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Wed, Aug 19, 2009
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Young and in debt - because of gambling

BY KOH HUI THENG

EDUCATED and in debt from gambling - a sticky situation that more young Singaporeans are finding themselves in.

One in four debtors aged below 30 cited gambling as a cause of their financial woes last year, up from one in seven in 2005, said Credit Counselling Singapore (CCS).

Speaking on the final day of the Singapore Problem Gambling Conference yesterday, CCS president Kuo How Nam said that the young debtor tends to be a married man with A-level or higher qualifications, who can owe 12 creditors up to $150,000.

Counseller and Family Life Society's spiritual director, Father Joachim Chang, said: 'Youngsters who turn to gambling see it as an outlet for expressing their identity. Many do not understand the consequences of their actions.'

In fact, a Singapore Management University (SMU) study last month found that four in five undergraduates view gambling as a social activity that they would not become addicted to.

The National Council on Problem Gambling commissioned a Nielsen survey last year of 2,000 Singapore youths, aged between 15 and 24. Results showed that one in three of them gambled.

To warn youths against gambling, SMU's Recreational Gaming Club has held roadshows at three universities here, where students are given mini calendars that teach them to look out for warning signs of addiction, such as gambling longer than planned or until their last dollar is gone.


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