Many of us have traditionally thought of gambling as something that happens on occasional trips to Las Vegas. But today, gambling has changed dramatically. It is now available virtually 24 hours a day on smartphones, tablets and computers, allowing anyone to place bets from the comfort of home in just a matter of seconds. And there are more local casinos targeting seniors, just a short drive away.
A recent cover story in the AARP Bulletin, entitled “Beaten by the Odds,” describes a growing and troubling trend: increasing numbers of retirees and older Americans are becoming involved in online gambling, sometimes with devastating financial and emotional consequences.
The article explains that the rapid expansion of legalized sports betting, online casinos, poker sites and other gambling apps has created an environment unlike anything previous generations experienced. Aggressive advertising, constant promotions, and the ease of electronic payments have made gambling more accessible—and potentially more addictive—than ever before.
Many retirees have more free time than they did during their working years. Some are looking for entertainment, excitement, social interaction, or simply a way to relieve boredom or loneliness. What often begins as a fun group outing to the local casino or harmless recreation like a "gaming" app can gradually become a habit that is difficult to control.
The absence of the need to carry or use cash, combined with electronic payments and automatic deposits, may also make it easier to lose track of how much money is actually being spent.
For many older adults, these losses can be particularly damaging because they are frequently using retirement savings that may never be replaced. Unlike younger workers who may have decades of future earnings ahead of them, retirees often have limited opportunities to recover from significant financial setbacks.
Unfortunately, gambling addiction is frequently hidden. Family members may not recognize a problem until substantial losses have already occurred.
Some Warning Signs to Look For
- Increasing amounts of time spent on gambling or ostensibly gaming websites or mobile apps.
- Increasing credit card balances, borrowing money or making unexplained withdrawals from savings or investment accounts.
- Hiding unexplained absences from home--possibly as a day trip with friends--or other gambling related activities.
- Anxiety, depression, irritability or mood changes related to lack of money.
- Neglecting normal financial responsibilities such as paying routine monthly bills.
Why This Matters for Estate Planning
In some cases, cognitive decline may also make an older adult more susceptible to impulsive financial decisions or unrealistic expectations about recovering earlier losses. While gambling alone does not indicate diminished mental capacity, declining capacity may make seniors more unable to resist the temptation to gamble. The time may have come for their Successor Trustee of their living trust to take over.
Trustees, agents acting under Durable Powers of Attorney, and close family members should remain alert to unusual financial transactions, particularly if they represent a significant departure from a person's lifelong spending habits.
One of the goals of comprehensive estate planning is not simply deciding who receives your assets after death, but helping protect those assets during your lifetime if illness, diminished judgment or other circumstances interfere with sound financial decision-making.
What Can Families Do?
Experts recommend discussing gambling openly and without judgment if concerns arise. Early intervention is generally much more successful than waiting until substantial losses have occurred.
Families should also encourage older relatives to maintain balanced social activities, hobbies, volunteer work and other meaningful pursuits that reduce boredom and isolation—two factors that sometimes contribute to problem gambling.
Finally, regular financial reviews can help identify unusual patterns before they become major problems. Trusted family members, financial advisors, attorneys and accountants may all play an important role in recognizing warning signs and helping protect retirement assets.
As estate planning attorneys, we spend our careers helping clients build, preserve and transfer wealth responsibly. Protecting your financial security during retirement includes being aware of risks that many people never expected to face—including the rapidly growing availability of online gambling.
Editor's Note: This article summarizes information discussed in the May/June 2026 AARP Bulletin cover story, “Beaten by the Odds.” We encourage readers interested in learning more to read the original AARP article for its more detailed discussion of this important topic.
