For Those 50+, Gambling is all Fun and Games. Wanna' Bet?

According to a Forbes magazine article, Americans “lose more money gambling than they spend on movie tickets, theme parks, spectator sports and video games combined.”


For Those 50+, Gambling is all Fun and Games. Wanna' Bet?

Gambling is fun, right?

For most people 50+, gambling is entertainment, pure and simple. It's a chance to escape with friends, get away from day to day stresses and have fun. Winning money is a bonus, not the primary objective. Most seniors who gamble continue to take care of their health and financial obligations.

Vegas, here we come!

For an increasing number of older citizens, (pre-seniors, seniors and retirees) casino gambling has become the new form of recreation and entertainment. Older adults now form the largest age group of annual visitors to Las Vegas and have become a significant segment of the population who frequent riverboat, Indian reservation, and the commercial gambling casino industry.

Time and Money.

Older adults have two characteristics that make them attractive to the gaming industry: time and for many, accumulated wealth. Gambling machines are fun and exciting and don't require a great deal of concentration or knowledge. Just pop in those quarters.

Safe environment.

Casinos and bingo parlors have worked hard to be seen as safe and friendly entertainment venues and they fill a social void for many older adults. The casino atmosphere is both stimulating and inclusive. Everybody is welcome!

G rated, sort of.

The stigma that once surrounded gambling is gone, especially for women. Community groups, such as retirement and senior centers, visit casinos regularly and often sponsor casino nights. Casinos are willing to provide transportation from senior sites as a convenience to older citizens, many of whom limit their driving to within a local area.

Boffo entertainment, free drinks and all you can eat.

Casinos often provide entertainment such as big band music, champagne fountains and free shrimp cocktails that patrons would not be subject to elsewhere. Casino staff is trained to be friendly and especially accommodating to older citizens. Additionally, casinos offer low-cost buffet meals that are hard for anyone to turn down.

But, it’s not all wine and roses.

For a growing number of people in the over 50 age segment, sadly, gambling can be a losing proposition . An easily accessible minor habit of gambling may become a potentially devastating pastime.

According to a recent study made by McNeilly and Burke, middle-aged to older women (who comprise the largest portion of the older adult population) are believed to be among the fastest growing group of those who gamble –sometimes to relieve feelings of isolation, loneliness or boredom.

Danger!

Problems can occur when more time and attention are needed as the gambler attempts to win back what he or she has lost. If the losses continue, the gambler may have to sell possessions or property to cover expenses, or seek risky or high interest loans. Often, the problem gambler avoids friends and family and lies about his or her activities.

7 signs of potential gambling problems:

gambling more often
gambling for more money
gambling for longer periods of time
being preoccupied with gambling or with obtaining money with which to gamble
gambling in spite of negative consequences, such as large losses, taking out secret loans, or tapping into savings or pension plans
having frequent mood swings, higher when winning, lower when losing
gambling as a means to cope with loneliness, stress or depression
Here are some tips from The Minnesota Institute of Public Health on how to reduce the risk of developing a gambling problem.

The decision to gamble should be a personal choice.
No one should feel pressured to gamble. Many people will choose to gamble socially, for a limited period of time and with predetermined limits for losses. Others will simply have no desire to gamble. Some people with a family history of gambling problems or other addictions may choose not to risk gambling at all.

Gambling is not essential for having a good time.
The real value of social activities is being with friends and taking time out from the pressures of daily living. Gambling should not be seen as necessary for having fun and being with friends. Gambling can be an enjoyable complement to other activities but shouldn't be seen as the only method of socializing.

What constitutes an acceptable loss needs to be established before starting to gamble.
People need to expect that they will lose more often than they will win. The odds are always against winning. Any money spent on gambling needs to be considered the cost of entertainment. Money needed to provide for basic needs, such as food, clothing, shelter and medications, should not be used for gambling. People should only gamble money they can afford to lose and avoid betting when the level is out of their range. For those who choose to gamble, it is essential to know when to stop.

Borrowing money to gamble should be avoided and discouraged.
Borrowing money from a friend or relative, writing bad checks, pawning personal possessions, taking out home equity loans or credit card cash advances with the intention of repaying with gambling winnings is always high-risk and inappropriate.

There are certain high risk situations during which gambling should be avoided.
They include when you are:

feeling lonely, angry, depressed or under stress;
coping with the death or loss of a loved one;
trying to solve any personal or family problems; or
trying to impress others.
Using alcohol or other drugs when gambling is risky.
Alcohol or other drug use can affect a person's judgment and can interfere with his/her ability to control gambling and adhere to predetermined limits.

Where to go for help, if needed:

Gamblers Anonymous: 1-213-386-8789 or .
National Council on Problem Gambling: 1-800-522-4700.
So to end on a positive note, remember to keep gambling in perspective. It should be (if you choose) just part of your life—not all of it. Have fun, make friends and have a great time. <<


For other articles of interest to those over 50 (seniors and boomers) visit www.LetLifeIn.com. With a cutting edge and a (sometimes irreverent) sense of humor, LetLifeIn.com explores all aspects of being 50+ -- the concerns, the issues, and the controversies as well as the fun stuff.