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Totally hooked: Angling, gambling, and ‘fishing addiction’
A few days ago, I published a short paper with Dr. Michael Auer examining the concept of ‘fishing addiction’ and the similarities with gambling addiction in the Archives of Behavioral Addiction. Fishing and gambling are two activities that on the surface do not appear to have much in common with each other. For many people, they are both simply leisure activities and this is where the similarities stop.
So in what ways are fishing and gambling similar? In the broadest of senses, gambling and fishing are not too dissimilar. As Dr. Gary Smith and his colleagues noted in a 2003 report, the word ‘gambling’ in day-to-day language has broad currency and can describe a number of activities such as “farming, fishing, searching for oil, marriage or even crossing a busy street”. More specifically, in a 2011 chapter on stress among fisherman, Dr. Richard Pollnac and colleagues noted that “a fisher is basically gambling every time he/she goes out fishing” and that like gambling “production per fishing trip is highly variable and relatively unpredictable”. An earlier 2008 paper by Pollnac and John Poggie highlighted that marine fishing as an occupation is of a relative risky nature and state that it attracts and holds individuals manifesting an active, adventurous, aggressive and courageous personality – attributes that arguably apply to some types of competitive gamblers, such as poker players.
According to a 2013 online article by Dr. Per Binde (2013), who describes himself as a gambling researcher that enjoys fishing in his spare time, gambling and fishing have many similarities “especially if you consider bait casting (spinning) in relation to repetitive forms of gambling, such as slot machines”. A 2013 online article by Whitney James (2013) has also made a similar observation that “pulling a penny slot is like casting your line. It doesn’t take a lot of effort but the payout is sometimes sweet”. In fact, both Binde and James have noted a number of distinct similarities and the list below combines these along with some of our own observations:
- In both activities, the participant repeats the same behaviour over and over again in the hope that they will attain something of material value.
- Both activities lead to mood modifying experiences and can be both relaxing and exciting.
- Both activities can result in the person forgetting about time and engaging in the activity for much longer than the person originally intended (because of the escape-like qualities of engaging in the activity).
- Both activities involve ‘near misses’ that reinforce the behaviour (or as Dr. Binde says “one reel symbol slightly out of place for a jackpot; bites and nibbles of fish that does not get hooked”).
- Success in either activity may be a combination of skill and chance, and winning or catching a fish give the individuals concerned a sense of achievement and mastery. Furthermore, the person engaging in these activities may not be able to differentiate between what was skill and what was chance (or as Dr. Binde says: “was my choice of bait successful or was it just luck that I caught a big fish?”).
- In both activities, the ‘availability bias’ comes into play. More specifically, the few big successes (i.e., catching a really big fish or winning a large amount of money) are highly memorable while all the many other occasions when the person lost all their money or caught nothing are easily forgotten.
- In both activities, superstitious rituals are commonplace (wearing a ‘lucky’ cap, spitting on the lure, etc.). As I noted in a 2005 paper I co-wrote with Carolyn Bingham in the Journal of Gambling Issues, there are certain groups within society who tend to hold more superstitious beliefs than what may be considered the norm including sportsmen, actors, miners, fishermen, and gamblers.
- In both activities, when things are not going right (i.e., not winning, not catching any fish), the person then tries the same thing somewhere else (a gambler changes table or slot machines, or goes to a new gaming venue; a fisherman changes his bait or tries another place in the river or a new river entirely).
- In both activities, one win or one fish caught is never enough.
- Both activities are potentially addictive (“ask either addict’s wife and they will confirm” said Whitney James).
- In both activities, families forgive the person if they bring something home with them (i.e., winnings or fresh fish).
- Finally, (and somewhat tongue-in-cheek) both activities (according to Whitney James) “are better with a drink in hand”.
Another similarity is that both activities can prove an expensive pastime. While this could be said comparing any two leisure activities, in a 2004 qualitative interview study of seven male high frequency betting shop gamblers published in the journal Addiction Research and Theory, Dr. Tom Ricketts and Ann Macaskill, the gamblers justified the amount spent on gambling by contrasting the amount they spent on other leisure pursuits like fishing. As one gambler said: “Like some people go fishing…and that costs a lot more than what it does with gambling. So that’s the way I see it, really, you pay for your hobbies”.
Another qualitative interview study of seven male online poker players by myself and Dr. Adrian Parke in a 2012 issue of Addiction Research and Theory highlighted that some of the players use fishing analogies to describe their card play. It emerged clearly from one interview that a player could profit in both offline and online forms of gambling by manipulating various forms of information technology. As the authors noted:
“The significance of this belief was moderated in the sense that although participants professed that such profitable control was indeed possible, they indicated that there were also negative consequences of gambling in a controlled and profitable manner. This profitable, yet restricted form of gambling was described by one participant as ‘trawling’, highlighting the demanding and onerous nature of the activity… The use of the term ‘trawling’ for such forms of controlled gambling conveys an impression that is similar to commercial sea fishing (i.e. not only is it an arduous task but also several external factors influence profitability such as luck)”.
Dr. Binde also claimed that it is unsurprising that individuals that want to cease their excessive gambling often find sport fishing a suitable ‘substitution’ leisure activity. He then goes on to argue that fisherman only risk losing time rather than money but then adds:
“Sport fishing gear may cost a bit and fishermen may get the idea that better gear would make fishing more successful. There are people, however, who have problems controlling the extent of their sport fishing and who perceive it as a kind of addiction”.
A 2009 online article by R. Pendleton draws similarities between fishing tournaments in Hawaii and poker tournaments. He cites Dr. Marc Miller, a cultural anthropologist and professor at the University of Washington, who theorized that there are four phases of tournament fishing that correspond to those found in gambling.
“The first phase is ‘squaring off’, which begins when the anglers board their boat, choose their tackle and the area they intend to fish, and go steaming off to the grounds. It is rather like the gambler with a handful of chips checking out the gaming tables, he noted, but it abruptly ends when the lines hit the water. The second is the determination phase, Miller said. Like the gambler’s blackjack table, this is where the action is. The angler is fishing and fate is in charge. It only ends when the ‘stop fishing’ signal is given. The angler enters the third phase – ‘the disclosure’ – when the fishing is over. Again like the gambler’s hand of cards, it is time for the fisherman to put his catch up for weighing and judging – to finally show what he’s got. Finally comes the ‘settlement phase’ of tournament fishing when the angler’s score is posted and the results are compared with the other fishermen in the contest, rather like when the gambler must settle up with the dealer”.
