My gambling, as is the case with all compulsive gamblers, began with a few bets on the weekend with very low sums of money. As time progressed, the frequency of the bets got higher along with the amounts. Gambling has a way of sucking you in. All the stories I have heard are similar to mine in their pattern. SpunOut.ie is looking for young people aged 16-25 to share your stories about gambling. Gambling is a popular pastime in Ireland, among people of all ages. What many people don’t realise is that something that may seem like a bit of fun can become harmful, and it’s important to understand what problem gambling is and how to identify it.
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Ireland is home to an estimated 30,000 to 40,000 problem gamblers. Experts say the situation has been worsened in recent years, due to the spread of online and app-based gaming - particularly among. Gambling is a BILLION dollar industry. In America, gambling has become a $40 billion dollar a year industry. Las Vegas alone brings in close to 10 billion dollars a year from people gambling at their casinos and placing bets. Just remember, whatever course of action you take - You will not gamble your way out of a gambling problem. The Gambling Clinic is a trading arm of the Extern Problem Gambling Project (formerly Problem Gambling Ireland). We provide specialist CBT treatment for gambling addiction/problem gambling, in Ireland.
The aim of this spread trading guide is to give you a method of earning money that I and thousands of other people in Ireland and in the UK use.
With a history that now dates back to almost 40 years, spread trading is increasingly becoming more mainstream. In the last ten years the spread betting markets has exploded, but even more so in the last five years. There are a number of reasons for that, notably the introduction of broadband and mobile phones, as well as huge volatility in the markets post 2008.
However, I have no intentions of giving you a history lesson, telling you all of the ins and outs of the stock markets or telling you how to use all of the functions of a spread betting firm. I trade indices and stocks with these methods. If you wish to apply these methods to trading Commodities, Forex Pairs, Stocks, House prices or a million and one other things, please do so. It will work for anything, but you have to know the area that you are going to trade in.
What I am trying to convey is that I do not trade in anything else, and therefore I cannot comment on anything else. It is up to you to watch and learn about anything else that you wish to apply this knowledge to.
I am going to give you the knowledge that you will need to make money spread betting.
Introduction to Spread Betting
Spread betting or spread trading as it is commonly referred to in Ireland offers a tax-free and efficient way of trading the price movements of thousands of financial markets including indices, shares, forex pairs, commodities and more.
Financial spread betting may at first seem dauntingly complex but this can’t be further from the truth and has a number of advantages for traders and investors who want to access the financial markets in a cost-efficient way. In fact there’s no comparison to be made between dealing with traditional Irish stock brokers like Goodbody Stockbrokers, Davy, BCP or Merrion Capital and dealing with a spread betting provider! Who are the recommended Irish spread betting firms? Marketspeads? Deltaindex? IG Index? CMC Markets?
However, even before considering creating an account, make sure that you fully understand the risks and possible rewards. First and foremost, in the UK and Ireland financial spread betting is tax free, with no capital gains tax or stamp duty to worry about. But not only that, spread trading also allows you to take advantage of both rising and falling markets. Conventionally, stock investors would liquidate their positions stay out of the stock market when it was falling. They had little other choice then since they would probably have ended losing money had they stayed invested.
Spread betting allows you to open a ‘short’ trade, meaning you would make money if the price goes down. It doesn’t matter if you are new to spread betting, or if you have already tried it and are looking for ways to improve your performance. This spread betting guide contains information for the absolute beginner, and has much to help the experienced better, too.
This guide takes you step-by-step through the process of spread betting, comparing it with other methods of making money from trading, then introduces you to the techniques that you will want to learn in order to decide what bets to place. Finally, before you go wild, there are sections on how to manage your spread betting account, limiting your betting to what you can really afford so that you can continue to profit in the long-term.
“It’s because long only is a dangerous place to be in an uncertain world. It is because you get heavily taxed on pretty much every financial gain you make.”
Note that nothing in this guide constitutes personal advice or provides any guarantee of profit. Best practices are explained, and it is up to you to apply them consistently to have the best chance of success. Good luck!
OVER NINE IN every 10 people reported by the HSE as being treated for a gambling addiction in the past four years were men, new statistics have shown.
Furthermore, it is predominantly young men who present for gambling addiction with the median age of those seeking treatment in recent years at 35 years old.
Sinn Féin’s health spokesperson Louise O’Reilly told TheJournal.ie that the available evidence to date shows that the problem of gambling within society is now “more complex and far more widespread than ever” and a variety of responses are needed to deal with this crisis.
‘Not representative’
Last week, TheJournal.ie revealed figures from the HSE which showed the numbers of people who presented with gambling as the main problem, as reported to the National Drug Treatment Reporting System (NDTRS).
Gambling Stories Ireland And England
However, as reporting to the NDTRS is optional, the HSE pointed out that its figures in this regard don’t paint an accurate picture of the scale of gambling addiction in Ireland.
It said: “Therefore, these figures cannot be considered complete or representative of the treatment for gambling in a national context.”
In any case, the figures show that the number of cases were people presented with problem gambling were 208 in 2015, 195 in 2016 and 219 in 2017.
With the figures to date for 2018 only covering 60% of cases, the HSE that it had observed 174 cases.
This means that there were at least just under 800 cases where the HSE treated a patient for a gambling addiction in the past four years.
Demographics
Breaking down the numbers, the overwhelming majority of people who present for treatment for a gambling addiction are male, and under 50.
According to figures from the HSE for 2015 to 2017, over 80% of cases treated for gambling were aged between 20 and 49.
The median age for those entering treatment was 35 years of age.
Furthermore, over 90% of cases treated for gambling were male.
In terms of where in the country the problem is most prevalent, the HSE indicated which community healthcare organisations (CHO) area had the most.
There are nine such areas across Ireland.
Gambling Stories Ireland And Brexit
The highest number of cases in 2015 and 2017 came from individuals who reside in CHO 4 which covers Cork and Kerry.
In 2015, 25% of cases came from either Cork and Kerry. In 2017, this figures was 24%.
In 2016, the highest number of cases (25%) came from CHO 5 – which covers south Tipperary, Carlow/Kilkenny, Waterford and Wexford.
Gambling Stories Ireland History
In terms of where these people received their treatment, the highest proportion was in this CHO 5 in both 2015 and 2016.
In 2017, it was in Dublin south, Kildare and west Wicklow community healthcare programmes that most people received treatment.
O’Reilly added that health services need to step up in terms of how they spread the right messages on problem gambling.
She said: “All the available evidence points to the fact that it is predominantly young men who are suffering from problem gambling and our health services have to be able to educate about this problem and reach out to these young men in a targeted way.