We’ve seen a rise in students gambling online and making investments into virtual markets and cryptocurrency as a way to increase their funds. It is a huge risk to gamble the limited funds that are available to students, therefore we strongly suggest students to avoid gambling as much as possible - it is not a viable source of funding and is more likely for students to experience even further financial difficulties which can take a long time to recover from, impacting their studies and wellbeing.
There’s a fast growing trend in students investing their finances onto online trading markets and cryptocurrency – however this is also seen as a form of gambling because there is no guarantee of yielding a return for the money invested and a risk of losing it all. Not only are students at risk of losing their money from these markets, but this is a hot spot for scammers to take advantage by misleading investors into giving them their money without them realising. There is a lot of misleading information online which is influencing investors to move their money into false accounts or ‘wallets’ online, which are actually accounts belonging to scammers. We’ve seen a huge rise in students falling victim to scams from online trading markets and cryptocurrency, losing their money as a result and becoming in financial hardship.
We want to raise awareness for students to understand that gambling or investing in virtual markets should not be accessed as a source of funding, especially if they’re experiencing financial hardship. If anyone is experiencing financial difficulties then please contact Money@CampusLife for advice and guidance.
GamCare offer support to those who struggle with gambling addiction as well as the family members or partners who are impacted by it. In addition to the concern of a rise in online gambling, there are concerns that some may find it difficult to find the privacy in seeking help or having confidential conversations while confined in their own home. However GamCare do offer an online chat facility and online treatment on their website