Reports from University of East London Add New Study Findings to Research in Risk Management (Cryptocurrencies as Gamblified Financial Assets and Cryptocasinos: Novel Risks for a Public Health Approach to Gambling): Insurance – Risk Management

2023 APR 06 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Research findings on risk management are discussed in a new report. According to news reporting from London, United Kingdom, by NewsRx journalists, research stated, “Policymakers’ attempts to prevent gambling-related harm are affected by the ‘gamblification’ of, for example, video games and investing.”

Our news reporters obtained a quote from the research from University of East London: “This review highlights related issues posed by cryptocurrencies, which are decentralised and volatile digital assets, and which underlie ‘cryptocasinos’-a new generation of online gambling operators. Cryptocurrencies can be traded around the clock and provide the allure of big potential lottery-like wins. Frequent cryptocurrency traders often suffer from gambling-related harm, which suggests that many users are taking on substantial risks. Further, the lack of regulation around cryptocurrencies and social media echo chambers increases users’ risk of being scammed. In comparison to the conventional regulated online gambling sector, cryptocasinos pose novel risks for existing online gamblers, and can also make online gambling accessible to the underage, the self-excluded, and those living in jurisdictions where online gambling is illegal.”

According to the news editors, the research concluded: “Researchers and policymakers should continue to monitor developments in this fast-moving space.”

For more information on this research see: Cryptocurrencies as Gamblified Financial Assets and Cryptocasinos: Novel Risks for a Public Health Approach to Gambling. Risks, 2023,11(49):49. (Risks - http://www.mdpi.com/journal/risks). The publisher for Risks is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/risks11030049.

Our news journalists report that more information may be obtained by contacting Maira Andrade, School of Psychology, University of East London, London E16 2RD, United Kingdom. Additional authors for this research include Philip W. S. Newall.

(Our reports deliver fact-based news of research and discoveries from around the world.)