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Irish Times
an hour ago
- Business
- Irish Times
Free bets and money-back guarantees cause gamblers to bet more, new study shows
Free bets, money-back guarantees and other special offers from gambling companies cause gamblers to spend over 10 per cent more, according to new research. A study by think tank, the Economic and Social Research Institute (ESRI), funded by the State's gambling watchdog, the Gambling Regulatory Authority of Ireland , found these inducements disproportionately entice those at risk of problem gambling. The research was carried out in the weeks before the 2024 Uefa European Football championship, with a sample of 622 men under the age of 40, the majority of whom were regular gamblers. [ Generation gamble: the invisible addiction crisis gripping Ireland's teenagers Opens in new window ] Participants were given money to place up to six bets on matches in the championship. Half of these participants were presented with offers of free bets and money-back guarantees, causing them to spend more than 10 per cent more, and encouraging about half of the participants to bet. READ MORE Although most of the sample were regular gamblers, most participants were unaware of the terms and conditions of betting inducements. More than half who accepted a free bet believed their stake would be returned if they won, despite this not being standard practice in the market. Some 87 per cent who took a free bet were unaware of the size of the stake, and 63 per cent of those who took the same offer were unaware of what would be returned if they won. Participants exposed to 'bad bets', which offer odds well below market rates, were three times more likely to spend money on these types of bets, despite being better off choosing other options or not betting at all. Dr Diarmaid Ó Ceallaigh, a research fellow in the ESRI 's behavioural research unit, said the findings 'support the case for stricter regulation of gambling offers in Ireland, following steps already taken in other European countries, such as banning sign-up bonuses, restricting offers to at-risk individuals, and capping their value'. Anne Marie Caulfield, chief executive of the Gambling Regulatory Authority of Ireland, said the findings 'add weight to the discourse around the harms of gambling inducements'.
Irish Times
3 hours ago
- Business
- Irish Times
Trade and economic uncertainty reaches record levels, Government trade forum hears
Uncertainty over trade and economic policy has soared to highs not seen since the pandemic, the Government's trade forum has been told. A presentation to the group by Minister for Finance Paschal Donohoe underlined an 'exceptionally uncertain' near-term outlook. The forum, established earlier this year, comprises various members including Government and business and is aimed at facilitating engagement on new and emerging trade developments. The Department of Finance is conducting assessments of the macroeconomic impact of tariffs along with the Economic and Social Research Institute (ESRI), focusing on the most likely landing zone. READ MORE Officials believe that is a level of 10 per cent tariffs imposed unilaterally by the US on the rest of the world with carve outs for certain sectors. However, Mr Donohoe's presentation to the trade forum struck a cautionary tone, noting that the carve outs are assumed 'at least for now'. It said uncertainty was the key factor shaping the economic outlook, with trade policy uncertainty at an all-time high and economic policy uncertainty greater than during the Covid-19 pandemic. A weakened dollar is a headwind for some exporters, the forum was told, while oil prices have been volatile. Mr Donohoe outlined that the economy and employment would continue to expand, albeit at a slower pace. In the short term, modified domestic demand – a measure of demand in the real economy – would grow by 2 per cent versus 2.5 per cent in a no-tariff scenario in 2025. The following year it would grow by 1.75 per cent, a point lower than the no-tariff scenario. Employment, meanwhile, would grow at 1.75 per cent in 2025, versus 2 per cent without tariffs, and 1 per cent in 2026 rather than a predicted 1.5 per cent without tariffs. Overall, it is estimated that employment would be 1.5 per cent lower over the medium term – equivalent to almost 50,000 fewer jobs compared with a no-tariff baseline. Employment will still rise overall, however. The forum was cautioned that modelling the Irish economy was less reliable than elsewhere, due to the impact of specific firm's decision on exports and GDP, and that the model does not take into account the impact on foreign direct investment as this concentrated sector is difficult to model. The forum was warned that there was no clear precedent upon which confident projections could be made. Government sources said its assessment was that the economy remained robust and would continue to grow, albeit at a slightly slower rate. More impact analysis will be presented on the day of Budget 2026, focusing on the potential hit to the public finances. Tánaiste Simon Harris will be in Berlin on Friday for talks with his German counterpart, having recently engaged with his US counterpart Jameson Grier and EU trade ministers. The Coalition intends to focus on bilateral engagements and trade missions such as Taoiseach Micheál Martin 's current Japan trip. The forum also got an update on the Government's upcoming action plan on market diversification, intended to help exporters tap new markets, due to go to Cabinet in July. A renewed focus is also expected on competitiveness. It examined the semiconductor sector in Ireland, looking at current issues, and positioning Ireland as a global hub, which the Government says will be underpinned by a new national semiconductor strategy. Minister for Public Expenditure Jack Chambers told the forum that the review of the National Development Plan will be finalised in July with a focus on investment in sectors such as water, energy and housing.
