Latest News
New research shows students are borrowing money to gamble
More than one in three university students who gamble are borrowing money to do so, new research has revealed.
A survey of 2,000 students across the UK found that 80% of them have gambled and 41% of this group admit that gambling has had a negative impact on their university experience, including missing lectures, assignment deadlines and social activities.
More than one third (35%) are using money either from their student loan, overdraft, have borrowed from friends or are taking out payday loans to help fund their gambling. Nearly one in five (19%) admit to using their student loan to gamble.
The independent research, conducted by Censuswide, was jointly commissioned by GAMSTOP, the national online self-exclusion scheme, and The Young Gamers and Gamblers Education Trust (YGAM), a charity that educates and safeguards vulnerable people against gaming and gambling-related harms.
The mean gambling spend for students is £31.52 per week and almost one in five (18%) admit to spending more than £50 per week, although 45% say they spend no more than £10 a week. Nearly four in ten (38%) say they gamble at least once a week, with 63% gambling at least once a month.
More than one in four (28%) say they are gambling as often, or more often, than before the pandemic and 29% say they are spending as much or more than they did before the pandemic. The most popular gambling products during the pandemic have been the National Lottery (32%), online sports betting (25%) and online bingo (18%).
Almost half the students who gamble (46%) say that making money is a motivation – the most common reason given – and one in four (25%) say they enjoy the risk. More than half (52%) say that gambling makes them feel excited and one in three (33%) say it makes them happy, compared to one in five (21%) who describe feeling anxious.
Amongst students who gamble, more than one in three (36%) have invested in cryptocurrency in the last 12 months – compared to just 17% of students who do not gamble.
Students also revealed that their friends are the biggest influence on their gambling (34%) with nearly one in four (23%) most influenced by social media and 14% of students identifying gambling advertising as a key influence on their gambling.
The new research on student gambling is the first published since the pandemic and follows previous research commissioned by YGAM in 2019. The previous report produced by Red Brick Research found that 264,000 students in the UK were at some risk from gambling harm with around 88,000 already defined as problem gamblers.
Following the publication of the report, YGAM are joining forces with GAMSTOP and RecoverMe, an app that provides self-help tools to those suffering from a gambling problem, to launch a campaign raising awareness of gambling harms amongst students and promoting support available to students who may be struggling. During the ‘Gambling Support University Tour’ the three organisations will visit university campuses throughout the UK to speak to students and university staff. YGAM will also be offering City & Guilds assured training to the university teams to better equip them to support their students. A ‘Gambling Support University Tour’ visit can be arranged by contacting [email protected]
Bray Ash, 29, is studying mental health nursing at King’s College London, having previously studied at Leeds University and has experienced gambling harms first-hand while in higher education. He told how easy it was to get caught up in gambling.
“When you go to university for the first time and you have student finance, money from your parents and other financial support you can be tempted to gamble recklessly. It took over my life – I wasn’t studying, I was just sitting in my halls gambling. At my second year of university, I ended up gambling away my student loan in the first 24 hours.
“It is important that students have access to organisations, such as YGAM, to educate them about gambling and provide support and that they are aware of essential tools such as self-exclusion if they are experiencing problems with their gambling. I know that it would have benefited me when I was at my lowest point”.
Daniel Bliss, Director of External Affairs at YGAM, said: “This research provides us with some valuable insights into the behaviours of students during the pandemic. We’re keen to build on this piece of work to better understand how our programmes can safeguard and support students. The findings reiterate the importance of educating our young people on the risks and harms associated with gambling. Education is a powerful tool to ensure students are equipped with the knowledge and understanding to help prevent harm.”
Fiona Palmer, CEO of GAMSTOP, said: “Gambling-related harm on our campuses is a subject that is rarely addressed, but for any students experiencing problems with their gambling, self-exclusion can give them valuable breathing space whilst they seek additional help. With online gambling increasingly prevalent during the pandemic, the research shows the importance of raising awareness of a free online self-exclusion service, which is accessible to all”.
Adil Nayeem, Co-founder of RecoverMe, said: “This research highlights how the student population can be a high-risk group for gambling-related harm. We created RecoverMe when one of our close friends at university struggled with a gambling addiction and did not know where to turn. RecoverMe gives students multiple strategies to manage acute urges and support those suffering from a gambling problem with a discreet, flexible and evidence-based programme”.
CEO of Expanse Studios
Expanse Studios (GMGI) Enters the U.S. Sweepstakes Market
North American Expansion Kicks Off Through Strategic Partnership with Moozi
Golden Matrix Group’s game development division, Expanse Studios, has officially entered the U.S. sweepstakes market, marking a significant milestone in its North American growth strategy. This move is powered by a strategic content partnership with Moozi, one of the most dynamic sweepstakes social casino platforms in the region.
With Moozi now featuring over 50 of Expanse Studios’ top-performing games—including immersive slots, crash games, and table games—this partnership positions GMGI to capture a share of the $5.6 billion U.S. sweepstakes market, projected to more than double to $11 billion by 2025 (Eilers).
