Credit-fuelled harmful gambling 07082024 - Flipbook - Page 2
More than a year after
we raised concerns
that harmful gambling
was increasing among
keyworkers, with clear
evidence of cases
fuelled by credit, the
picture is bleaker still
This report is based on analysis of over 200
million onancial transactions from more
than 177,000 people. Many are keyworkers
in the NHS and public sector. Their average
monthly net income 3 including beneots 3
is £2,292, which equates to an approximate
annual pre-tax income of around £34,000.
The data reveals disturbing evidence about this
cohort of working people whose salary is close
to the UK average. Those included in this study
approached a social enterprise, Salad Money,
for a loan. Because Salad uses Open Banking
to assess afordability, it is able to see and
categorise applicants9 income and expenditure
during the 12-18 months before they applied.
Between 1st January-31st March 2024,
Salad turned down 33% of applicants for
excessive gambling, compared with 29%
in the same period last year.
During the 12 months before his application to
Salad Money, this individual gambled £99,545
and
