While there have been a number of gambling blocks available for several years, Nationwide has hailed the launch of its own block after highlighting how much the average punter loses over a year. However, the building society is yet to announce blocks for other frowned-upon freedoms like fast food, alcohol and cigarettes – so does it really care, or is it really just PR?
Nationwide has launched a gambling block feature across its accounts after warning its customers that punters lost an average of £351 through gambling over the past year.
Revealing its research, the world’s largest building society reported that 11 percent of UK residents gamble daily, but it did not specify what percentage of those were National Lottery players. A person who plays every lottery draw in a week will spend £2, and the average player will get back 55p for every £1, so avid lottery fans will be losing more than £10 a week on the lottery, or £510 a year – driving the average loss per person up.
Despite these potential lottery losses, Nationwide says its gambling block is primarily designed to discourage impulsive betting, and will remain in place for 72 hours after deactivation, preventing any bets from being placed during this period. The building society believes this is a sufficient time frame to cover a weekend of sport.
Anti-gambling campaigners have long been calling on banks to do more to prevent gambling-related harms, but gambling blocks have been supported by the industry for even longer. However, while these blocks are promoted for use by licensed operators, black market operators often advertise the fact that they are not included in the list of blocked sites in an attempt to attract more customers. Whether Nationwide’s gambling block will work on these sites is yet to be seen. Gambling blocks can be effective, but there is always a risk that they will push players using them towards the black market operators that can circumvent the block.
Indeed, Nationwide’s latest feature is not a novel one, but it does mark yet another step towards banks encroaching on their customers financial control. It is optional, but once activated, the 72 hr cooldown period is not. There are, of course, plenty of other ways people can spend their money that could cause them harm. Cigarettes, unhealthy food, porn addiction and alcohol are considered harmful by the country’s health authorities, but banks are yet to get involved. This suggests Nationwide’s latest feature has been born more out of pandering to anti-gambling campaigners than out of concern for its customers. If banks really care, surely they would want to protect customers from all potential harms, not just one that is overly-politicised by those profiting from its continued politicisation.