Damjan Stamenkovic, CEO of Expanse Studios, commented:
“This partnership signifies our formal entry into the U.S. market, showcasing the innovation and player-first experiences that define Expanse Studios. Collaborating with Moozi enables us to deliver advanced gaming content to a growing audience in North America, a key region for our global growth.”
James Anderson, Moozi’s CCO, added:
“Expanse Studios has set a high bar for engaging and innovative gaming experiences. Their addition to our platform elevates Moozi’s offerings and strengthens our mission to lead the U.S. sweepstakes social casino space.”
This launch underscores Expanse Studios’ commitment to innovation and its long-term growth trajectory in regulated markets. By entering the North American sweepstakes market, Expanse Studios takes a bold step in expanding its footprint while delivering cutting-edge gaming experiences.
Latest News
GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline
GamCare’s National Gambling Helpline received a record 55,228 calls and online chats from people experiencing gambling harm in 2023-24 – a 25% increase from the previous year – according to the charity’s Annual Report.
In a year marked by uncertainty over the future shape and structure of the gambling harms treatment sector following the previous government’s white paper on gambling reform, the charity continued to prioritise those at-risk of, or currently experiencing, gambling harm.
Of all calls and online chats that were responded to on GamCare’s Helpline in 2023/24, 41,070 (74%) were classed as supportive interventions. This includes supporting people with initial guidance and advice as well as delivering a seamless entry point into structured treatment services, with individuals completing treatment reporting a significant reduction in gambling-related distress and financial harm.
In March 2024, the Office for Health Improvement and Disparities published an assessment of the gambling treatment system, highlighting that 57% of individuals engaging in treatment were referred by the National Gambling Helpline. This underscores the Helpline’s critical role in connecting people to the support they need. Over 9,100 free treatment sessions were delivered in the year to April 2024, with an average of just 2.1 days’ wait from point of referral.
GamCare’s targeted programmes aimed at young people, women, and the criminal justice system provided training on how to spot the signs of harms and where to signpost into support for 10,344 professionals, and education for 53,324 young people, children and parents. The Women’s Programme, in partnership with organisations such as Refuge, trained 3,813 professionals to recognise and address gambling-related harm among women.
Margot Daly, Executive Chair of GamCare’s Board, says: “Throughout a challenging year and with heightened demand for our services, GamCare’s staff have got on with the job of preventing harm where possible and treating harm where necessary. While we expect important changes in the gambling harms landscape, we have been determined not to let this uncertainty affect our relentless focus on the people who really matter – those at-risk of or currently experiencing gambling harms.
“I would like to thank and pay tribute to our frontline staff who provide 24/7 support for all those at risk or in distress. I also want to thank GamCare’s senior executive team who have steered GamCare through a period of sustained change, and to my fellow trustees for their guidance, unwavering support and the time each has dedicated to ensuring that the charity stays on course and on mission.
“As we look ahead to how the future of the gambling harms sector is shaped, we are committed to working proactively with the NHS and other partners and commissioners to ensure that people are continually able to receive the right support at the right time.”
The post GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline appeared first on European Gaming Industry News.
Latest News
Kambi Group plc repurchase of shares during 18 December – 23 December 2024
Kambi Group plc (“Kambi”) has during the period 18 December to 23 December 2024 (the “Buyback Period”) repurchased a total of 40,000 ordinary B shares (ISIN: MT0000780107) as part of the share buyback programme, within the mandate approved at the Extraordinary General Meeting on 20 June 2024 (the “Programme”).
The objective of the Programme is to achieve added value for Kambi´s shareholders and to give the Board increased flexibility with Kambi´s capital structure by reducing the capital. The Programme is being carried out in accordance with the Maltese Companies Act, EU Market Abuse Regulation No 596/2014 (“MAR”) and other applicable rules.
During the Buyback Period, Kambi repurchased a total of 40,000 ordinary B shares at a volume-weighted average price of 99.13 SEK. From the beginning of the Programme, which started on 6 November, until and including 23 December 2024, Kambi has repurchased a total of 344,000 ordinary B shares at a volume-weighted average price of 104.94 SEK per share.
During the Buyback Period, Kambi has repurchased shares as follows:
Date | Aggregated daily volume (number of ordinary B shares) |
Weighted average share price per day (SEK) |
Total daily transaction value (SEK) |
18 December 2024 | 10,000 | 100.00 | 999,967 |
19 December 2024 | 10,000 | 99.39 | 993,929 |
20 December 2024 | 10,000 | 98.86 | 988,588 |
23 December 2024 | 10,000 | 98.26 | 982,562 |
All acquisitions have been carried out on Nasdaq First North Growth Market in Stockholm by Carnegie Investment Bank AB on behalf of Kambi. Following the acquisitions and as of 23 December 2024, Kambi’s holding of its own shares amounted to 344,000 and the total number of issued shares in Kambi is 29,903,619 ordinary B shares. Under the Programme Kambi is authorised to repurchase a maximum of 3,127,830 ordinary B shares, up to a maximum amount of €12.0 million.
A full breakdown of all transactions carried out during the Buyback Period is attached to this announcement.
Information on the Programme is available on Kambi’s website, https://www.kambi.com/investors/share-information/
The post Kambi Group plc repurchase of shares during 18 December – 23 December 2024 appeared first on European Gaming Industry News.
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