Crypto investing impacts gamblers more according to GamCare
GamCare has recently published a new study showing that gamblers are likely to experience more severe impacts from investing in cryptocurrencies than those who don’t gamble.
The charity’s latest study, which was conducted for GamCare by YouGov, surveyed more than 4.2 thousand adults across the United Kingdom. One of its key findings was that people who gamble are around five times more likely to own crypto assets than those who don’t gamble, with around 51% of the survey’s respondents who gamble reporting that they own cryptocurrencies.
The study then looked at what effects the changes in crypto values could have on investors and found that those who have problematic gambling behaviors classified as 8 or higher on the country’s PGSI scale are far more likely to be severely negatively impacted. While crypto price fluctuations only affected 1% of respondents in a way that hampered their abilities to pay essential bills, about 27% of problem gamblers were affected in this way.
Moreover, the study found that 0% of non-gambler respondents reported price fluctuations impacting their personal relationships, while 17% of problem gamblers stated that their relationships were affected. The gap between the two groups was the smallest in price fluctuations leaving people with an overwhelming feeling, with 14% of gamblers and 5% of non-gamblers reporting the sensation.