As far as I am aware, there has never been a study of ‘fishing addiction’ in the psychological literature although there are a few references to it and/or compulsive fishing. Similar to Whitney James’ observation above about wives knowing if their husbands are addicted to fishing or gambling, the 2008 paper by Pollnac and Poggie noted that:
“A commercial crabber from Alaska said, ‘As any fisherman’s wife will tell you, fishing is an addiction. And for commercial fishermen, consider it a gambling addiction’ (Arnold 2006). This is an insightful observation, fishing is like an addiction, and most fishermen would do anything to avoid the potentially painful withdrawal symptoms”.
Bill Glasser, author of the 1976 book Positive Addiction, noted that fishing was one of many ‘positive addictions’ in a later (2012) paper on the topic (in the Canadian Journal of Counselling and Psychotherapy). More specifically, he claimed that he had heard numerous stories from many different individuals claiming they were ‘positively addicted “to a variety of activities such as swimming, hiking, bike riding, yoga, Zen, knitting, crocheting, hunting, fishing, skiing, rowing, playing a musical instrument, singing, dancing, and many more”. Glasser argued that activities such as jogging and transcendental meditation were positive addictions and were the kinds of activity that could be deliberately cultivated to wean addicts away from more harmful and sinister preoccupations. He also asserted that positive addictions must be new rewarding activities that produce increased feelings of self-efficacy.
Glasser’s (1976) own criteria for positive addictions are that the activities must (i) be non-competitive and needing about an hour a day, (ii) be easy, so no mental effort is required, (iii) be easy to be done alone, not dependent on people, (iv) be believed to be having some value (physical, mental, spiritual), (v) be believed that if persisted in, some improvement will result, and (iv) involve no self-criticism. Although ‘fishing addiction’ arguably meets these criteria, I argued in a 1996 paper in the Journal of Workplace Learning that Glasser’s criteria have little to with accepted criteria for addictive behaviour such as salience, mood modification, tolerance, conflict, withdrawal, loss of control, and relapse. Therefore, although Glasser believes that addiction to fishing is a positive addiction, I would argue that ‘fishing addiction’ using Glasser’s criteria is not really an addiction.
In an online article on ‘The psychology of fishing addiction’ (In The Bite, 2014), addiction psychotherapist Alexandria Stark asserted that although fishing addiction was not recognized in the psychiatric community, the American Psychiatric Association’s criteria of Gambling Disorder in the DSM-5 could be adapted to screen for whether someone is a fishing addict. Additionally, a 2007 paper in the journal Parkinsonism and Related Disorders by Dr. Andrew McKeon and colleagues reported seven case studies of “unusual compulsive behaviors” following treatment for Parkinson’s disease with dopamine agonist therapy. One of the seven cases was a 48-year-old man who had been diagnosed with Parkinson’s disease at the age of 43 years and was taking daily doses of levodopa [300mg], ropinirole [24mg] and selegeline [5mg]. It was reported that the man suddenly “developed an intense interest and fascination with fishing” even though he had little prior interest in the activity. His wife reported that her husband was fishing incessantly for day after day, and that even though he caught nothing his interest in fishing did not diminish.
Pollnac and Poggie who have carried out lots of research into professional fisherman have speculated that professional fisherman and gamblers may have similar personality types and similar biological pre-dispositions. They speculated that if professional fisherman had not had gone into the fishing profession, they may have ended up as drug addicts or gambling addicts. More specifically, they noted that:
“The possible existence of a genetic component related to an active, adventurous, aggressive, and courageous personality type should not be surprising. Fishermen manifesting this personality type are more successful as would be the hunters and gatherers who provided sustenance for human populations through most of the time humans have been on earth. This genetic component, which would have been advantageous for early humans, served us well, but when it was no longer needed, its frequency in human populations probably started a slow decline. It still exists, however, and those lucky (or unfortunate) to have it have to find other outlets for their need for novelty and adventure – risky sports and high stakes gambling, recreational hunting, marine sport fishing, and risky jobs like firefighting, policing, futures trading in the stock market, etc. Those who do not find other outlets or who may be misguided turn to self destructive behavior such as addictive gambling, crime (high risk) and substance abuse (LeGrand et al. 2005). Fortunately for fishermen, the occupation of fishing, a risky occupation, can provide a certain level of adventure accompanied by various risks and hence, serve as a socially acceptable outlet for their need for action and adventure while increasing their levels of satisfaction and happiness”.
In our just published paper, we visited various online discussion forums dedicated to fishing (e.g., Big Fish Tackle [www.bigfishtackle.com] and Angling Addicts [http://www.anglingaddicts.co.uk]) and located a number of fishermen that claimed their fishing was an addiction and/or had addiction-like properties (a selection of self-reports that we found are published in the paper). We argued that these self-reports have existential value and provide informal data that could be more formally investigated in future studies. In one of our cases, the individual was totally preoccupied by fishing even though he was not fishing every day (in fact, twice a week maximum). He thought about fishing all the time and it appeared to be the single most important thing in his life. If he couldn’t actually fish he was watching online fishing videos, watching fishing television programmes, playing fishing videogames, or on online fishing forums. Here, the individual appeared to display cross-tolerance (i.e., when unable to fish he engaged in other fish-related activities such as playing a fishing videogame). The only activity that made him want to get out of bed was fishing. The description of his behaviour is arguably one of the best working definitions of salience that you could find. For want of a better word, he was totally obsessed with fishing.
In another case, fishing was actually described by the individual as an addiction and that his wife made him cut back on his fishing. The way he overcame his urge to fish was to get a job that involved fishing which not only met his fishing needs but resolved the conflict in his relationship as his wife no longer cared that he was fishing every day when it became his full-time job. In another case, the individual described withdrawal symptoms if he was unable to fish and that he got “the shakes” if he was unable to fish, similar to an alcoholic who gets the shakes (i.e., delirium tremens) when unable to drink. Another case specifically described fishing in extreme cases as an addiction and something that has been with him (and will be with him) for life.
A further case described fishing as an addiction and how he first got involved with fishing (i.e., being in Florida near water meant that fishing excursions were readily and easily available). He provided an example of relapse in that he had been able to give up fishing for a period in his life (because there was no opportunity for his to fish), only for it to return at a later point. Another case likened fishing to drug use and that once someone had tried fishing they have to go back for more. For want of a better word they become ‘hooked’ (no pun intended but another linguistic example of the association between fishing and addiction).
One individual described how he was given an ultimatum by his wife, and as a consequence, he chose fishing over the relationship. Obviously his fishing was causing relationship problems and when it came to make a decision, he decided he loved fishing more than his wife and can now fish whenever he wants without his ex-wife interfering or passing negative comment on his desire to fish. By removing his wife from his day-to-day activity, the fishing presumably became a non-problematic behaviour. Another individual described fishing as an activity that has become constant in his life and was not just a phase that they are going through.
