Even low levels of gambling linked to financial hardship, study finds

[ddm]

Even low levels of gambling linked to financial hardship, study finds People who bet 3.6% of monthly outgoings were a third more likely to miss a mortgage payment

In a report thought to be the largest of its kind carried out in the UK, academics tracked the links between gambling spend and problems experienced by 6.5 million Lloyds Banking Group customers over seven years. They found that the likelihood of missing a mortgage payment, taking a payday loan or being pursued by debt collectors escalated rapidly the more someone gambled, while there were longer-term links to job loss and mortality.

Even low levels of gambling linked to financial hardship, study finds

People who bet 3.6% of monthly outgoings were a third more likely to miss a mortgage payment

www.theguardian.com

 

[JT_BeastsOfPoker]

These longer-term links are not surprising as its only logical that people who cant resist immediate satisfaction of their needs make non-optimal choices in many areas of life. A good example would be taking a loan with bad terms as mentioned by the article. This type of behavior can lead to financial stress, which literally makes you less intelligent according to research: https://www.bankruptcysoapbox.com/debt-actually-makes-stupid/

 

[ddm]

lols

 

[PROFRBcom]

Very logical conclusions there. I mean, we all know degenerate gamblers are degenerates in many other areas of life such as substance abuse, sexual promiscuity, and are generally speaking, TERRIBLE at basic math.

Sometimes I feel sorry for them, but most of the time not. The information is there to learn, the support groups are there to help, but many people just refuse to try to improve their lives and rid themselves of bad habbits.