And one in three visits a casino at least every two months
As the UK’s largest casino opens at Westfield Stratford City today LondonlovesBusiness.com can reveal that one in six London managers spends at least £500 a month on gambling.
Our exclusive survey of 500 London mid-managers reveals that gambling is still very much a part of the capital’s social fabric. One in 14 managers visits casinos at least once a fortnight. One in three visits at least every two months.
Commenting on our findings, Liberal Democrat mayoral candidate Brian Paddick said: “Gambling addiction can cause real hardship for both individuals and their families. That £500 a month given to charity could make a real difference to those in need.
“Having said all that, as long as these people are not hurting themselves or others, they should be able to spend their money as they choose.”
Interestingly, women now gamble nearly as often as men. One in five (20.4 per cent) female managers visits a casino once a month or more, while one in four (24.6 per cent) male managers visits a casino once a month or more.
Women are slightly bigger spenders too: 17.2 per cent of women spend £500 or more per month on gambling, compared with 16.4 per cent of men.
The average spend per month is still higher for men at £286, compared with £224 for women.
The youngest London managers spend most, suggesting that visiting casinos is still a fashionable activity. The average spend on gambling for London mangers aged 18-24 is £421 a month – almost seven times more than those aged 55+, who only spend an average of £61 per month on gambling.
The under-25s frequent casinos the most too: half visit a casino at least every other month.
Commenting on our research, The Salvation Army said: “We would always encourage people, if they wish to gamble, that they must set a budget and stick to it, and when they play to take regular breaks and not to chase their losses.
“With up to 500,000 ordinary people in the UK suffering from problem gambling, no one knows how psychologically vulnerable any of us could be to developing a gambling problem.”