In a nutshell, our paper attempted to examine whether – in extreme cases – fishing could be characterised as an addiction, and also attempted to argue that there are many commonalities between excessive fishing and another behavioural addiction (i.e., gambling addiction). It does appear to have addiction-like properties and that some fishers describe their fixation on fishing as an addiction akin to problematic drug use and/or gambling. However, our paper didn’t argue that fishing addiction exists, just that some people (including fishers themselves) conceptualise their excessive behaviour as an addiction and that a few scholars have asserted that in extreme cases, fishing may be a behaviour that can be potentially addictive.
Dr. Mark Griffiths, Professor of Behavioural Addiction, International Gaming Research Unit, Nottingham Trent University, Nottingham, UK
Arnold, C. 2006. A crabbers’ life. National Fisherman 87, 6, 22-25.
Binde, P. (2013). Fishing and gambling. The Anthropology of Gambling, August 31. Retrieved August 1, 2016, from: http://ongambling.org/fishing-and-gambling (last accessed May 15, 2015)
Glasser, W. (1976), Positive Addictions. New York, NY: Harper & Row.
Glasser, W. (2012). Promoting client strength through positive addiction. Canadian Journal of Counselling and Psychotherapy, 11(4), 173-175.
Griffiths, M.D. (1996). Behavioural addictions: An issue for everybody? Journal of Workplace Learning, 8(3), 19-25.
Griffiths, M.D. (2005). A ‘components’ model of addiction within a biopsychosocial framework. Journal of Substance Use, 10, 191-197.
Griffiths, M.D. & Auer, M. (2019). Becoming hooked? Angling, gambling, and ‘fishing addiction’. Archives of Behavioral Addiction, 1(1), .
Griffiths, M.D. & Bingham, C. (2005). A study of superstitious beliefs among bingo players. Journal of Gambling Issues, 13. Retrieved August 1, 2016, from http://jgi.camh.net/doi/full/10.4309/jgi.2005.13.7 (last accessed May 15, 2015)
In The Bite (2014). The psychology of fishing addiction. July 15. Retrieved August 1, 2016, from: http://www.inthebite.com/2014/07/the-psychology-of-fishing-addiction/ (last accessed May 15, 2015)
James, W. (2013). 8 reasons fishing is like gambling. Handwritten [Personal Blog]. Retrieved August 1, 2016, from http://whitneyljames.tumblr.com/post/52146316443/8-reasons-fishing-is-like-gambling (last accessed May 15, 2015)
McKeon, A., Josephs, K. A., Klos, K. J., Hecksel, K., Bower, J. H., Michael Bostwick, J., & Eric Ahlskog, J. (2007). Unusual compulsive behaviors primarily related to dopamine agonist therapy in Parkinson’s disease and multiple system atrophy. Parkinsonism and Related Disorders, 13(8), 516-519.
Parke, A., & Griffiths, M. (2012). Beyond illusion of control: An interpretative phenomenological analysis of gambling in the context of information technology. Addiction Research and Theory, 20(3), 250-260
Pendleton, R. (2009). Fishing is Hawaii’s legalized gambling. The Examiner, April 29. Retrieved August 1, 2016, from http://www.examiner.com/article/fishing-is-hawaii-s-legalized-gambling
Pollnac, R. B., Monnereau, I., Poggie, J. J., Ruiz, V., & Westwood, A. D. (2011). Stress and the occupation of fishing. In Langan-Fox, J. & Cooper, C.L. Handbook of Stress in the Occupations, 309-321. Cheltenham: Edward Elgar Publishing Ltd.
Pollnac, R. B., & Poggie, J. J. (2008). Happiness, well-being, and psychocultural adaptation to the stresses associated with marine fishing. Human Ecology Review, 15(2), 194
Prattis, J. I. (1973). Gambling, fishing and innovation – a cross situational study of decision making. International Journal of Comparative Sociology, 14(1-2), 76-88.
Ricketts, T., & Macaskill, A. (2004). Differentiating normal and problem gambling: A grounded theory approach. Addiction Research & Theory, 12(1), 77-87.
Smith, G. J., Wynne, H. J., & Hartnagel, T. F. (2003). Examining police records to assess gambling impacts: A study of gambling-related crime in the City of Edmonton. Edmonton: Alberta Gaming Research Institute
To err is to be human: A brief look at mistakes in poker playing
One of the most psychologically interesting questions concerning poker is ‘Why do so many people play so badly?’ It’s clear that most players know better, but they appear to make the same mistakes repeatedly. Given the hundreds of thousands of poker strategy books that are sold every year, we can only reach the conclusion that just a small percentage of poker players apply the skills they have read about. My hunch is that most people understand what they have read but when it comes to playing a competitive hand it’s simply more ‘fun’ to play badly than to play well. I’m not saying losing is more fun than winning (because quite clearly it isn’t), but the pursuit of profit maximization forces players to do things they don’t like doing. On a psychological level, maximizing profit makes extreme demands. Therefore, only a few, extraordinarily disciplined people play their best game most of the time – and nobody always plays it.
Most economists claim that gamblers are primarily driven by the profit motive. However, the psychological evidence is overwhelming that other desires affect gambling actions. Put simply, for most gamblers, our actions contradict the desire to maximize profits. Whilst I am no Freudian, there appear to be a whole range of unconscious factors at play in gambling situations.
One of the basic mistakes is playing too many hands. All the self-help books warn players against it but it is a common behaviour. In general, poker players find it boring to fold hand after hand. Players become more reckless and instead of folding, risk all in an attempt to get themselves out of a boredom rut. Even after losing, the poker player may ‘congratulate’ their play by defining it as ‘courageous’ when in the cold light of day, it was stupid. This type of adaptive thinking is common amongst gamblers who lose and should be avoided. Poker players often chase with weak hands for the same reason. Players will throw good money after bad in an effort to get even. Occasionally the strategy will pay off, but most of the time it won’t. In these situations, gamblers will invariably focus on the few times that chasing has got them out of a hole – but conveniently forget the many times that it didn’t.
Another common mistake is to playing too aggressively. Not only is this a male characteristic but is often the strategy of the game’s very top players. Again, such tactics occasionally pay off for the player in very tight games. However, in most gambling situations, playing aggressively is simply not called for yet players continue to do it. On the other hand, gamblers can sometimes play too passively. Gamblers constantly find good excuses to justify their playing styles. In these situations, gamblers simply remember the times they saved money by not betting or raising, ignoring the pots they lost by giving away free or cheap cards.
