Unregulated cryptocurrency gambling is driving increased demand at NHS gambling clinics, according to health service director Amanda Pritchard. She stressed the urgent need for regulatory action to prevent young people from becoming addicted to new forms of gambling, arguing that the NHS can no longer bear the burden of social problems.
Pritchard highlighted the growing number of people seeking treatment after trying to gain wealth through cryptocurrency trading, such as bitcoineither betting on the market. She noticed that the 15 specialized gambling clinics established across the country address a "real and growing societal need" for treatment, describing gambling addiction as "a cruel disease that has the power to destroy people's lives."
Speaking at the Confed Expo conference of NHS managers, Pritchard warned that the health service cannot become a "costly safety net" for social problems. He wondered whether society should continue to allow the methods that keep people hooked to become more and more sophisticated.
Greater demand for treatment
Pritchard's call for regulatory action comes amid reports from NHS staff about younger people becoming gambling addict in unregulated cryptocurrency markets. He stressed that the NHS, already under pressure post-COVID, cannot afford to serve as a beacon for these issues. "That kind of service is what the NHS was born to do, but it shouldn't be our ambition now," she said.
Last year, the Treasury Select Committee recommended that trading in bitcoin and other speculative assets Cryptocurrencies will be regulated as games of chance. protect consumers from the risks of the $1.2 trillion market. A 2022 survey cited by the committee found that around one in ten adults in the UK have had cryptoassets, often considering them a "fun investment." Anecdotal evidence also suggested that schoolchildren were speculating in these markets.
Cryptocurrency and gambling addiction
Pritchard described the addictive nature of investing in cryptocurrencies, where people risk their money on assets with no fixed value. He expressed concern that this growing problem could increase demand for NHS services. "The addictive habit causes people to invest their own money in something of no fixed value, leaving the NHS to pick up the pieces," he said.
Pritchard also noted a "rising tide" of patients suffering from obesity-related diseases, including a significant increase in prediabetics. The national diabetes audit revealed that more than half a million additional people have been identified as pre-diabetic over the past year, representing an increase of almost 20%.
The combination of growing gambling addiction related to cryptocurrency and other health challenges highlight the growing pressures on the NHS. Pritchard's call for regulatory action underlines the need for societal changes to address these growing problems and relieve pressure on healthcare services.
Fountain:
"NHS chief calls for controls on cryptocurrencies after problem gambling rise". The Telegraph. June 12, 2024.
