Crypto-currency Trading Among Regular Gamblers: A New Risk for Problem Gambling?
Session Title
Session 2-3-A: Problem Gambling and Emerging Technology
Presentation Type
Event
Location
Caesars Palace, Las Vegas, Nevada
Start Date
29-5-2019 1:45 PM
End Date
29-5-2019 3:10 PM
Disciplines
Psychology | Social Work
Abstract
Abstract
Crypto-currency or “crypto” is digital money that can be used to fund risk-taking activities anonymously via the Internet (e.g., drugs, gambling). There is growing concern in the field of gambling studies that trading cryptos will appeal to high-risk gamblers. The present study assessed the prevalence of crypto trading among regular gamblers and its relationship to problem gambling severity. Adults (18+) who gambled at least monthly in the past year were recruited through Amazon’s Mechanical Turk (N = 876; 58.33% male) and completed the Problem Gambling Severity Index, Patient Health Questionnaire, and Generalized Anxiety Disorder scale via an online survey. More than half of the sample indicated they had traded cryptos in the past year. Crypto trading was strongly associated with higher levels of high-risk stock trading (r = .67), greater problem gambling severity (r = .53), and modestly associated with both anxiety (r = .20) and depressive symptoms (r = .20). Results from a linear regression revealed that sports betting, daily fantasy sports, high-risk stock trading, and problem gambling severity were positive predictors of crypto trading frequency, whereas gambling in land-based casinos was a negative predictor. Implications for problem gambling education, screening, and treatment will be discussed.
Implications Statement
The present findings represent an initial assessment of the prevalence of cryptocurrency trading among regular gamblers, and its relation to problem gambling. Future research should begin to include cryptocurrency trading in screening, assessment, and treatment protocols, particularly with regular gamblers.
Keywords
Gambling; Cryptocurrency; Addiction; Mental Health; Stock Market
Funding Sources
None
Competing Interests
None
Crypto-currency Trading Among Regular Gamblers: A New Risk for Problem Gambling?
Caesars Palace, Las Vegas, Nevada
Abstract
Crypto-currency or “crypto” is digital money that can be used to fund risk-taking activities anonymously via the Internet (e.g., drugs, gambling). There is growing concern in the field of gambling studies that trading cryptos will appeal to high-risk gamblers. The present study assessed the prevalence of crypto trading among regular gamblers and its relationship to problem gambling severity. Adults (18+) who gambled at least monthly in the past year were recruited through Amazon’s Mechanical Turk (N = 876; 58.33% male) and completed the Problem Gambling Severity Index, Patient Health Questionnaire, and Generalized Anxiety Disorder scale via an online survey. More than half of the sample indicated they had traded cryptos in the past year. Crypto trading was strongly associated with higher levels of high-risk stock trading (r = .67), greater problem gambling severity (r = .53), and modestly associated with both anxiety (r = .20) and depressive symptoms (r = .20). Results from a linear regression revealed that sports betting, daily fantasy sports, high-risk stock trading, and problem gambling severity were positive predictors of crypto trading frequency, whereas gambling in land-based casinos was a negative predictor. Implications for problem gambling education, screening, and treatment will be discussed.
Implications Statement
The present findings represent an initial assessment of the prevalence of cryptocurrency trading among regular gamblers, and its relation to problem gambling. Future research should begin to include cryptocurrency trading in screening, assessment, and treatment protocols, particularly with regular gamblers.
Comments
None