The Journal
5 hours ago
- Health
- The Journal
'Hidden population' of young carers in Ireland more likely to suffer from anxiety and self-harm
YOUNG PEOPLE WHO informally care for family members are at risk of suffering from anxiety, depression and self-harm, according to researchers at University of Limerick. ESRI research indicates that up to one quarter of Irish young people provide informal care for family members, while CSO figures suggest some carers under 15 are providing more than 43 hours of care weekly. The young carers researched by the University of Limerick provide informal care to family suffering from physical or intellectual disabilities, old age, poor mental health, and substance abuse issues. The research found that young carers are often undersupported, unidentified and unrecognised – but that a strong support system and strong social relationships can decrease the risk of mental health issues in young carers. Lead researcher Aoife Bowman Grangel said young carers are a 'hidden population', due in part to a lack of public policy. 'It's really crucial that young carers rights are recognised in national legislation in Ireland. Young carers are not currently recognised or protected by national legislation,' she said. Bowman Grangel highlighted the need for officials to engage with young carers directly when drafting policies which affect them. Advertisement To improve young carers mental health prospects, Bowman Grangel recommends making efforts to identify young carers and ensure they're getting the right support. She said it was essential young people aren't taking on 'disproportionate' levels of care. Bowman Grangel said she was 'not surprised' by her research findings, as young carers are 'particularly vulnerable' to mental health issues. Carers under the age of 25 often begin their caring responsibilities during a 'critical developmental period', where the risk of mental disorder is already high. This vulnerability is compounded by the unpredictable nature of illnesses and grief. The researcher said exposure to chronic stress during the formative years of childhood, adolescence or young adulthood can have lasting effects on both mental and physical health. 'Caregiving, by its nature, is a chronic stressor, and young carers face additional stressors associated with caring,' she said. This can include emotional strain, social isolation, disruption to their daily routines, and potentially even financial insecurity, she said. The research suggests carers are particularly at risk of mental health issues if they engage in long-term or intensive caregiving, assist with personal care such as washing, are female or are from an ethnic minority background. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
Irish Times
19 hours ago
- Business
- Irish Times
Having children can derail your finances, especially if you're with the wrong employer
Having kids can derail your finances , especially if you're with the wrong employer . A family-friendly organisation can help you stay in employment – maintaining your salary, pension contributions, skills and networks after kids can have a massive impact on your finances long term. Some employers offer valuable family benefits too. So, if you have children or are planning to , vetting an employer's policies, culture and benefits pays off. The parent penalty For some, pausing or stopping work after kids is a choice. For some, the cost and availability of childcare means the numbers just don't add up. READ MORE Other parents leave work when they have children because their employer expects them to work like they don't have any. Women shoulder a disproportionate responsibility for care, says research from The Economic and Social Research Institute (ESRI) . More than 82 per cent of women who started maternity leave in 2020 returned to work for the same employer within six months of their maternity leave ending, according to the CSO. For this same cohort who started maternity leave in 2020, in the 12 months following their last maternity payment, 13 per cent were no longer in employment. Switching to part-time work or reduced hours, if an employer facilitates this, can be a solution. Though this means less money. Some parents switch careers entirely when it's made too hard for them to continue in the one they have built. [ School fees: how to save €50,000 to pay for children's school or college costs Opens in new window ] All of this can mean earning less over the course of your career, with gaps in your pension contributions too. Indeed, women taking time out of the workforce, usually for maternity or caring responsibilities, is one of the two main drivers of the 36 per cent gender pension gap, says Irish Life in the company's gender pension gap research. Taking time out from age 30-36 could mean a pension pot of about €118,000 less than if they had taken no break at all, says Irish Life. There are other financial implications too. From getting your phone bill paid, to health insurance, a car allowance to bonuses and company share schemes, the cost of missed perks can really add up. That's why if you are thinking of having children, or thinking of having more of them, choosing an employer whose policies and culture acknowledge parenthood, can be a great financial decision. The ultimate tax break you need to take advantage of Listen | 24:28 Audit the culture Checking an employer's support of 'the juggle' should be a high priority when assessing any role. A big salary can be a false flag if the working conditions quickly become unsustainable when you become a parent. If you're job hunting, or being headhunted, don't be afraid to ask the recruiter about the culture. You won't be the only person doing so. 