Is inflation increasing the risk of gambling addiction?

Is inflation increasing the risk of gambling addiction?

The inflation rate in Germany is expected to be 10.0% in September. It is not only energy that has become significantly more expensive recently, but also food in particular. A recently published study from Great Britain has now come to the conclusion that the sharply rising prices increase the risk of gambling addiction, especially among women.

In an article published in August this year, we tried to answer the question of whether online casino gambling is decreasing due to the gas crisis and inflation. According to a recent study, the record-breaking inflation can also have an impact on the behavior of casino players. But why is it that women in particular increase their gaming behavior when inflation is high?

One in four women increases their gambling habits when inflation is high

As part of the current study, a total of 1,600 women between the ages of 18 and 49 were asked about the current record inflation on the subject of online gambling. Around a quarter of the women surveyed stated that they would increase their own gaming behavior as a result of the high inflation. The study was conducted or published by GambleAware and is available online here.

Cushion the increased prices with casino winnings?

The hope of many participants is that their own financial situation could be improved through possible casino winnings. In fact, in the GambleAware study, 12% of women surveyed said they gamble more now than they did some time ago. The chair of the gamblers’ protection organization, Zoe Osmond, encouraged in a statement that women need to be more aware of the risks of gambling.

After all, it is of course not a good idea to try to compensate for the increased monthly costs with non-secure casino profits. In another article we have already tried to answer the question of which type of player is particularly prone to addiction.

Is there actually more gambling when inflation is higher?

The British study by GambleAware allows the conclusion that at least women play more when there is higher inflation in order to be able to cover the higher costs with any profits. However, it cannot be said in general – especially for Germany – that in the event of high inflation, as we are currently experiencing, online gambling will be pursued more intensively. To do this, the sales figures of the large gaming companies must first be awaited. We also recently reported on GambleJoe about an interview between a gambling addict and a casino owner.

Inflation rate at record level

In September 2022, the inflation rate in Germany will most likely be 10.0%. This value is measured as the change in the consumer price index (CPI) compared to the same month in the previous year. A month earlier, the inflation rate was “only” 7.9%.

According to Statista, the inflation rate in Germany has been at a worrying level for some time:

  • September 2021: 4.1%
  • December 2021: 5.1%
  • March 2022: 7.3%
  • June 2022: 7.6%
  • Sep 2022: 10.0%

Source: Statista.com

In short, inflation is the debasement of money combined with increases in prices and a significant increase in the money supply relative to output. With a high inflation rate, citizens can afford fewer goods or services for each monetary unit.

Conclusion

Prices go up and up – be it gas, electricity, groceries or services. For the month of September 2022, inflation in Germany is expected to be in double digits again for the first time in many years at 10.0%. It remains to be seen how the inflation rate will develop in the coming months.

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