Does online gambling need more controls? Richard Mahan’s family would probably say so, after Richard lost £158k within 50 minutes of registering with an online gambling site and tried to kill himself when he couldn’t face up to the losses. Apparently, Richard was up £90k at one point but rather than quitting while he was ahead he kept on playing, lost his profits and then proceeded to rack up his losses of £158k by using 13 credit cards, including some belonging to his parents.
His poor parents had to call the Police in as the insurance companies wouldn’t pay out otherwise, and Richard now faces a jail term for fraud. I don’t know what’s worse – losing the money or having to shop a family member.
At his trial, the judge said:
“If £150,000 can be lost in 50 minutes under clandestine conditions in the early hours of the morning, it is an issue so great that it needs to be addressed by the wider community. It is a social issue.”
I have to agree with the judge. I’m amazed by how quickly a gambling account can be opened. Accounts can be opened instantly, without any kind of cooling-off period that used to be required for highstreet casinos. All that is needed is a credit card to open an account, which poses its own risks as most people are spending money they don’t have rather than at least spending money from debit cards where there are real funds available.
Online games are also designed to be played very quickly. In a traditional casino you could probably only play a certain amount of hands per hour as other players are involved, but not so online. A few years ago I met with one of the major online operators and they explained to me how they’d introduced very clever measures like making minimal announcements/noises when players lose so that they don’t get dispirited, but turning on all the bells and whistles for wins so that players lose track of their win ratio.
It’s a shame that we need stories like Richard’s to warn people of the dangers and potential addictiveness of online gambling, but hopefully his story and that of others like him will stop other people in their tracks before it is too late for them.