It’s also tempting to show your cards and most players will do it occasionally. If players make a successful bluff, it’s human nature to want to let people to know how smart they are. The golden rule in poker is never to give anything away but the human psyche works in such a way that we usually want to show off once in a while. Our psychological make-up also means that we let pride get in the way of minimizing losses. There are always games that should have been avoided but players end up staying in them long after they knew it was a mistake. None of us like to lose to who we think are weaker players, or admit that the game was too hard. How many times does a player continue playing because they want to try and get the better of a great player or show off because there is someone they are trying to impress? Although it’s a cliché, pride before a fall is commonplace. These short-term psychological satisfactions will almost always have a negative impact on long-term profits.
Because there are many non-financial types of rewards from many different sources while playing poker, some people view losses as the price of entry. To these players, winning may be a bonus. However, most of us don’t like losing – and we especially don’t like persistent losing, regardless of whether there are other types of reinforcement. In the cold light of day, we are all rational human beings. In the height of action, rationality often goes out the window. I’ve done it myself at the roulette table and standing in front of a slot machine. While gambling I have felt omnipotent (and wrote about this experience back in 1990 in an article on the dangers of doing observational research in amusement arcades). It is only after I walk away penniless that the non-financial rewards are short-term and not worth it.
Understanding our own psychological motives is clearly important while gambling. Most players know the strategies they should be adopting but fail to apply them in real gambling situations. Players do not lack the information. It is far more profitable to learn why we don’t apply the lessons we have already learned, then ensure that we apply them. Until we understand and control our own motives – including the unconscious ones – we cannot possibly play to our best ability.
Dr Mark Griffiths, Professor of Gambling Studies, International Gaming Research Unit, Nottingham Trent University, Nottingham, UK
Additional input from the writings of Alan Schoonmaker
Further reading
Biolcati, R., Passini, S. & Griffiths, M.D. (2015). All-in and bad beat: Professional poker players and pathological gambling. International Journal of Mental Health and Addiction, 13, 19-32.
Griffiths, M.D. (1990). The dangers of social psychology research. BPS Social Psychology Newsletter, 23, 20-23.
Griffiths, M.D., Parke, J., Wood, R.T.A. & Rigbye, J. (2010). Online poker gambling in university students: Further findings from an online survey. International Journal of Mental Health and Addiction, 8, 82-89.
McCormack. A. & Griffiths, M.D. (2012). What differentiates professional poker players from recreational poker players? A qualitative interview study. International Journal of Mental Health and Addiction, 10, 243-257.
Parke, A. & Griffiths, M.D. (2011). Poker gambling virtual communities: The use of Computer-Mediated Communication to develop cognitive poker gambling skills. International Journal of Cyber Behavior, Psychology and Learning, 1(2), 31-44.
Parke, A. & Griffiths, M.D. (2018). Identifying risk and mitigating gambling related harm in online poker. Journal of Risk Research, 21, 269-289.
Parke, A., Griffiths, M., & Parke, J. (2005) Can playing poker be good for you? Poker as a transferable skill. Journal of Gambling Issues, 14.
Recher, J. & Griffiths, M.D. (2012). An exploratory qualitative study of online poker professional players. Social Psychological Review, 14(2), 13-25.
Wood, R.T.A., Griffiths, M.D. & Parke, J. (2007). The acquisition, development, and maintenance of online poker playing in a student sample. CyberPsychology and Behavior, 10, 354-361.
Wood, R.T.A. & Griffiths. M.D. (2008). Why Swedish people play online poker and factors that can increase or decrease trust in poker websites: A qualitative investigation. Journal of Gambling Issues, 21, 80-97.
Teaming with gain: Are daily fantasy sports a form of gambling?
Fantasy sports games have been popular for many years and involves individuals assuming the role of a professional sports team manager (typically football) and assembling a virtual team of sportsmen to compete against other players within a private or public league. For decades, the game was played out across the whole season with the winners being those that had accumulated the most points (with the points gained being based on the real-life statistics of individual sportsmen using a predetermined scoring system).
However, fantasy sports have changed dramatically over the last few years. Although the game can still be played over a whole season, the playing of daily fantasy sports (DFS) has become increasing popular (particularly in countries such as the USA, Canada, and Australia) and can operate over much shorter time periods. In DFS, players can pay to play and this has led to the blurring of lines of whether the activity is a game or whether it is gambling. As Dr. Dylan Pickering and his colleagues noted in a 2016 issue of Current Addiction Reports:
“Daily fantasy sports (DFS) is the most recent and controversial of FS games…It is an accelerated version of FS conducted over much shorter time periods: generally a single game (per day) or weekly round of competition. Users pay entry fees ranging from US 25 cents to US $5000 per league, which is deposited into a prize pool typically paid out to the highest ranked users in the contest. A portion of the entry fees also goes to the operator as commission. Accordingly, DFS, as such, is most associated with wagering. Currently, the US DFS market is dominated by ‘FanDuel’ and ‘DraftKings’ (combined with about 95 % of the market)”.
According to figures in the same paper, in the USA, the fantasy sports (FS) market is currently estimated to be between $3 billion and $4 billion. In 2015, approximately 57 million Americans played FS. Research suggests that the prevalence rates are higher in North America than elsewhere with 19% of Canadian adults and 16% of American adults engaging in FS compared to 10% of British adults and 6% of Australian adults (Pickering et al., 2016). However, these figures relate to FS rather than DFS and many FS players do not pay money to participate in the game and simply play for fun. Some research by Dr. Joris Drayer and colleagues in a 2013 issue of the European Sport Management Quarterly also suggests that those who engage in playing DFS do not typically engage in other forms of gambling. Furthermore, in a 2011 issue of Journal of Sport Management, Dr. Brendan Dwyer and Dr. Yongjae Kim reported that compared to more traditional forms of gambling, the elements of fun, excitement, competition play a bigger role than winning money in the playing of DFS games.
A study carried out by Dr. Ryan Martin and Dr. Sarah Nelson published in a 2014 issue of Addictive Behaviors found that college students who were FS users (free and fee-based) were five times more likely to incur gambling problems than non-FS users, and students who played FS for money had significantly higher rates of gambling problems than those who played in free leagues. A more recent 2016 study by Loredana Marchica and Dr. Jeff Derevensky in the International Journal of Mental Health and Addiction examined data from national surveys of collegiate athletes and reported a steady rise in FS participation among college students between 2004 and 2012. They reported that approximately half of the male and a quarter of the female college athletes who qualified as at-risk or problem gamblers also reported wagering on FS.
