Bank of Ireland launches debit card gambling blocks amid surge in youth betting
The rise among under demographics was helped by popular sporting events at the beginning of this year, such as Cheltenham Festival and the Six Nations. Photo: John Giles/PA Wire.
Spending on gambling has risen significantly amongst young people, with popular sporting events in the first three months of this year underpinning the rise in betting activity.
New figures released by Bank of Ireland show card spending on gambling rose by 19% amongst 18 to 25-year-olds between January and March this year, despite total spending falling marginally by 2%.
More than 70% of bets placed in the first three months of this year were placed by men, with betting activity rising the most in counties Wicklow, up 37%, Kilkenny, up 24% and Limerick, which saw gambling activity rise by 20%.
Among those over 65, betting activity fell by 8%, with the rise among under demographics helped by popular sporting events at the beginning of this year, such as Cheltenham Festival and the Six Nations.
Following the rise in gambling among young people, Bank of Ireland has introduced voluntary blocks on debit cards for customers who want to stop transacting with gambling operators.
The new card-blocking feature, which also blocks access to online casinos, slot machines and lottery websites, can be put in place following a customer request.
It stops any payments identified as being made to a gambling operator, which the lender says will improve financial wellbeing, with problem gambling impacting relationships, finances, and mental health.
The block can be requested for both personal and business debit cards and will be extended to include credit cards in the coming months, Bank of Ireland said.
“Problem gambling can have a devastating effect not just on the person involved, but also on families, friends and loved ones," said Áine McCleary, chief customer officer at Bank of Ireland.
"For those with a gambling addiction it can often seem like help is out of reach. This initiative we are launching is designed to help customers take positive steps to improve control over their finances."
Welcoming the initiative, Oisín McConville of GamblingCare.ie said: "We can see from the latest gambling spend insights that betting amongst younger people is on the rise. To combat the scourge of problem gambling, a wide range of supports is essential to prevent the issue from becoming overwhelming for those impacted."
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