UK Banking System Gambles With Brits’ Livelihood

Posted on March 19, 2014 by admin
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Coinciding with an unforgettable week of racing at Cheltenham, Britain’s gambling industry has had some rather less sunny headlines. Recent figures from the Campaign for Fairer Gambling revealed that, across the 55 most deprived boroughs in the country, more than £1.3bn was gambled on fixed-odds betting terminals last year, £470m of which was lost. It is up to consumers whether they gamble or not, but many who cannot afford it are being encouraged to throw away their money on the outcome of a random chance. Sadly, this is the escalator down to the nightmare cycle of debt, high APRs and roll-over deals.

Read the full article in The Huffington Post online.