Many Canadians think they only spend $272 on gambling in a year - be it at casinos, horses, bingo or lotteries. In reality, they spend $1080 - thats 400% more than they believe they spend, according to a new report.

That figure is more than education and personal care - its closer to their cigarettes and alcohol spend and has increased rapidly over the last few years

However, in reality, its the small percentage of large gamblers that is pushing the figure so high - these 5% of the gambling population can spend on average in excess of $10-20,000 each

Read: Canadians lose 400% more gambling than they believe