like football and horse racing betting.
These researchers involved in the study have now suggested that UK pensioners that hit retirement age should have to be asked a serious of gambling habit related questions.
Betting firms and all forms of gambling outlets – including in the lottery and bingo sectors in the UK – are encouraged to provide clear warnings and signposting to organisations like the National Gambling Helpline. Plus, also offer educational methods and resources on financial protection.
Figures Show A 124% Increase On 65-74 Year-Olds Betting Online
Further figures released by the Gambling Commission showcased a huge 39% of people aged between 65-74 in the survey had admitted to gambling online over the past four weeks. This was a massive 124% increase on a similar report issued in 2019.
With some of the older generation being lured to join online platforms with lucrative casino bonuses and welcome offers.
Dr Blair Biggar, who was involved in the research said: “While we often discuss how major life transitions, such as leaving home or starting work, can influence gambling behaviour, retirement is another key moment of change that has been largely overlooked.”
“As individuals adapt to changing financial situations and lifestyle transitions, some may engage in gambling for various reasons, such as maintaining routine amid boredom or coping with the adjustments of retirement.”
“This study underscores the importance of understanding these risks and implementing safeguards to support older adults.”
With chief business officer Lisa Picardo at PensionBee adding on this UK gambling news.
“Gambling harms are often associated with younger people, but this research brings attention to the issue faced by retirees.”
“Screening questions and accessible support pathways are measures that could play a role in raising awareness of gambling-related challenges. By exploring these approaches, the industry may be able to better support individuals in making informed financial decisions and improve their financial well-being in later life.”
With key gambling awareness platform GamCare also adding that if older people do get into financial issues through gambling – they would have limited opportunities to repay any debuts at this latter stage of life.
However, despite the concerns some areas – including the Open Rights Group said that asking people on the cusp of retirement age about their gambling habits is intrusive and could be harmful if any findings were disclosed later which could harm credit ratings.
Why Has There Been An Increase In UK Online Gambling In The Over 65’s?
Many reasons are being attributed to the rise in betting for pensioners – including the older generation being more tech savvy online.
While with some pensioners being less mobile, then the appeal of being able to bet on the bingo, UK online casino games – like poker and roulette – and sports betting in the comfort of your own home is another big draw.
Plus, of course, the older generation – with no time constraints of having to work – have more spare space in their daily schedules.
Covid and the lockdown periods in 2020 and 2021 are also thought to have been a big factor in the rise in gambling in the over 65’s – which saw the high-street betting shops shut down and force older betting fans online.
Andy is an experienced betting and gambling journalist with over 20 years industry experience. He brings an excellent knowledge of the world of sports betting and industry gambling news but is mainly regarded as horse racing expert within the betting world.
