A recent study from BetMGM has revealed that over half of UK residents who had placed a bet or gambled in the past year view the money in their gambling accounts differently from their personal funds.
The research also stated that 19 per cent of the survey’s respondents admitted to either “usually or always” chasing their gambling losses, which the operator says shows there is a “need for greater education and awareness around gambling”.
The operator conducted the survey as part of its commitment to responsible gambling, educating the public about gambling habits and how to stay responsible while betting, and as part of Safer Gambling Week in the UK.
For its research, BetMGM surveyed over 1,000 UK people aged 18-plus who have gambled at least once in the last 12 months, asking them 10 questions about their gambling habits.
Of note, 51 per cent of the respondents stated that they viewed the funds in their gambling account differently from their personal funds, even though the money holds the same value. BetMGM said this indicates “an innate awareness” of the money’s true value.
As well as the previously mentioned 19 per cent of participants that said they usually or always chase gambling losses, 14 per cent said they don’t view their winnings as ‘real money’.
However, 92 per cent of surveyed respondents aged between 18 and 24 said they have placed a monetary restriction on their betting account to make sure they play responsibly.
46 per cent of participants said the money they won from gambling goes into their savings account, while 26 per cent used their winnings to place another bet straight away.
“The industry has come on leaps and bounds in the past decade – we know so much more about responsible gambling and everyone at BetMGM is devoted to ensuring our customers play safely,” commented Sam Behar, UK Director at BetMGM.
“We’re a huge supporter of Safer Gambling Week but it is something that is core to our business throughout the year.
“We’re delighted to see the growing use of responsible gambling with younger players throughout the UK, but there is always more that can be done. We are striving to improve and introduce new methods to help potential problem gamblers.
“To those who have admitted chasing their losses and those who view the funds in their betting accounts as different to that of their bank accounts, we implore them to see that money as having real-world value.”
BetMGM has numerous responsible gambling tools and services available for its players including human customer 24/7 support, deposit, loss, session and wagering limits, self-exclusion and ad-limiting tools and access to therapy, support groups and financial blocks.