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Torrance J, Heath C, Andrade M, Newall P. Gambling, cryptocurrency, and financial trading app marketing in English Premier League football: A frequency analysis of in-game logos. J Behav Addict 2023; 12:972-982. [PMID: 38015231 PMCID: PMC10786225 DOI: 10.1556/2006.2023.00066] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Grants] [Track Full Text] [Journal Information] [Submit a Manuscript] [Subscribe] [Scholar Register] [Received: 07/20/2023] [Revised: 10/16/2023] [Accepted: 11/10/2023] [Indexed: 11/29/2023] Open
Abstract
Background & aims The gamblification of UK football has resulted in a proliferation of in-game marketing associated with gambling and gambling-like products such as cryptocurrencies and financial trading apps. The English Premier League (EPL) has in response banned gambling logos on shirt-fronts from 2026 onward. This ban does not affect other types of marketing for gambling (e.g., sleeves and pitch-side hoardings), nor gambling-like products. This study therefore aimed to assess the ban's implied overall reduction of different types of marketing exposure. Methods We performed a frequency analysis of logos associated with gambling, cryptocurrency, and financial trading across 10 broadcasts from the 2022/23 EPL season. For each relevant logo, we coded: the marketed product, associated brand, number of individual logos, logo location, logo duration, and whether harm-reduction content was present. Results There were 20,941 relevant logos across the 10 broadcasts, of which 13,427 (64.1%) were for gambling only, 2,236 (10.7%) were for both gambling and cryptocurrency, 2,014 (9.6%) were for cryptocurrency only, 2,068 (9.9%) were for both cryptocurrency and financial trading, and 1,196 (5.7%) were for financial trading only. There were 1,075 shirt-front gambling-associated logos, representing 6.9% of all gambling-associated logos, and 5.1% of all logos combined. Pitch-side hoardings were the most frequent marketing location (52.3%), and 3.4% of logos contained harm-reduction content. Discussion & Conclusions Brand logos associated with gambling, cryptocurrency, and financial trading are common within EPL broadcasts. Approximately 1 in 20 gambling and gambling-like logos are subject to the EPL's voluntary ban on shirt-front gambling sponsorship.
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Affiliation(s)
- Jamie Torrance
- School of Psychology, Swansea University, UK
- School of Psychology, University of Chester, UK
- School of Psychology, University Centre Shrewsbury, UK
| | - Conor Heath
- School of Psychology, University of Chester, UK
- School of Psychology, University Centre Shrewsbury, UK
| | - Maira Andrade
- School of Psychology, University of East London, UK
- School of Psychological Science, University of Bristol, UK
| | - Philip Newall
- School of Psychological Science, University of Bristol, UK
- Experimental Gambling Research Laboratory, School of Health, Medical and Applied Sciences, CQ University, Australia
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Azevedo NP, Santos P, Sá L. Gambling Disorder among Porto's University Students. Healthcare (Basel) 2023; 11:2527. [PMID: 37761724 PMCID: PMC10530893 DOI: 10.3390/healthcare11182527] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Grants] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 06/10/2023] [Revised: 08/31/2023] [Accepted: 09/11/2023] [Indexed: 09/29/2023] Open
Abstract
BACKGROUND Gambling disorder is an emerging problem among young adults and must be researched to provide the necessary support. This study aims to characterise gambling disorders in Porto's university students. METHODS A cross-sectional study distributed an online questionnaire to Porto's university students. The authors developed a self-administered questionnaire that included the South Oaks Gambling Screen questionnaire-Portuguese Version (SOGS-PV). RESULTS A total of 1123 responses were included. The participants' average age was 22.4 years (SD = 6.2), and 60.9% were women. Gambling activities were performed by 66.4% of the students, most commonly online or video games, "scratch card" games, skill games, lotteries, and sports bets. The final scores of the SOGS-PV suggested 19.7% (95% CI: 17.4-22.0) of students may have a gambling disorder, with 16.6% (95% CI: 14.4-18.8) being "probable pathological gamblers" and 3.1% (95% CI: 2.1-4.1) being "problem gamblers". Gambling in the stocks/commodities market/virtual coins, sports bets, playing cards for money, and the numbers or betting on lotteries presents a higher risk of gambling disorder. The age (OR: 0.953; 95% CI: 0.922-0.986), being male (OR: 2.756; 95% CI: 1.899-4.000), the highest daily gambling amount (OR: 3.938; 95% CI: 2.580-6.012), the effects of the COVID-19 pandemic (OR: 0.129; 95% CI: 0.087-0.191), a mother with gambling disorder (OR: 5.284; 95% CI: 1.038-26.902), the personal services education area (OR: 2.858; 95% CI: 1.179-6.929), and the linguistics education area (OR: 2.984; 95% CI: 1.538-5.788) stand out as contributing factors to the development of this disorder. CONCLUSIONS This study reveals a high level of possible gambling disorder among university students and emphasises the importance of this problem in the academic community. Physician awareness and prevention programmes are needed in this population.
