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Gambling

Talk To Your Teenager About Gambling

Gambling Among Youth A Growing Concern

By Paul Barton, CFP, PFP, Financial Planner

With many new television shows today profiling high stakes poker games, and with a wide range of Internet sites promoting poker and other gaming activity, it’s no wonder gambling activity among teenagers has become increasingly popular. The social acceptance of gambling in general is masking a growing problem with teenage gambling.

Various studies in Canada, United States, Europe, Australia, and New Zealand all report an increase in both legal, and illegal gambling with today’s youth. Studies of adult gambling addicts found that in many instances, gambling behaviours began during teenage years, with some problem gamblers beginning his/her gambling habit as early as ten years old.

Approximately 80% of high school students have reported gambling for money at some point, according to a report published by McGill University. This report also outlined that among today’s youth, 8% of teenagers have serious gambling problems, and a further 15% of adolescents are at serious risk of developing troubling gambling habits.

The popularization and glamorizing of gambling have caused some teenagers to have an unrealistic understanding about gambling and the chances of success. One study found that many teenagers firmly believe they have a 50/50 chance of winning on games of chance or with lottery prizes, when in fact the odds of winning are much less likely.

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