"One can literally throw away thousands of euro a day," the Kilkenny TD said.
According to a recent UCD study, there are over 40,000 people in Ireland with gambling addictions, with single men under 35 most at risk, Deputy Bobby Aylward told the Dáil.
Speaking during a debate on a Fianna Fáil Bill on gambling, he said this is very much a silent addiction which can escalate and get out of control very quickly.
“If one is a problem gambler with an online betting account that has no spending limit, one can literally throw away thousands of euro a day,” he said.
There is a need for effective regulation for this industry to give those who work in the sector certainty through socially responsible gambling, he said.