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Gambling: Impact on Work, Family, and Family Finances

Gambling: Impact on Work, Family, and Family Finances. Tahira K. Hira, Ph.D., CFP, Professor, HDFS Iowa State University. Back ground. According to Volberg studies (1995, 1989) since 1989 there has been a significant and substantial increase in the prevalence of problem gambling in Iowa.

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Gambling: Impact on Work, Family, and Family Finances

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  1. Gambling: Impact on Work, Family, and Family Finances Tahira K. Hira, Ph.D., CFP, Professor, HDFS Iowa State University

  2. Back ground • According to Volberg studies (1995, 1989) • since 1989 there has been a significant and substantial increase in the prevalence of problem gambling in Iowa. • She concluded: • between 10,000 & 31,000 are currently probable pathological (compulsive) gamblers, and • 33,000 to 62,000 Iowans are “problem gamblers.”

  3. Objectives • To ascertain the use of credit cards and level of credit card debt among gamblers. • To ascertain the impact of gambling on work, family relations and family finances.

  4. Sources of Data • Quantitative: 1086 participants of CCS Des Moines educational sessions • Qualitative: Six members of gambling anonymous group in Des Moines

  5. Sociodemographic Characteristics • Female 55% • Mean Age 38 yrs. • Mean yrs. of edu. 14 yrs. • Single 54% • Mean H.H. Size 3

  6. Economic Characteristics • Employed 64% • Mean Income $24,169 • Mean # of credit cards 3 (Max = 21) • Mean credit card debt $7,082 • Had ATM cards 43% • Had consolidated loans: 55%

  7. GAMBLING STATUS • Yes = 55% • No = 45%

  8. Male/Female Gamblers:Differences by Age • 2 = p < .08

  9. Male/Female Gamblers:Differences by Marital Status • 2 = 12.87, p < .002

  10. Differences between Gamblers & Non-Gamblers • Income • No. of Credit Cards • Total Debt • No. of Consolidated Loans • Age by gender Statistically Significant Differences

  11. Mean Income • Non-Gamblers $24,875 • Gamblers $23,656

  12. Income • 2 = 21.21, p < .001

  13. Number of Credit Cards • 2 = 108.10, p < .000

  14. Mean Credit Card Debt • Non-Gamblers $ 9,961 • Gamblers $13,055

  15. Total Credit Card Debt • 2 = 170.62, p < .000

  16. Gamblers’ Debt by Age • 2 = 56.82, p < .0002 *1 = $1-1000; 2 = $1001-5000; 3 = $5001-9000; 4 = $9,001-15,000; 5 = $15,001 - 25,000; 6 = $25,001 or more

  17. Credit Card Debt Respondents without Income % Mean Debt Max. Debt Non- gamblers 3 $7,767 $32,000 Gamblers 7 $11,526 $55,000

  18. Number of Consolidated Loans • 2 = 56.82, p < .0002

  19. Number of Consolidated Loansby Age for Gamblers • 2 = 49.08, p < .000

  20. Gambling : • How does it start ? • Why do people gamble? • How does it affect: • work • personal and family life • family finances

  21. Qualitative data: • Responses from six members of gambling anonymous group • Questionnaires and personal interviews

  22. How does it start? • “I started out maybe a couple of times a week, towards the end I was gambling almost every day.” • “I started with playing for small amounts of money ($2 to $5), and it got to the point I had to go to the bank before going to play golf. I had to have more money just in case I lost.”

  23. Gambling and Finances “I generally didn't walk into Prairie Meadows with less than $3,000... I would cash advance my credit cards, it was costing me $95 to get $3,000.”

  24. Gambling Debt... • “I had about $25,000 in credit card debt, two small loans for about $6,000, I took out $1,000 from my life insurance policy, and borrowed $6,000 from my two sisters.” • “I owed $37,000 on four credit cards.”

  25. Impact of Gambling on Family Life • “it was to the point where I considered taking my life...I was worth more dead than alive...it’s then I realized I had to change...” • “family relations were destroyed irreparably, principal casualty was lack of trust...“ • “I isolated myself from everyone..” • “I ended up in divorce...”

  26. Gambling and Work • “I stole from my employer...” • “I used to call in sick, then go to the track...if I had lost a bunch of money the night before believe me I was not thinking about work that day....”

  27. Time that was spent on gambling... “When I quit gambling, I had so much time on my hands..... • I discovered the library, • I took my kids to the botanical gardens for the first time, • I do things with my wife, • I enjoy going home, • I enjoy going to work.”

  28. Conclusion... • Gambling is an important issue • It effects family well-being • economic and overall • it also influences work place • there is no argument that: • more people in Iowa are gambling, and • more people are facing problems due to gambling.

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