There has been much debate (particularly by US legislators) as to whether playing DFS for money is classed as a legitimate form of gambling. If gambling is defined as “an agreement between two or more parties to deliberately stake something of value (typically money) with intent to profit on the outcome of an event that is determined wholly, or partially by chance” (by Pickering and colleagues), then DFS could well be a form of gambling as they argue:
“DFS can be construed as representing a form of gambling: (a) DFS includes an agreement between an individual and others, (b) money is staked on the relative performances of athletes across a certain number of sporting events with the outcome determined by both chance and skill, and (c) chance is involved given that multiple unknown factors can influence outcomes. In this regard, similarities are found in horse and sports wagering where some skill in selecting horse/sports outcomes is present, but unpredictable variables influence results (i.e., chance)…Literature from the legal field asserts that gambling must contain three elements: (a) consideration (staking something of value in order to participate), (b) chance (luck is a substantial factor in determining results), and (c) prizes (cash, merchandise, services, or points) are redeemable…While the first and third elements are clearly present in DFS, the second element, chance, is the source of current disagreement”.
The US legislation on gambling rests on whether an activity is more skill than chance determined. If DFS is predominantly a game of skill it is not deemed to be a form of gambling. The DFS operators claim that DFS games are not gambling because of the “substantial” amount of skill involved in the selection and management of FS teams. But is this any different for the professional gambler who bets on horse racing given the many factors that the person gambling has to take into account (the form of the horse, the skill of the jockey, the weather conditions, the state of the track, the number of other horses involved in the race, etc.). Similarly, poker and blackjack are both games that players can win big if they are skilful. Personally, I believe that playing DFS games for money is definitely a form of gambling, and even if it isn’t legally classed as a form of gambling, the games contain structural elements (including high event frequencies, low entry fee per game, lots of games, etc.) that can facilitate excessive use and expose vulnerable players to harm. DFS operators also allow team line-ups from a previous sporting event to populate other events which increases the speed of play, another factor that can facilitate habitual use. Furthermore, as Dr. Samantha Thomas and her colleagues argued in a recent 2015 report, the enhanced participatory role that fantasy games introduce could facilitate the illusion of control as they perform actions, making bettors overestimate the importance of skills and knowledge for the outcome of the competitions.
Dr. Mark Griffiths, Professor of Behavioural Addiction, International Gaming Research Unit, Nottingham Trent University, Nottingham, UK
Further reading
Drayer, J., Dwyer, B., & Shapiro, S. L. (2013). Examining the impact of league entry fees on online fantasy sport participation and league consumption. European Sport Management Quarterly, 13(3), 339-335.
Dwyer, B., & Kim, Y. (2011). For love or money: Developing and validating a motivational scale for fantasy football participation. Journal of Sport Management, 25(1), 70-83.
Marchica, L., & Derevensky, J. (2016). Fantasy sports: A growing concern among college student-athletes. International Journal of Mental Health and Addiction, 1-15. Epub ahead of print.
Martin, R. J., & Nelson, S. (2014). Fantasy sports, real money: Exploration of the relationship between fantasy sports participation and gambling-related problems. Addictive Behaviors, 39(10), 1377-138.
Pickering, D., Blaszczynski, A., Hartmann, M., & Keen, B. (2016). Fantasy sports: Skill, gambling, or are these irrelevant issues? Current Addiction Reports, 3(3), 307-313.
Thomas, S., Bestman, A., Pitt, H., Deans, E., Randle, M., Stoneham, M., & Daube, M. (2015). The marketing of wagering on social media: An analysis of promotional content on YouTube, Twitter and Facebook. Victoria, Australia: Victorian Responsible Gambling Foundation.
Net advantage: Another brief look at the psychology of online poker
From everything that I’ve observed over the last decade in the gambling world, the one thing that has caught my eye more than anything else is the number of online gambling stories – particularly about the rise of online poker. Clearly, online poker and traditional poker are not synonymous. As I outlined in one of my previous blogs, a very useful psychological tool in poker is to ‘read’ a player through their body language and their verbalisations. When playing online poker, a gambler is denied this advantage. Poker players must therefore seek to manipulate their poker-playing opponents by using the psychological tools at their disposal. One of my colleagues who has researched this area (Dr. Adrian Parke), believes that in a ‘SunTzu’-type way, an online poker player must take their weakness (in this case, not being able to physically see other players) and turn it into a positive strength. Put simply, a player must use the non-transparency inherent in the situation to their advantage.
Online poker permits players to create a false identity. As a player you could portray the façade of being a young attractive novice female player when in fact you are actually a very experienced recognised pro. On a psychological level, the key to a ‘hustle’ or manipulating other players in poker is by projecting a character and hiding your identity. Essentially it is about representing a façade, whether it is for one hand or the whole of the game. While playing poker online, a player can adapt any ‘character’ they wish to suit any game in which they engage in. For instance, if you are playing with novices it may be profitable to portray an experienced professional in order to intimidate players into submission.
Using the messaging systems provided, it is easier for online poker players to develop their persona(s). The tone and pitch of what a player “says” is not revealed in the text on the screen. At a fundamental level all players are acting with their most unemotional ‘poker face’. In these situations, players can exude confidence as they go all in on a psychological bluff, when in reality they may have shaking hands and be sweating like a pig. The key to winning on a psychological level is by inducing emotional reactions from other players, so with knowledge of the opponent, it is possible to ‘tailor’ interactions to induce the desired response.
Social interaction at the online poker table is not confined to adversarial chastising. It is also possible to develop amiable relationships between players. Online poker – particularly at low stakes tables – is often more about entertainment than making profits. In poker it is not necessary to reveal your hand if nobody calls (i.e., pays to see it). Without seeing cards it is more difficult to understand player behaviour. However, at more sociable tables, players will reveal what they had to opposing players, if nothing else but to indulge the observers. Creating false ‘alliances’ is a way of ascertaining more information about your opponents and improving your ability to ‘read’ them.
From a psychological perspective, there are also some things to be aware of in the online gambling world. At a basic level, what separates professional gamblers and novice (or problem) gamblers is the factor of self-control. The rule of thumb is to avoid becoming emotionally involved in the game. Inducing emotional rather than logical reactions from gamblers is what makes the gambling industry so profitable. By remaining unemotional gamblers can protect themselves from recklessly chasing losses and avoid going on ‘tilt’. People gambling online are particularly at risk from engaging in chasing losses for the simple reason that they have 24-hour convenient access from their home or workplace and have the potential to be constantly subjected to temptation. What’s more, in this asocial world, they often lack friends acting as a “social safety net” to give objective appraisals of the player’s behaviour.
