With gaming on the rise, whether through an app or games console, so too are the options to purchase upgrades, boosts, cheats, loot boxes and more.
The purchase of such things, do not meet the legal definition of gambling, however, it there has also been a rise in Gaming Addiction from young children to adults.
Gaming expenditure also raises the question if this is a justifiable spend, especially to those who are already struggling financially.
These purchases are believed to ‘exploit and manipulate players’, encouraging bad habits and can be the start of gambling addictions, with the worst effects being on children and young people.
Many parents pay for their child’s online yearly subscription, however, forget to remove these details once the transaction is complete. This can result in their children using their card without their knowledge, in some cases, charging over £100 to their card within a few weeks.
Gaming can include:
- PC based gaming
- Consoles e.g. Ps4, Xbox, Wii, etc.
- Android Apps - anything from Mine Craft to Candy Crush
- Social Media Game rooms or Instant Games
Things to consider:
- Have a look at your recent bank statements and total the amount spent on gaming purchases. Could the money have been better used elsewhere?
- Will the gaming purchase add value to your or your child’s lifestyle?
- Have you removed card details to avoid your children using it at a later stage to purchase boost, etc. without your consent?
ASK for help or advice before things spiral out of control – contact our Student Money team on 028953 67000 or email firstname.lastname@example.org