Crypto Investments Decline Among United Kingdom Students As Gambling Concerns Rise

The fourth edition of the Annual Student Gambling Survey has shed light on student gambling habits in the United Kingdom.

Commissioned by Ygam and GAMSTOP, the survey found that students who gamble are four times more likely to suffer gambling-adjacent harms compared to the general population.

The study did not examine crypto betting but asked students if they had invested in digital currencies over the last twelve months.

How Gambling Is Impacting Student Finances in the UK

2,000 students from across the United Kingdom universities participated, with the sample boasting diverse ethnic representation and a higher proportion of 18-24 year olds than the typical national profile. The aim of the survey was to profile student gambling behaviors, their impact on student financial life, and awareness of support services for gambling-related harms.

49 percent of students that were surveyed reported gambling in 2024, which was a marked decrease from the 60 percent in 2023. Gambling was more prevalent among males surveyed, with 56 percent of men admitting gambling and 44 percent of females. There were disparities found between ethnicities, with Asian students having the lowest participation rates but the highest rates of gambling harm among those who gambled.

The mean weekly gambling spend amongst those who wagered was £27.24, with males spending proportionately more than females (33.14 vs £19.85 per week). It was often found to cause financial distress. One in ten student gamblers struggled to pay for food, with 7 percent having trouble with rent or bills and 6 percent applying for hardship loans. When compared to the National Student Money Survey, the results showed that the one in ten gamblers that spend between £51 and £100 per week on gambling would spend more than their average weekly food shop.

Source of funds showed that 48 percent of student gamblers used salary or earnings, with 29 percent delving into savings and 17 percent using their student loans for gambling.

YGam and GAMSTOP’s survey leans on the much-maligned Problem Gambling Severity Index (PGSI). 29 percent of gamblers fell into the ‘moderate risk’ category, with 17 percent in the problem gambling bracket. This was a decrease from 21 percent in 2023.

Gambling was also found to be having a significant impact on students’ university life. 11 percent reported missed social activities due to spending time gambling. Academically, 9 percent reported gambling harming grades and 8 percent said they had missed lectures due to gambling.

What’s Influencing Gambling In Students Across the United Kingdom?

Peer pressure was a driving force behind gambling, with 32 percent stating that friends were a reason they gambled, and 25 percent attributing influence from social media. 45 percent said they gambled to make money, with 23 percent for the thrill and just 7 percent as a form of escapism.

82 percent of those surveyed played video games, and 66 percent had purchased loot box equivalents. Just over half of those surveyed viewed loot boxes as a form of gambling, and those that didn’t suggested that education on gambling-like elements in video games was necessary.

When looking at problem gambling support services, over half of gamblers were aware of the services, but nearly two thirds of those were not confident regarding accessing them. 35 percent lacked confidence in getting help due to perceived social and societal stigma and accessibility issues.

Looking specifically at cryptocurrency, investment in digital currencies decreased significantly from 32 percent of those surveyed in 2023 to just 22 percent in 2022. When breaking it down by gender, males were twice as likely to invest in crypto than females. The decline may be due to the decrease in popularity of NFTs.