The best ways of avoiding becoming emotionally engaged online is to have (i) reflective time outs and (ii) an objective attribution of outcomes. Having reflective time-outs simply refers to playing slowly, making gambling decisions with accrued knowledge (for example, knowledge of probability and of opponents). It is advisable after a ‘bad beat’ to be disciplined enough sit out one or two hands to regain composure before playing again. Determining objective attributions of outcomes occurs at a psychological level and concerns the gambler’s locus of control. For the gambler, this means having an external locus of control when assessing the cards they have and an internal locus of control regarding what they do with the cards available.
The mantra of poker players is that ‘You can only play the hand you were dealt’. All players will experience streaks of both desirable and poor hands, and it is how a player responds to these streaks that will determine their success. It is very easy to become frustrated while in a negative streak. Likewise, it is easy in a positive streak to become narcissistic and complacent. It is the knowledgeable player that understands probability and who realises that over a continuous playing period, positive and negative streaks are inevitable and transient.
Dr Mark Griffiths, Professor of Gambling Studies, International Gaming Research Unit, Nottingham Trent University, Nottingham, UK
Further reading
Biolcati, R., Passini, S. & Griffiths, M.D. (2015). All-in and bad beat: Professional poker players and pathological gambling. International Journal of Mental Health and Addiction, in press.
Griffiths, M.D., Parke, J., Wood, R.T.A. & Rigbye, J. (2010). Online poker gambling in university students: Further findings from an online survey. International Journal of Mental Health and Addiction, 8, 82-89.
McCormack. A. & Griffiths, M.D. (2012). What differentiates professional poker players from recreational poker players? A qualitative interview study. International Journal of Mental Health and Addiction, 10, 243-257.
Parke, A. & Griffiths, M.D. (2011). Poker gambling virtual communities: The use of Computer-Mediated Communication to develop cognitive poker gambling skills. International Journal of Cyber Behavior, Psychology and Learning, 1(2), 31-44.
Parke, A., Griffiths, M., & Parke, J. (2005) Can playing poker be good for you? Poker as a transferable skill. Journal of Gambling Issues, 14.
Recher, J. & Griffiths, M.D. (2012). An exploratory qualitative study of online poker professional players. Social Psychological Review, 14(2), 13-25.
Wood, R.T.A., Griffiths, M.D. & Parke, J. (2007). The acquisition, development, and maintenance of online poker playing in a student sample. CyberPsychology and Behavior, 10, 354-361.
Wood, R.T.A. & Griffiths. M.D. (2008). Why Swedish people play online poker and factors that can increase or decrease trust in poker websites: A qualitative investigation. Journal of Gambling Issues, 21, 80-97.
Punter gatherer: What is the role of competitiveness in gambling and problem gambling?
Over the last decade, I have been asked by the mass media on countless occasions about the increasing popularity of online gambling. The two biggest successes appear to be the use of betting exchanges and online poker. Gamblers clearly feel these types of gambling provide value and an opportunity to exercise their skill. This is coupled with increasingly sophisticated gaming software, integrated e-cash systems, increased realism (in the shape of “real” gambling via webcams, or player and dealer avatars) are all inter-linked facilitating factors. However, another factor that I feel is really important in the rise of online gambling is the inter-gambler competition. Obviously there is an overlap between competitiveness and skill but they are certainly not the same. What’s more recent research has suggested that being highly competitive may not necessarily be good for the gambler.
I’m sure many people’s view of psychology is that it is little more than common sense (and to be honest, some of it is). For instance, psychologists claim that male gamblers are attracted to sports betting because they love competitiveness. There has also been North American research examining the high participation in US college basketball. The researchers found that above anything else, males were attracted to the competitiveness of betting on teams and games. Professor Howard Shaffer, a psychologist at Harvard University, claims that men are more likely to develop problematic gambling behaviour because of their conventionally high levels of aggression, impulsivity and competitiveness. Clearly, the idea of the competitiveness of the activity being one of the primary motivations to gamble is well supported.
Based on the fact that so little research has systematically examined the links between gambling and competitiveness, my own research unit published some research into this area in the journal Addiction Research and Theory. Dr. Adrian Parke and myself speculated that a gambler who is highly competitive would experience more arousal and stimulation, and be drawn to gambling as an outlet to release competitive instincts and drives. We also speculated that competitiveness may be linked to problem gambling. For instance, being highly competitive may help in explaining why in the face of negative and damaging consequences, problem gamblers persist in their potentially self-destructive habit. Psychological research in other areas has consistently shown that highly competitive individuals are more sensitive to social comparison with peers regarding their task performance. Applying this to a gambling situation, it is reasonable to suggest that competitive gamblers may be reluctant to stop gambling until they are in a positive state in relation to opposing gamblers, perhaps explaining why excessive gambling can sometimes occur.
Psychology is not the only discipline to suggest that competitiveness levels can be associated with problem gambling. Sociologists have speculated that factors of the human instinctual expressive needs, such as competition, can be temporarily satisfied when engaging in gambling activities. Evidence exists supporting gambling as an instrumental outlet for expressing competitive instinctual urges. The US sociologist Erving Goffman developed what he called the ‘deprivation-compensation’ theory to explain the relationship between gambling and competitiveness. He suggested that the stability of modern society no longer creates situations where competitive instincts are tested. Therefore, gambling is an artificial, self-imposed situation of instability that can be instrumental in creating an opportunity to test competitive capabilities.
In the published research study that we carried out, we hypothesised that problem gamblers would possess higher levels of competitiveness than non-problem gamblers. Using a competitiveness scale, gamblers were asked to rate statements about competitive reasons for gambling (such as ‘I like to gamble to show others how good I am at it’, ‘I like to gamble to beat the system’, ‘I like to gamble to see how good I am at it’) and general competitive tendencies (such as ‘I am competitive’, ‘I enjoy taking risks’, ‘I am abitious’). We found that problem gamblers scored significantly higher on the competitiveness scale. Put simply, we concluded that having a highly competitive streak may in fact be a potential risk factor for problem gambling.
