School of Psychological Science, University of Bristol, Bristol BS8 1TU, UK.
Department of Psychology, Kingston University, London KT1 2EE, UK.
Int J Environ Res Public Health. 2022 Apr 28;19(9):5391. doi: 10.3390/ijerph19095391.
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.
投资和赌博有一些关键的共同特征，例如都涉及风险、涉及两个或多个参与者，而且都是自愿的活动。然而，对于一般人来说，投资是一种比赌博更好的长期获利方式。本文综述了两种“赌博化”投资产品的证据，在这两种产品中，投资并不比赌博有优势：高频股票交易和高风险衍生品。本文将“赌博化”投资产品定义为导致大多数投资者亏损、吸引有赌博相关伤害风险的人群，并且利用赌博产品设计原则（无论是通过鼓励高频使用还是提供类似彩票大奖的吸引力）的投资产品。投资的“赌博化”给金融市场和赌博的监管都带来了新的挑战。
