the average gambler in treatment in hong kong owes how much in debts

Are You a problem gamblers in Hong Kong?

Home to a wide variety of gambling options from horse racing to casinos, Hong Kong also hosts its fair share of problem gamblers. What starts as a seemingly harmless pastime can for many become a destructive pattern of compulsive gambling and eventually, gambling addiction.

How much do gamblers go into debt because of gambling?

What might be news is that as many as 23 million Americans go into debt because of gambling and the average loss is estimated to be around $55,000. So how do gamblers pay for their losses?

What are the penalties for illegal gambling in Hong Kong?

Those who accept bets illegally face a maximum penalty of HK$5 million and up to seven years’ jail, while illegal gamblers can be fined up to HK$30,000 and jailed for up to nine months. In Hong Kong, illegal gambling is mostly run by triads or organised crime syndicates that rake in estimated annual profits of HK$12.5 billion.

How much money does Hong Kong make from horse racing gambling?

In 2009, Hong Kong generated an average US$12.7 million in gambling turnover per race 6 times larger than its closest rival France at US$2 million while the United States only generated $250,000.

What is the average gambling debt?

And the bills pill up, accordingly. The average debt generated by a man addicted to gambling is between $55,000 and $90,000. Women gamblers average $15,000 of debt. In extreme cases, problem gambling can result in serious legal problems or financial ruin.

What is the average debt incurred by a male pathological gambler?

between $55,000 and $90,000The average debt incurred by a male pathological gambler in the U.S. is between $55,000 and $90,000. The average rate of Norce for problem gamblers is nearly double that of non-gamblers. One in five pathological gamblers will attempt to commit suicide.

How much does the average gambler spend per year?

Among respondents who gamble (and reported their annual income), adults between the ages of 55 and 73 spend $2,913 per year, on average. Younger baby boomers (ages 55 to 64) spend more than their older counterparts ($3,900 vs. $1,212, on average, respectively).

What percentage of gamblers are in debt?

Studies assessing gambling-related bankruptcy among problem and disordered gamblers generally report rates between 5–22% [41, 42, 43, 44, 45].

How do people get gambling debt?

Gambling debt may be from using your credit cards to gamble, or from running them up to pay expenses as you spend more on gambling than you can afford.

How much does the average person lose in a casino?

The survey found that callers lost an average of $115,000 over their lifetime. The average current debt due to gambling is $17,000. Mr. Steinberg said most cited casino gambling and lottery games as the sources of their losses, with 49 percent saying they had a problem with slot machines.

What percentage of gamblers lose money?

Eighty-nine percent of gamblers lost money in a study of 4,222 anonymous users of one online gambling network in Europe that includes games of chance like roulette, blackjack, and slots. In the small set of winners, few won more than $150. Among the heaviest gamblers, 95% lost money.

Which country gambles the most?

However, America is not the world's biggest gambler as many would think. In fact, the biggest gamblers in the world include countries that are least suspect....Countries That Gamble The Most.RankCountryGaming Losses Per Adult1Australia$1,288.002Singapore$1,174.003Ireland$588.004Canada$568.006 more rows

What are the costs of gambling to society?

The social costs of gambling fall into nine groups: crime costs, business and employ- ment costs, bankruptcy, suicide, illness related to pathological gambling, social service costs, direct regulatory costs, family costs, and abused dollars.

Where do gamblers get money from?

They include state lotteries, scratch games, casinos, bingo, video poker, slot machines, video keno, sports wagering, pari-mutuel betting on horses and greyhounds, and back-room poker games. Some problem gambling experts even consider investing as a form of gambling. Gambling outlets also have mushroomed.

How does gambling affect finances?

To the extent that pathological gambling contributes to bankruptcy and bad debts, these increase the cost of credit throughout the economy. We use the term "costs" to include the negative consequences of pathological gambling for gamblers, their immediate social environments, and the larger community.

How Does gambling cause financial problems?

Financial hardship due to problem gambling has detrimental effects in many areas; it can impact on relationships, social life, employment, and can lead to poor mental health. Problem gambling may eventually lead to homelessness, loss of assets if debts cant be paid, or Bankruptcy.

Overview

Legality

The government of Hong Kong restricts organized gambling to a few regulated outlets. The government enacted the Gambling Ordinance in 1977 to rein in excessive gambling while still providing gambling to the populace. Gambling involving a bookmaker is illegal in Hong Kong. Betting with a bookmaker and betting in a place other than a gambling establishment is illegal. The Hong Kong Jockey Club holds a government-granted monopoly on horse races, football ma…

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