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Affiliation(s)
- Nádia Pais Azevedo
- Department of Community Medicine, Information and Health Decision Sciences (MEDCIDS), Faculty of Medicine, University of Porto, 4200-393 Porto, Portugal; (P.S.); (L.S.)
| | - Paulo Santos
- Department of Community Medicine, Information and Health Decision Sciences (MEDCIDS), Faculty of Medicine, University of Porto, 4200-393 Porto, Portugal; (P.S.); (L.S.)
- Center for Health Technology and Services Research (CINTESIS@RISE), Department of Community Medicine, Information and Health Decision Sciences (MEDCIDS), Faculty of Medicine, University of Porto, 4200-393 Porto, Portugal
| | - Luísa Sá
- Department of Community Medicine, Information and Health Decision Sciences (MEDCIDS), Faculty of Medicine, University of Porto, 4200-393 Porto, Portugal; (P.S.); (L.S.)
- Center for Health Technology and Services Research (CINTESIS@RISE), Department of Community Medicine, Information and Health Decision Sciences (MEDCIDS), Faculty of Medicine, University of Porto, 4200-393 Porto, Portugal
- Nova Via Health Unit, ACesS Espinho-Gaia, 4405-535 Valadares, Portugal
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ŞENTÜRK E, COŞAR B, ARIKAN Z. Relationship of Cryptocurrencies with Gambling and Addiction. PSIKIYATRIDE GUNCEL YAKLASIMLAR - CURRENT APPROACHES IN PSYCHIATRY 2023. [DOI: 10.18863/pgy.1127924] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 02/27/2023]
Abstract
Cryptocurrencies has been considered as both an investment tool and a great invention that will replace money and change the world order. Although crypto currency trading has been investigated in many aspects, the psychological dimension that directly affects investors has often been ignored. Control of cryptocurrency trading is in the hands of investors rather than a central authority or institution. Thus, the value of cryptocurrencies changes with the reactions of investors. This situation suggests that psychological factors may be more prominent in cryptocurrency trading. Cryptocurrency trading has many similarities with gambling and betting, such as risk taking, getting quick returns, extreme gains or losses. Some significant components of behavioral addiction are also seen in individuals who spend so much time with cryptocurrency trading. The purpose of this article is to provide a better understanding of the psychological effects of cryptocurrency trading, which has entered our lives over a relatively brief period of time and reached millions of investors.
