Nationwide said many of its members have lost out on money
Nationwide has shared that members will now be able to block their own accounts, for a minimum of 72 hours. It comes after the building society’s own research uncovered concerning gambling habits.
A recent Nationwide survey found that 11% of respondents gamble daily, and within the past year, 4% of regular gamblers have lost over £1,000 in a single bet. On average, those who gamble lost out on £351 each in the last twelve months.
Alarmingly, some 20% admitted they would not seek help even if they recognised their gambling as problematic. To help tackle this issue, Nationwide is introducing a gambling block that, once activated, cannot be turned off for at least 72 hours, ensuring no bets can be placed during that time.
Nationwide said this time period is long enough to cover a weekend of sports. Kathryn Townsend, Nationwide’s head of customer vulnerability, said: “It’s heartbreaking that one in five people wouldn’t go to anyone for help if their gambling became a problem.
“People need to know support is available, without judgement, should they need it. We made a conscious decision to offer a gambling block with a 72-hour cooling off period to support customers making decisions that are right for them.”
