Gambling Is Not Part Of Retirement Planning

A new campaign has been launched to urge boomers to realize the risks of gambling when nearing retirement.  The Responsible Gambling Council is the sponsor of the campaign that is warning baby boomers to give themselves a “reality check” and make sure that occasional gambling doesn’t morph into a serious problem as they head toward retirement.

About 2.1 per cent of Ontario adults in the 55-plus age group have a gambling problem, which is lower than in the general population, the council said. But the bulging size of the baby boom demographic makes it a concern.

“The scary thing is because we’ve got so many boomers who are reaching into their retirement years now, over the next 10 years or so we’re going to have a much larger number of boomers. Although the percentage will be the same, the actual numbers will increase,” Terry Finn, chair of the Responsible Gambling Council, explained.

The awareness program is financially supported by the Ontario Ministry of Health Promotion, which sets aside a small percentage of gross gambling revenues to help problem gamblers.

John Borody, CEO of the Addictions Foundation of Manitoba, says we won’t know for a few years whether recession-related changes occurring in society now will lead to more people addicted to gambling or alcohol.  Problem gamblers are often at the lower end of the income spectrum and probably have a lower-lever education, he said.  Borody is emphatic that gambling is not a way to make money.

If you’re going to gamble, you need to do it with money that you can afford to lose.  Those are the two messages we would tell people, never mind the economic situation…. The odds are not in your favour. The odds are in the favour of the house.

For reference, the Responsible Gambling Council was established in 1983 as the Canadian Foundation on Compulsive Gambling (CFCG), the country’s first non-profit responsible gambling organization. Founded by Tibor Barsony, a compulsive gambler and pioneer in the field, the Foundation succeeded in putting problem and compulsive gambling issues on the public agenda.

The Addictions Foundation of Manitoba (AFM) serves Manitoba through 23 offices.  Its Mission is to enhance the health of Manitobans by reducing the harm of alcohol, other drugs and gambling through leadership in education, prevention, rehabilitation and research.