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Son M, Jeong GC. Influence of Sensation Seeking and Life Satisfaction Expectancy on Stock Addiction Tendency: Moderating Effect of Distress Tolerance. Behav Sci (Basel) 2023; 13:bs13050378. [PMID: 37232615 DOI: 10.3390/bs13050378] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 03/13/2023] [Revised: 04/27/2023] [Accepted: 05/03/2023] [Indexed: 05/27/2023] Open
Abstract
Due to the COVID-19 pandemic, a very low interest rate policy was economically applied in Korea, and various investment activities through loans were activated. Real estate and stock prices rose rapidly, and many people became involved in stock investments because of economic instability. However, hastily started investment behavior resulted in economic loss and addictive behavior in stocks. The phenomenon of using stock investment to satisfy individual sensation seeking or addictive dependence on stocks due to lowered life satisfaction expectancy can become a serious social problem. However, the improvement of distress tolerance and the ability to endure pain despite frequent stock price fluctuations or lowered life satisfaction expectancy would be good alternatives to prevent stock addiction tendency. Therefore, the purpose of this study is to test the moderating effect of distress tolerance on the effect of adults' sensation seeking and life satisfaction expectancy in stock addiction tendencies. The participants were 272 adults with stock investment experience. As a result, distress tolerance significantly moderated the positive effect of sensation seeking on stock addiction tendency. In addition, life satisfaction expectancy did not significantly increase in the group with high distress tolerance even if life satisfaction expectancy was lowered. These results suggest that stock addiction can be prevented by enhancing distress tolerance.
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Affiliation(s)
- Myounghwan Son
- Department of Counseling Psychology, Graduate School, Sahmyook University, Seoul 01795, Republic of Korea
| | - Goo-Churl Jeong
- Department of Counseling Psychology, College of Health and Welfare, Sahmyook University, Seoul 01795, Republic of Korea
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Steinmetz F. The interrelations of cryptocurrency and gambling: Results from a representative survey. COMPUTERS IN HUMAN BEHAVIOR 2023. [DOI: 10.1016/j.chb.2022.107437] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/15/2022]
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Oksanen A, Hagfors H, Vuorinen I, Savolainen I. Longitudinal perspective on cryptocurrency trading and increased gambling problems: a 3 wave national survey study. Public Health 2022; 213:85-90. [PMID: 36395684 DOI: 10.1016/j.puhe.2022.10.002] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Received: 07/19/2022] [Revised: 08/31/2022] [Accepted: 10/04/2022] [Indexed: 11/17/2022]
Abstract
OBJECTIVES Cryptocurrency trading has gained popularity over the last few years. Trading is facilitated by online platforms that enable 24/7 trading. Cryptocurrency trading is potentially attractive to gamblers, and it may increase their gambling problems. Furthermore, cryptocurrency trading might be a particularly harmful activity for those gambling offshore. We investigated whether cryptocurrency trading predicts excessive gambling over time. We also analyzed how cryptocurrency trading combined with offshore gambling is associated with excessive gambling. STUDY DESIGN This was a population-based longitudinal survey study. METHODS We surveyed a sample of Finnish people aged 18-75 years (N = 1022, 51.27% male) at three time points in 6-month intervals: April 2021 (T1), October to November 2021 (T2), and April to May 2022 (T3). Of the original T1 respondents, 66.80% took part in T2 and T3. Outcome measure was excessive gambling using the Problem Gambling Severity Index, and the predictor was cryptocurrency trading. We adjusted models for onshore and offshore gambling online, excessive gaming (Internet Gaming Disorder Test), excessive internet use (Compulsive Internet Use Scale), excessive alcohol use (Alcohol Use Disorders Identification Test), and sociodemographic background factors. We used multilevel regression models to investigate within-person and between-person effects. RESULTS Cryptocurrency trading has increased in popularity over time. Within-person changes in cryptocurrency trading predicted increased excessive gambling. Excessive gambling was also generally more common among cryptocurrency traders. The full model that was adjusted for the number of confounding factors showed that cryptocurrency trading had a within-person effect on excessive gambling. Of the confounding factors, offshore online gambling, excessive gaming, and excessive internet use had within-person effects on excessive gambling. Offshore and onshore online gamblers and excessive gamers showed more excessive gambling than others. Those participants who were both cryptocurrency traders and offshore gamblers showed significantly higher rate of excessive gambling than others. CONCLUSIONS Cryptocurrency trading is a risky activity and associated with a higher rate of excessive gambling over time. Such activity is especially risky among offshore online gamblers, who could view cryptocurrency trading as another form of gambling or as a way to make money for gambling. Policymakers and counselors should be aware of the risks of cryptocurrency trading.