'We certainly have candidates asking us about companies that have more flexibility,' says Trayc Keevans, foreign direct investment director with recruitment company Morgan McKinley. It's not because the candidate wants to do less work, but because they want to work in an environment that will enable them to contribute as much as possible, she says. 'There's no question, for a woman who has a family, or is planning to, this is a definite consideration,' says Keevans. [ I'm paying €757 to keep my child busy for 3.6 hours a day. Summer childcare maths doesn't add up Opens in new window ] 'Women are looking for what is going to enable them. The will to do the best possible job, to have a career and to be successful is there with all of them, but time constraints can hold them back and that can be in the form of a lack of employer flexibility,' she says. Leadership support and flexible working hours are the two most significant drivers for fostering family-friendly culture, says a Great Place to Work Ireland spokeswoman. 'When leaders openly share how they manage family responsibilities alongside work, and when an organisation promotes family-oriented values, this creates an environment where family commitments are respected,' she says. If everybody from the top down pretends they don't have kids, then the job may not be the right fit. Hybrid and flexible working When it comes to the benefits most valued by employees, working from home took third place in a 2024 survey by Morgan McKinley survey of 3,400 professionals in 650 companies globally. Coupled with flexible working, working from home can make a huge difference to family logistics. Dropping off, picking up, attending parent-teacher meetings, children's appointments and the odd football game may all become possible. Hybrid and flexible work at such times can ease pressure and help parents stay the course of work. This is where some public sector employers can come into their own. While they may not pay top dollar or offer head-turning perks, the culture can be more genuinely tolerant of family life. Some public sector organisations facilitate working from home for all of August and December for example. To parents juggling long summer holidays, or Christmas school plays, Santa letters and the inevitable seasonal colds, this can be a make-or-break perk. Others offer substantial career breaks, and employees routinely avail of them without recrimination. You won't get free Deliveroo or doggy day care, but you might be able to take your full statutory entitlements without blowback. This can make all the difference when it comes to sticking it out at work. Paid leave Does the company top up statutory maternity and paternity leave payments to full salary? This is a significant help when you've added a tiny cost centre to your family. Mothers can take another 16 weeks of leave immediately after their maternity leave. The State pays nothing during this period and most employers don't either – unless you're lucky. Some of the big pharma and tech companies here are paying full salary for at least a portion of this period, even if they don't advertise it, says Keevans. 'The reality is, somebody doesn't know that in a job offer letter, they only know it when they receive the employee handbook, but that's after they join the organisation,' says Keevans. 'Women don't want to ask the employer directly, but it is a question we [recruiters] are asked more and more now by prospective employees – 'What is this company's maternity policy?'' says Keevans. If you are headhunted or are using a recruitment company to find a job, get them to ask. Looking at employer review websites like Glassdoor, reading an employer's Gender Pay Gap report can be a source of valuable intelligence too. Some extra weeks of maternity leave on full salary can help to get you through that exhausting and expensive first year and back to work with vim. Irish marketing communications agency Core, a Great Place to Work awardee, offers parents a phased return to workplace of 50 per cent of full hours in the first two weeks, and 70 per cent in the second two weeks, on full pay. Healthcare Paid private health insurance is the second most valued employee benefit, says the Morgan McKinley research. Grommets, speech therapy, braces, the chickenpox vaccine – children's health bills can mount up. Private health insurance can make a huge difference to speed and cost of treatment. The average cost of a health insurance plan is now €1,929, says the Health Insurance Authority. Child plans can cost between €300 and €600. Some employers, like Salesforce for example, offer paid health insurance for partners and children too. For a family of two adults and two children, this can be a saving of over €5,000 a year, or about €400 a month. This will spare you a chunk of after tax income. Fertility treatment The majority of women of reproductive age are in paid employment – their workplace will be an extremely important factor in their experience of fertility care, pregnancy or pregnancy loss. A growing number of employers are providing fertility treatment support to their staff, with some firms offering contributions to the costs in excess of €50,000, according to their gender pay gap reports. Professional services and legal firms PwC, KPMG and McCann Fitzgerald are among the employers to flag these benefits. While the number of companies offering leave, or money towards the cost of treatment is still low – just 11 per cent, according to a 2023 survey of Ibec member companies – the numbers are growing. Bank of Ireland, Vodafone and