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Finnish Bank Makes Claims Against Gambling
Giving an example of media coverage and claims unsupported by facts this week, the Finnish website YLE.fi claimed that online gambling may be surpassing unemployment as a common cause of private financial difficulties.
It quotes a bank official from Nordea Bank who claims that clients are defaulting on mortgage payments because of an online gambling habit, but does not provide facts backing his assertion. Tarja Svartström, a private financal affairs economist at Nordea Bank says it is a new phenomenon, and that excessive non-gambling credit in addition to the proliferation of online gambling sites accessed by Finnish gamblers have proved to be a devastating combination for people with a gambling addiction.
"We are seeing the gambling phenomenon in people not paying their home loan installments, or paying them late", said Svartstrom. "In contrast, unemployment does not at all seem to be such a phenomenon."
The problem is also being seen in the number of people contracting new bank loans to pay off outstanding loans. In extreme cases, some people who have lost their jobs in the recession have turned to online gambling in the hope of paying off home loans, Svartstrom claims, again without substantiating his statement.
"People can't pay their loans because they gamble. On the other hand, it can be that when it looks like someone is getting into financial difficulties, he or she tries to manage loans by gambling," the economist notes.
Kati Rantala, a special researcher at Finland's National Research Institute of Legal Policy says - also without producing any statistics - that addictions in general are behind many private financial problems and they have increased over the past couple of years, including more addiction to gambling.
Ruddock observes that there is a mountain of evidence showing online gambling (and poker in particular) does not increase the number of problem gamblers...and goes on to show where that evidence can be found. Among his arguments is a reference to the UK Gambling Commission's regular "British Gambling Prevalence Surveys", which continue to show a low incidence of addictive gambling in the online secor.
The author also makes some interesting disclosures regarding the composition of the National Gambling Impact Study's board members and the danger of bias this may constitute.
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Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
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Sensational Sixes Slot Goes Live -
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3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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