More people have been turning to tools that block them from gambling amid the cost of living crisis.

Online bank Monzo revealed that it has seen 50,000 of its customers make use of its gambling block tool for the first time over the past six months.

This is a third more than the number of people who started using it in the previous six months.

The lender also blocked 20% more transactions than it did in the prior period, it said.

It added that half a million of its nearly seven million customers have used the gambling block since it launched in June 2018.

The optional tool helps people to curb a gambling addiction by blocking transactions to a betting company through their current account.

And amid growing cost pressures, rising inflation, and shrinking household budgets, it seems more people are turning to the tool.

UK weather: Two coal plants warmed up as National Grid runs fifth blackout prevention test to cope with cold snap

A year of the cost of living crisis

Make Christmas cash selling secondhand – and how to choose between Twig, Vinted, eBay and Depop

Once switched on, customers can only deactivate the block by contacting the customer support team and then waiting 48 hours to disable it in the app. This is done to prevent people from acting compulsively.

Online gambling has moved at a dizzying pace into the online era – with casinos and betting shops replaced by smartphones and apps.

Please use Chrome browser for a more accessible video player

Rise in harmful gambling

Charities have highlighted a rise in harmful gambling in line with cost of living pressures worsening in the UK.

GambleAware recently said it had serious concerns that people, particularly women, expect to gamble more in the coming months in an attempt to supplement their household income.

It also warned that December could see a “perfect storm” of the cost of living crisis, the run-up to Christmas, and the football World Cup pushing more people to resort to betting to cope.

Read more:
Man lost £1m in football bets
Mothers say ‘gambling kills’ should be on every advert

Other big banks have followed Monzo’s lead, with the likes of Lloyds Bank, NatWest and Chase introducing similar features on their mobile apps.

Last month, Lloyds Bank also introduced personalised gambling spend limits for its customers, which it said was the first of its kind for a UK high-street bank.

Click to subscribe to the Sky News Daily wherever you get your podcasts

Since the government announced plans to reform gambling laws in 2019, there have been constant delays to the white paper.

Related posts:

Watch: Friday’s newspaper front pages Army to shrink to its smallest size since the 1700s under sweeping defence plans UK could face water shortages if action is not taken to conserve supplies River Thames seal nicknamed Freddie Mercury put down after dog attack Treasury admits staff held ‘impromptu’ drinks during lockdown last year Thousands queue for Banksy T-shirt to raise cash for four accused of toppling slave trader statue Police concern for missing teen last seen leaving nightclub Sir David Attenborough named ‘Champion of the Earth’ by UN Mother, stepfather and boy, 14, found guilty of murdering five-year-old Logan Mwangi ‘Officers acted with integrity’: Met Police chief defends partygate investigation Gary Neville referred to attorney general over social media post Boris Johnson’s official plane used for ‘boozy jolly’ over the UK, report claims