Nationwide Building Society has reported a significant increase in gambling spending among its customers and is urging caution amid rising concerns about problem gambling.
Nationwide Building Society has raised concerns about the rising trend in gambling-related spending amongst its customers, noting a 9% increase in overall spending in January compared to the previous year. The data reflects an increase in gambling transactions by 7% during the same period. This trend is particularly alarming given that many major sporting events are scheduled for this year, which may further fuel gambling activities.
The building society emphasizes that while most customers manage their gambling spending responsibly, they are encouraging individuals to remain vigilant about the potential signs of problem gambling. Prominently, the society highlighted that the top 10% of spenders on gambling are withdrawing an average of £745 each month. This statistic may be indicative of a concerning pattern, especially as the organization aims to address gambling behaviors proactively.
To further understand customer behavior, Nationwide commissioned a survey involving 2,000 individuals who gamble, revealing that approximately 68% anticipate an increase in their betting activity throughout 2026 due to an active sporting calendar. In response to these trends, Nationwide and other financial institutions are looking to provide resources and options for responsible gambling, as they assist customers in navigating their finances amid the excitement of upcoming sports events.
