Gambling Apps Causing Untold Harm Amid Rise of ‘Pocket Casinos’

Rise of ‘Pocket Casinos’

 The rapid expansion of digital gambling has led to a surge in gambling addiction, with experts warning of severe health impacts. The global gambling industry, now valued at nearly USD 700 billion, is expected to grow even further by 2028.

A gambling commission, established by The Lancet, highlighted that the harms of gambling are more extensive than previously understood. The commission estimates that 80 million people worldwide suffer from gambling disorders, with over 400 million experiencing at least one negative effect of gambling.

Heather Wardle, co-chair of the commission from the University of Glasgow, emphasized the role of sophisticated marketing and technology in promoting gambling. “Anyone with a mobile phone now has access to what is essentially a casino in their pocket, 24 hours a day,” she said. The commission pointed out that data-driven algorithms are used to target users with more attractive content, increasing engagement.

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The global gambling industry is expanding rapidly, with a projected valuation of US$700 billion by 2028. This growth is contributing to a significant increase in gambling addiction and related issues, according to Bermama.com.

Children and adolescents are particularly vulnerable to online gambling, which often features game-like designs and the allure of easy money. Kristiana Siste from Universitas Indonesia noted the significant risks posed to younger populations.

 

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About William Johnson 330 Articles
Demystifying the world of finance is my mission. As a finance news writer with 7 years of experience, I've covered everything from breaking market news to in-depth analysis of industry trends. I'm here to keep you informed and empowered in your financial journey.

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