Saving and investing news
Brits in gambling denial
22 February, 2007
According to a recent survey, Britain is a nation of ‘misled gamblers’ with half of all regular lottery players refusing to accept that this is indeed the case
The National Lottery has been around for years, with three out of four people playing it at one time or another, however 60 per cent of those who buy a ticket every week are adamant that they aren’t gamblers.
Where a rollover is concerned, another 10 per cent of adults will happily spend £1 on a line of six numbers, yet they still remain convinced that this isn’t gambling.
Premium bonds are owned by around half of the population and normally account for a fair bit more money than the average lottery ticket, although they aren’t as popular as the lottery and there aren’t as many people who religiously set out to buy them on a regular basis.
David Kuo, head of personal finance at Fool.co.uk believes that most Brits have some strange notions about what constitutes gambling, commenting: “The Government needs to heed the call by eight out of ten people to include the risks of gambling in the school curriculum – this is vitally important as they have backed plans for the first UK super casino.”
As far as Premium bonds are concerned, he adds: “In some instances luck may help, but the vast majority of Bond holders, especially basic-rate tax payers, will be badly disappointed – they are forfeiting better rates elsewhere in the hope that luck may protect their savings from the ravages of inflation.”
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