It is not hard to see how a highly competitive person would be attracted to gambling by the competitive and challenging nature of the behaviour. However, why are competitive people at particular risk of developing pathological gambling behaviour? It could be the case that highly competitive gamblers are less inclined to ‘throw the towel in’ or accept a loss, and, as a result are more prone to chasing behaviour. Chasing behaviour – that is, increasing frequency and stake of bets in an attempt to recoup losses – is self-perpetuating. When gamblers chase losses it is highly probable they will lose more and the need to recoup losses increases as time passes. What’s more, chasing losses has been shown to be a major risk factor in the development of gambling problems. At the other end of spectrum, winning is potentially more rewarding for a competitive gambler as they are more inclined to perceive gambling as an internal and external challenge than a non-competitive gambler. In addition, winning will be much more rewarding after incurring losses. Put very simply, the competitive person feels greater triumph by defeating unlikely odds and emerging from what appeared a hopeless situation.
Dr Mark Griffiths, Professor of Gambling Studies, International Gaming Research Unit, Nottingham Trent University, Nottingham, UK
Further reading
Goffman, I. (1972). Where the action is. In: Interaction Ritual (pp.149–270). Allen Lane, London.
Griffiths, M.D. (2010). Gambling addiction on the Internet. In K. Young & C. Nabuco de Abreu (Eds.), Internet Addiction: A Handbook for Evaluation and Treatment (pp. 91-111). New York: Wiley.
Kuss, D.J. & Griffiths, M.D. (2012). Internet gambling behavior. In Z. Yan (Ed.), Encyclopedia of Cyber Behavior (pp.735-753). Pennsylvania: IGI Global.
McCormack. A. & Griffiths, M.D. (2012). What differentiates professional poker players from recreational poker players? A qualitative interview study. International Journal of Mental Health and Addiction, 10, 243-257.
Parke, A. & Griffiths, M.D. (2011). Poker gambling virtual communities: The use of Computer-Mediated Communication to develop cognitive poker gambling skills. International Journal of Cyber Behavior, Psychology and Learning, 1(2), 31-44.
Parke, A., Griffiths, M.D. & Irwing, P. (2004). Personality traits in pathological gambling: Sensation seeking, deferment of gratification and competitiveness as risk factors, Addiction Research and Theory, 12, 201-212.
Parke, A., Griffiths, M., & Parke, J. (2005) Can playing poker be good for you? Poker as a transferable skill. Journal of Gambling Issues, 14.
Recher, J. & Griffiths, M.D. (2012). An exploratory qualitative study of online poker professional players. Social Psychological Review, 14(2), 13-25.
Wood, R.T.A. & Griffiths. M.D. (2008).Why Swedish people play online poker and factors that can increase or decrease trust in poker websites: A qualitative investigation. Journal of Gambling Issues, 21, 80-97.
Conforming to type: A typology of poker playing
I apologize in advance that today’s blog spills into ‘pop psychology’ but I thought I would share it with you anyway. A number of years ago, I helped a leading Internet poker company do some research on different types of poker player and developed a typology. With the help of US poker tournament director Jack McClelland, the typology was based on a survey of 2000 poker players and produced seven different types of player. These were subsequently called ‘The General’, ‘The Joker’, ‘The Wallflower’, ‘The Calculator’, ‘The Hunter’, ‘The Artisan’, and ‘The Politician’. The study found that 39% of players were Wallflowers or Calculators (40% male and 38% female), 17% were Jokers (16% male and 17% female), 15% were Generals (17% male and 13% female) and 4% were Hunters (5% male and 3% female). The ‘Politician’ and ‘Artisan’ sub-types constituted only a very small minority of players. So which type of player are you? Here is a quick psycho-portrait of each type.
The General: Instantly recognisable for their guts, Generals won’t shirk in the face of risk and are comfortable in their ability to fight back from a short stack. In everyday life, The General’s supreme self-belief can be overbearing, but Generals tend to reap the rewards and are often very successful in their careers. At the green baize, the high risk-high gain strategy employed tends to see them bust out first or win the lot.
The Joker: A natural born entertainer, a jester at the table who ensures everyone will have fun. Well liked, Jokers command other’s allegiances and will use this to their advantage. But beware, they are more than happy to talk you off a pot should they choose to. Unfortunately, Jokers are as easily distracted, and can be distracting at the poker table. This can be dangerous. A lack of discipline and patience can make you question whether the Jokers are equipped with the will to win. What’s more, their need to be liked can often stand in their way of closing in on the kill.
The Wallflower: The Wallflower is happy to sit on the sidelines and wait for others to fight it out before they get involved. In everyday life the Wallflower will rarely throw in their lot with anyone and will take their time to make allegiances. Wallflowers are equipped with the most important of all poker virtues – patience. Their tendency to avoid the quagmire of the group dynamic gives them an extra edge – their relationships come with no baggage. While the others fight it out the Wallflower will sit back, observe and learn. According to journalist and female poker player Victoria Coren, while Wallflowers can survive quite a while in a game, they can’t necessarily change gear later and nail money finishes.
The Calculator: Cool, composed and naturally conservative, Calculators will only go into a hand with the best of it. In everyday life, Calculators were often the cleverest kids in their class – if not the ones with the biggest circle of friends. Instinctively risk-averse, their strengths as a poker player include a methodical approach and the ability to separate emotion from decisions. Skilful as they may be, there is no easier player to read than a Calculator. What’s more, Calculators can be quite passive and are unwilling to chase the action if it doesn’t come their way.
The Hunter: At first glance, the Hunter can easily be mistaken for a General. Both exude the same forcefulness and strength of character, but where The General is all about thought through risks, The Hunter is all about naked aggression. Off the poker table, Hunters aren’t always the best communicators, but are hugely loyal and very determined. On the poker table, a Hunter is a formidable opponent and loves the thrill of trying to beat the odds. A loose player, they’ll play a lot of hands and will feed off the weaker players by bullying them off pots.
The Politician: An arch manipulator, you can spot Politicians because they’re your best friends. Trouble is, they’re also your next-door neighbour’s best friend and even your enemy’s best friend. Their good qualities are highly tuned instincts and a whole deck of charisma. Both will serve them well at the poker table, but both can also lead to trouble. A tendency to play the people rather than the cards can spell disaster, and the Politician is one of the most likely players to bluff.
The Artisan: At first glance, the Artisan may not appear to be a natural born poker player. Led by the creative left side of their brain rather than the more mathematical right hand side, Artisans are more usually found engaged in less competitive activities. However, Artisans have very finely honed intuitive skills and always love to rise to a challenge. An Artisan will take a very lateral approach to the game and won’t be scared to make a move if their instincts tell them to.
I’m not pretending that the work I did was particularly scientific but it was certainly interesting. Obviously the whole problem with formulating sub-types like this is that they are usually based on a particular way of looking at the activity. For instance, I have a typology based on the types of playing mistakes players make – but I’ll leave that for a future blog.
