The stock market as a casino: Associations between stock market trading frequency and problem gambling

Gambling, cryptocurrency, and financial trading app marketing in English Premier League football: A frequency analysis of in-game logos

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.

Gambling Disorder among Porto's University Students

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.

Relationship of Cryptocurrencies with Gambling and Addiction

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.

Influence of Sensation Seeking and Life Satisfaction Expectancy on Stock Addiction Tendency: Moderating Effect of Distress Tolerance

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.

Longitudinal perspective on cryptocurrency trading and increased gambling problems: a 3 wave national survey study

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.

Gambling and financial markets a comparison from a regulatory perspective

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.

The Gamblification of Investing: How a New Generation of Investors Is Being Born to Lose

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.