Lidl all report providing fertility supports in recent years, according to Irish Times reporting . The IRFU offers reproductive health-related leave. Meta, Airbnb, Squarespace are among companies offering egg freezing support. At a cost of between €2,300 and €3,700 per round, this can be of substantial benefit. Flexibility around fertility appointments, leave after pregnancy loss and manager understanding can make a big difference between remaining in work after a difficult experience and crashing out. Feeling that you have to keep fertility struggles a secret and work without interruption can amplify stress. Meet the grandparents Ireland's working population has evolved with an increasing number of dual nationality households. Where grandparents and extended family live or overseas, the option to work remotely for an extended period can enable valuable quality time. 'Families are starting to avail of this now, and it's proven to be a way to spend time with grandparents in the country of the parent who is not Irish,' says Keevans. 'That is proving really attractive.' It can also solve school holiday childcare pressures. Six weeks worth of summer camps for two children can amount to about €1,200. Partners are parents too To level the playing field, partners need to ask questions about family leave at their job interviews too. Men who push their right to parent can make it harder for workplaces to penalise women for doing the same thing. When it comes to paternity benefit, the State pays €274 a week for two weeks off work in the first six months of the baby's life. The leave in Ireland applies to same-sex couples too. So, whether you are a father of a new baby, or you are the partner, spouse, civil partner or cohabitant of the mother of the baby, or you are the parent of a donor-conceived child, you are entitled to paternity benefit. The leave also applies to adoption. Again, many employers are topping this up to full pay. Some tech employers are offering four weeks paid paternity leave. US restaurant management platform Toast, which has offices in Dublin, promotes parental equality by offering four months fully paid leave to non-birthing parents. Dads who take their full paternity leave can help make it the norm for others to do so too. Until more fathers take leave for caring, women will continue to bear the financial hit for having children.
Irish Independent
3 days ago
- Health
- Irish Independent
Nursing home crisis looms as one in five will be over 65 by 2040
One in five people in Ireland will be aged 65 or older in just 15 years, creating a looming increased demand for nursing- home beds and home supports, even if more citizens enjoy healthy ageing, according to a report published today. An analysis by the ESRI said long-term residential care beds and home-support hours provided to the older population will need to increase by at least 60pc by 2040. By then, 21pc of people will be aged 65 or older and the population aged 85 and over will more than double. It said that in 2022, there were an estimated combined 33,324 short-stay and long-stay beds in nursing homes, including those used temporarily after hospital discharge and rehabilitation. Around seven in eight people are in for long-stay care, mostly supported by the Fair Deal scheme. Short-stay bed requirements are projected to grow from 3,745 in 2022, to between 6,430 and 7,265 by 2040. Long-stay bed demands could need to rise from 29,579 in 2022 to between 47,590 and 53,270 by 2040. And home-support hours may need to rise from 28.7 million annually in 2022 to between 44.9 million and 54.9 million by 2040. Healthy ageing could reduce the extent of the need for nursing-home beds, along with expanding home-support services. However, the substantial impact of increases in the number of older people in Ireland will offset much of the potential easing of the situation that having more people living in good health in older years will bring. Senior research officer at the ESRI and lead author of the report, Dr Brendan Walsh, said: 'Ireland has experienced tremendous improvements in life expectancy in recent decades. This means there is, and will be, a much larger population at older ages who require long-term care services to support them at home, or within residential facilities.' ADVERTISEMENT Health Minister Jennifer Carroll MacNeill said the research will 'help us plan better'. She said the Programme for Government pledges to build more public nursing-home beds, create a home care scheme to help people stay in their homes longer, and increase home-care hours. 'We are already making progress in increasing both residential care capacity and home-support hours for our older population,' she said. 'This is shown by the €4m allocated in Budget 2025 to staff and opening of 615 new community beds. 'The Department of Health and the HSE are also working on a new Long-Term Residential Care Additional Capacity Plan, to be published in 2025. 'This capacity review, commissioned by the Department of Health and the HSE, shows our commitment to planning based on evidence. 'With the Hippocrates Projection Model and our ongoing work with the ESRI, we can adapt our plans to new data and policies as they come up.' Junior minister for older people Kieran O'Donnell said that the ESRI research would be 'invaluable' for capacity planning for residential care and home support. 'It is evident that significant action will be required by Government in order to ensure that the appropriate care services are available for our older population and to deliver on Programme for Government, Sláintecare and Project Ireland 2040 commitments,' Mr O'Donnell said.
