Rise in silver surfers – Soaring rates of elderly online gambling linked to lockdowns – Collateral Global

Online gambling among UK pensioners has more than doubled since the Covid lockdowns were imposed with as many as forty percent now putting their pension pots at risk of big losses on virtual bets.  

Figures recently released by the Gambling Commission found a staggering 39 percent of those aged 65-74 years old surveyed said they had gambled online in the past four weeks – a rise of 124 percent since 2019. An analysis by the gambling addiction treatment experts UK Addiction Treatment Group shows the numbers of online gamblers aged 65+ were just 11.3 percent in 2016. This rose to 12.7 percent in 2019, rising again to 17.4 percent in 2020. However during the Covid pandemic the numbers spiraled and have not dropped back to pre-pandemic levels.

Experts blame part of the staggering rise on the Covid lockdown measures in when elderly people, grappling with intense isolation and loneliness were drawn in. Lockdowns also led to the closure of traditional events such as horse racing, cricket and football so more people started to engage with online platforms. During lockdowns online gambling sites boomed with operators spending heavily to market their platforms. 

Experts warn online gambling can pose some risks including the possibility of gambling addiction, bankruptcy, fraud and scams. Previous figures show over 420,000 people in the UK lose £2,000 or more in online gambling each year. According to a recent YouGov poll as many as 2.7 people in Great Britain, or 1.4 million people – are ‘problem gamblers’.

Professor Henrietta Bowden Jones, a world leading expert in gambling at University College London, warned some of those making online bets are addicted or at risk of becoming so. She said:

“Not everyone who gambles will develop a gambling disorder, but some will. Gambling disorder is an illness and if left untreated can lead to significant depression, anxiety and suicidal thoughts.”

Online gambling among older people can include participating in online lottery draws such as the National Lottery, instant win games, betting on sports and racing, bingo, casino, roulette, blackjack and poker.

Lee Fernandes, Lead Therapist at the UK Addiction Treatment Group said:

“These new figures are really concerning, because it goes without saying that those who are over the age of 65 could be at a much greater risk of being conned into using their hard earned savings to gamble online. The marketing and advertising of online gambling companies is so slick nowadays, with huge promises to ‘win big’ and ‘free bets’ that some participants might not even realise they’re actually putting their money at risk of being lost completely.”

He added:

“The rise in online gamblers at this age could also reflect a rise in loneliness in the elderly. Gambling online might help to make them feel part of a community, or they could even be risking their money in order to make even more to be able to help their grandchildren. “Whatever the reason for this rise, we would encourage anyone with someone elderly in their lives that they are experiencing the internet in as safe a way as possible and that they fully understand the risks that come with gambling online.”