Nationwide records 9% jump in spending on gambling

Nationwide Building Society has said it recorded a 9% rise in the overall value of spending by customers on gambling in January, compared with the same month a year earlier.

The number of gambling-related transactions recorded by Britain’s biggest building society increased by 7% over the same period.

Nationwide said that while spending on gambling is managed well by most people, it is encouraging them to spot signs of problem gambling, with many major sporting events taking place this year.

The society said its data indicates that those who are in the top 10% of spending on gambling spend an average of £745 per month.

A survey of 2,000 people who gamble, commissioned by Nationwide, found around two-thirds (68%) expect to bet more in 2026 due to the busy sporting calendar.

Along with many other account providers, Nationwide offers customers the option to apply gambling blocks on accounts.

But its survey indicated around a fifth (19%) of people who gamble are unaware that banks and building societies offer the blocks.

Kathryn Townsend, head of customer vulnerability for Nationwide, said: “With a year of major sporting events ahead, we’re concerned that more people could find themselves gambling more than they can afford. That’s why early identification and strong safeguards matter.

“At Nationwide, we know gambling can be a very emotionally charged activity, which is why we’ve deliberately built in a 72-hour cooling-off period for our gambling block – which offers an additional layer of protection and helps people to stay in control. No one should feel they have to face gambling harm alone – help is available, without judgment, whenever they need it.”

Raminta Diliso, senior partnerships manager for the GamCare charity, said: “Gambling harm is often a very hidden issue but the problems it can cause people can be significant.

“Financial difficulties, mental health struggles and relationship challenges are all common impacts facing those who are struggling with gambling.”

The survey for Nationwide was carried out by Censuswide in February, among 2,000 people who gamble.

Here are some potential signs of gambling harm highlighted by Nationwide:

1. Someone appears withdrawn and needs to check their phone constantly as so much is riding on a bet.

2. Noticeable changes to someone’s mood and behaviour, including looking worried, agitated or upset for no apparent reason.

3. If someone is chasing losses and losing money they may have trouble sleeping. Anxiety or constant worrying can lead to people being up all hours.

4. Signs that money has gone missing from bank accounts or that someone is under pressure to borrow money.

5. Someone may be lying about what they are doing with their time or asking for money to cover bills.