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Affiliation(s)
- A Oksanen
- Faculty of Social Sciences, Tampere University, Finland.
| | - H Hagfors
- Faculty of Social Sciences, Tampere University, Finland
| | - I Vuorinen
- Faculty of Social Sciences, Tampere University, Finland
| | - I Savolainen
- Faculty of Social Sciences, Tampere University, Finland
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Weidner L. Gambling and financial markets a comparison from a regulatory perspective. FRONTIERS IN SOCIOLOGY 2022; 7:1023307. [PMID: 36479159 PMCID: PMC9719960 DOI: 10.3389/fsoc.2022.1023307] [Citation(s) in RCA: 1] [Impact Index Per Article: 0.5] [Reference Citation Analysis] [Abstract] [Key Words] [Grants] [Track Full Text] [Subscribe] [Scholar Register] [Received: 08/19/2022] [Accepted: 11/02/2022] [Indexed: 06/17/2023]
Abstract
This article discusses similarities between the finance industry and the gambling industry. It considers empirical studies from both fields and compares both industries with regard to possible substitution effects. Afterwards, the current regulatory approach to gambling and financial markets is discussed. Based on this literature review, the author points out that regulators need to acknowledge the fact that both markets possess addictive properties and attract certain risk-seeking individuals. Moreover, the regulators need to find a way to align their fundamentally different objectives to find common solutions to cross-industry problems. Finally, an increased cooperation between (state) authorities is necessary. This cooperation could help to protect traders from developing gambling-related problems, provide significant insights for industry-wide and product-specific regulation and lead to a more informed use of technology for harm prevention purposes. The most important similarities and differences of both markets and the resulting regulatory implications are briefly summarized.
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Marsden J, Brown J, Clark L, Cousijn J, Hall W, Hickman M, Holmes J, Humphreys K, Jackson SE, Peacock A, Tucker J. The impact of the COVID-19 pandemic on addictive disorders-an update. Addiction 2022; 117:2762-2766. [PMID: 36068188 DOI: 10.1111/add.16033] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Key Words] [Track Full Text] [Journal Information] [Submit a Manuscript] [Subscribe] [Scholar Register] [Received: 08/10/2022] [Accepted: 08/10/2022] [Indexed: 11/30/2022]
Affiliation(s)
| | | | - Luke Clark
- University of British Columbia, Vancouver, BC, Canada
| | | | - Wayne Hall
- University of Queensland, Brisbane, QLD, Australia
| | | | | | - Keith Humphreys
- Veterans Affairs and Stanford University Medical Centers, Palo Alto, CA, USA
| | | | - Amy Peacock
- University of New South Wales, Sydney, NSW, Australia
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Newall PWS, Weiss-Cohen L. The Gamblification of Investing: How a New Generation of Investors Is Being Born to Lose. INTERNATIONAL JOURNAL OF ENVIRONMENTAL RESEARCH AND PUBLIC HEALTH 2022; 19:ijerph19095391. [PMID: 35564790 PMCID: PMC9105963 DOI: 10.3390/ijerph19095391] [Citation(s) in RCA: 3] [Impact Index Per Article: 1.5] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Download PDF] [Subscribe] [Scholar Register] [Received: 03/22/2022] [Revised: 04/14/2022] [Accepted: 04/24/2022] [Indexed: 11/16/2022]
Abstract
Investing and gambling share key features, in that both involve risk, the coming together of two or more people, and both are voluntary activities. However, investing is generally a much better way than gambling for the average person to make long-run profits. This paper reviews evidence on two types of “gamblified” investment products where this advantage does not hold for investing: high-frequency stock trading and high-risk derivatives. This review defines a gamblified investment product as one that leads most investors to lose, that attracts people at risk of experiencing gambling-related harm, and that utilizes product design principles from gambling (either by encouraging a high frequency of use or by providing the allure of big lottery-like wins). The gamblification of investing produces novel challenges for the regulation of both financial markets and gambling.
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Affiliation(s)
- Philip W. S. Newall
- School of Psychological Science, University of Bristol, Bristol BS8 1TU, UK
- Correspondence:
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