Online Gambling is the act of placing a bet on events that are taking place or that have already happened, such as a horse race or football match. It is a popular pastime with many people and can take place on websites run by betting exchanges, traditional bookmakers and other third-party operators. It is a multi-billion pound industry and in-play betting, in particular, has become very popular and can be done whilst an event is actually taking place. This type of gambling can be used by criminals to launder money and can be a significant problem for financial services companies because of the way it facilitates large sums of money being moved around between different accounts, often with no traceable origin.
The availability of high-intensity gambling products (EGMs, mobile gaming, etc) is a major driving force in the growth of this activity. The aggressive promotion of gambling in the media and sponsorship of sporting leagues drives up uptake as well. The design features of these products are also influencing behaviour, with so-called dark nudges being particularly damaging as they are often unwitting and encourage extended use of harmful products. In addition to strict regulation of gambling products, clear health promotion messages are needed along with public education campaigns.
Compulsive online gambling can have significant and long-lasting impacts on people’s health, including financial stress, relationship breakdown, family violence, work issues and mental illness. Like other forms of addiction, it can lead to a decline in life functioning and a loss of self-esteem. It can also lead to feelings of guilt, shame and isolation. There are a number of ways to manage problem gambling, including self-exclusion from gambling platforms, using content blockers, limiting access to funds, setting limits, finding alternative activities, identifying triggers and seeking help.