Dr Mark Griffiths, Professor of Gambling Studies, International Gaming Research Unit, Nottingham Trent University, Nottingham, UK
Further reading
Griffiths, M.D., Parke, J., Wood, R.T.A. & Rigbye, J. (2010). Online poker gambling in university students: Further findings from an online survey. International Journal of Mental Health and Addiction, 8, 82-89.
McCormack. A. & Griffiths, M.D. (2012). What differentiates professional poker players from recreational poker players? A qualitative interview study. International Journal of Mental Health and Addiction, 10, 243-257.
Parke, A. & Griffiths, M.D. (2011). Poker gambling virtual communities: The use of Computer-Mediated Communication to develop cognitive poker gambling skills. International Journal of Cyber Behavior, Psychology and Learning, 1(2), 31-44.
Parke, A., Griffiths, M., & Parke, J. (2005) Can playing poker be good for you? Poker as a transferable skill. Journal of Gambling Issues, 14.
Recher, J. & Griffiths, M.D. (2012). An exploratory qualitative study of online poker professional players. Social Psychological Review, 14(2), 13-25.
Wood, R.T.A., Griffiths, M.D. & Parke, J. (2007). The acquisition, development, and maintenance of online poker playing in a student sample. CyberPsychology and Behavior, 10, 354-361.
Wood, R.T.A. & Griffiths. M.D. (2008). Why Swedish people play online poker and factors that can increase or decrease trust in poker websites: A qualitative investigation. Journal of Gambling Issues, 21, 80-97.
Stock tales: Is financial trading a form of gambling?
One of the questions I am most asked by my students and the media alike is whether trading on the stock market is a genuine form of gambling. That might sound a simple question, but it all comes down to what definition of gambling you are using. My own view on gambling is that it boils down to the staking of money (or something of financial value) on a future event. When I first started my research into gambling back in the mid-1980s, there were four fundamental types of gambling:
- Gaming – Staking of money during a game (e.g. slot machines, roulette, blackjack, etc.)
- Betting – Staking money on a future event, typically sports events (e.g. horse race betting, greyhound betting, football betting, etc.)
- Lotteries – The distribution of money by lot (e.g. National Lottery)
- Speculation – Staking money on stock markets (e.g., investment in shares, day trading, etc.)
In a previous blog I briefly examined whether stock market speculation was a legitimate form of gambling. However, back in the 1980s, psychologists were only interested in studying the first three of these activities (i.e., gaming, betting and lotteries). Although a few academics accepted ‘speculation’ as a true form of gambling, the majority of researchers in the gambling studies field did not (including me). The prevailing view at the time was that ‘speculation’ was viewed as involving a fair amount of skill and/or relied on ‘insider information’ and therefore was not a legitimate form of gambling compared to other forms of gambling. Although there were clearly accepted forms of gambling that had skilful elements (e.g., poker, blackjack), academic psychologists still rejected speculation as a form of gambling worth investigating.
However, this all changed after the introduction of spread betting. I argued in a number of articles at the end of the 1990s that spread betting had taken the mechanics of stock market trading and applied it to sporting events. For me, this was a game changer in terms of studying the psychology of gambling. No longer could we say that speculation shouldn’t be studied because spread betting was clearly a form of speculation and it was something that appealed to a new type of gambler because it involved sporting events that many people think they know a lot about.
There was also one other key factor in changing psychologist’s perceptions of speculation as gambling – the ‘Nick Leeson effect’. In 1995, Leeson single-handedly brought down the UK’s oldest investment bank (Barings). Leeson was a derivatives broker whose fraudulent gambling caused the spectacular collapse of one of the UK’s most established financial institutions. From the early 1990s, Leeson made countless speculative (and unauthorised) gambles on the stock market that at first made large profits for his employers. However, as with most gamblers, his ‘beginner’s luck’ soon ran out and he started to lose huge amounts of money. Leeson’s losses eventually reached £827 million. Leeson’s psychology and behaviour was identical to that of a problem gambler (except he was gambling with much larger amounts of money and with someone else’s money).
There was perhaps another reason why speculation was seen as psychologically different from gaming, betting and lotteries. Unlike these other forms of gambling, speculation is a type of gambling where the gambler does not know how much they are going to win or lose on the gamble. If I put £1000 on a horse to win the Grand National or on black to come up on a roulette wheel, I know that losing will cost me £1000. On most stock market trades or spread bets, no-one knows beforehand what the losses could be. However, there are financial trades that could perhaps be argued to be more like betting than speculation. For instance, binary options look as though they are going to grow in popularity over the next year or two as the gambling payoff is more traditional than usual financial trading.
In binary option betting, a cash-or-nothing binary option will pay a fixed amount of money if the option traded on expires in-the-money (i.e., it is a simple ‘win-or-lose’ bet as the potential return it offers is certain and known before the purchase is made). One of the attractions of binary options is that they can be bought on virtually any financial product and can be bought in both up and down directions of trade. The simplicity is likely to attract more people especially if they feel they know something about the product being traded upon. This is the same reason why spread betting took off in such a big way because people feel they know about the market (e.g., football) that they are betting on, even if there is a huge element of chance (which there invariably is). My guess is that most people who work in the financial markets don’t see binary options as an investment opportunity – they see it for what it really is – a pure gamble.
Dr Mark Griffiths, Professor of Gambling Studies, International Gaming Research Unit, Nottingham Trent University, Nottingham, UK
Further reading
Griffiths, M.D. (1991). ‘Gambling and Speculation: A Theory, History, and a Future of some Human Decisions’ by R. Brenner and G.A. Brenner. Journal of Economic Psychology, 12, 197-201.
Griffiths, M.D. (1998). Gambling into the Millenium: Issues of concern and potential concern. GamCare News, 3, 4.
Griffiths, M.D. (2000). Day trading: Another possible gambling addiction? GamCare News, 8, 13-14.
Griffiths, M.D. (2006). An overview of pathological gambling. In T. Plante (Ed.), Mental Disorders of the New Millennium. Vol. I: Behavioral Issues. pp. 73-98. New York: Greenwood.
Griffiths, M.D. (2007). Gambling Addiction and its Treatment Within the NHS. London: British Medical Association (ISBN 1-905545-11-8).
Griffiths, M.D. & Auer, M. (2013). The irrelevancy of game-type in the acquisition, development and maintenance of problem gambling. Frontiers in Psychology, 3, 621. doi: 10.3389/fpsyg.2012.00621.
Griffiths, M.D. (2013). Financial trading as a form of gambling. i-Gaming Business Affiliate, April/May, 40.