Risks in Non-traditional Gambling

Risks in Non-traditional Gambling

Since you’ve made the decision to stop gambling, you may have noticed that certain other activities have elements that feel a lot like gambling.  Things like video games, investment activities, crypto, or trading cards involve taking a risk in the hopes of a reward – just like gambling – and may have you wondering, is this for me?  Whether or not you choose to engage in these types of activities after stopping gambling is a personal decision, but you need to have the right information to make an informed choice.

In this lesson, we’re going to explore some of the non-traditional gambling-like activities, and help you assess whether or not participating in them is aligned with your own goals.

Non-traditional Gambling

We’re going to start by exploring the non-traditional methods of gambling that have emerged with advancements in technology and changing trends.  These forms of gambling extend beyond the traditional casino environment.  They’re often disguised as non-gambling activities, though they share certain mechanics and have chance at the center like gambling.

While some people who’ve experienced gambling harm can engage in these activities, others find they start the negative cycle of urges and bad habits.

The bottom line: If you notice yourself slipping into feelings or habits that you’re trying to avoid by stopping gambling, you should avoid the activity.

Daily Fantasy Sports Leagues

Online betting platforms offering Daily Fantasy Sports contests have gained popularity as non-traditional gambling methods.  Instead of building a team for a whole season and playing with friends, participants build teams for a single day, and compete in large tournaments or head-to-head matches.  While this is called “Fantasy Sports”, this is more akin to traditional sports gambling, and was originally created as a loophole to offer gambling-like activities in states that didn’t allow for sports betting.

Risk Level - High: Because this activity employs the exact mechanics as Sportsbetting and lacks responsible gaming oversight, we think it is too risky of an activity for anyone who is looking to live a gamble-free life.

Online “Play Money” Casino Games And Virtual Casinos

Online casinos offer a wide range of casino games similar to traditional brick-and-mortar casinos, including virtual versions of table games, slot machines, and video poker.  Players can purchase virtual currency which has no monetary value outside of the game, and can never be exchanged for cash.  Another big issue with these games is they don’t portray real casino odds.  This can give the impression that it is much easier to win than it actually is in real life.

Risk Level - High: Because this activity employs the exact mechanics as Casino gambling and lacks responsible gaming oversight, we think it is too risky of an activity for anyone who is looking to live a gamble-free life. 

Gambling In Video Games (In-Game Purchases And Loot Boxes)

In recent years, some video games have incorporated gambling-like elements known as in-game purchases or loot boxes.  Players can spend real money to purchase virtual items, skins, or loot boxes that contain random rewards.  The chance of receiving desirable items creates a gambling-like experience within the game.  However, it's important to note that some countries and regulatory bodies have raised concerns about the potential risks of these mechanics, especially when minors are involved.  Companies include this type of game-play because it hooks gamers and makes the company more money as people spend money for pixels.

Risk Level - Medium/Low: Know the risks, pay attention to how this is impacting you, and make your own decision on whether it’s worthwhile to engage in this play. 

Trading Sports Cards/Collectibles

In some cases, trading sports cards and collectibles can have elements of gambling, particularly when transactions involve speculative and uncertain outcomes.  Collectors and traders may buy, sell, or trade cards in the hope of obtaining rare or valuable items.  The value of sports cards and collectibles can fluctuate based on factors such as player performance, historical significance, and market demand.

Risk Level - Medium/Low: If you notice yourself slipping into feelings or habits that you’re trying to avoid by stopping gambling, you should avoid the activity.

Stock Trading And Speculation

Stock trading, particularly speculative trading, involves buying and selling financial instruments such as stocks, options, or other assets with the hope of profiting from short-term price fluctuations.  Speculative trading carries inherent risks, and decisions are often influenced by market speculation and perceived patterns, akin to gambling behaviors.  Traders may engage in riskier practices without fully understanding the complexities of the financial markets.  Traders may also find that they’re spending an inordinate amount of time researching, to the detriment of more productive and efficient ways of spending their time.

Risk Level - High: If you notice yourself slipping into feelings or habits that you’re trying to avoid by quitting gambling, you should avoid the activity. 

Cryptocurrency Trading

Cryptocurrency trading involves buying and selling digital currencies like Bitcoin, Ethereum, and others with the aim of making a profit.  As the cryptocurrency market has proven to be highly volatile, trading activities may resemble gambling.  Participants speculate on price movements and try to time the market to maximize gains, while weathering massive losses.  There has also been the emergence of gambling operators that allow gamblers to place bets using cryptocurrency. These have their own inherent risks that we’ll talk about a bit later.

Risk Level - Medium/Low: If you notice yourself slipping into feelings or habits that you’re trying to avoid by quitting gambling, you should avoid the activity. 

Sweepstakes Gambling

Sweepstakes gambling refers to a type of gambling or gaming promotion where participants have a chance to win prizes based on chance, usually without making a direct payment or purchase.  It is often associated with contests or promotions that require no purchase or consideration to enter, making it distinct from traditional gambling where participants wager money for a chance to win.  They’re typically hosted by stores, publications or restaurants.

Risk Level - Medium: If you notice yourself slipping into feelings or habits that you’re trying to avoid by quitting gambling, you should avoid the activity. Also watch out for spending more money at the hosting entity than you normally would.

Let's Reflect

How does this activity make me feel?  Does this activity introduce the same negative issues that gambling was introducing to my life?

Is this activity and its results aligned with my broader goals around gambling?

Closing Thought

Use the knowledge and self understanding you’re building to determine whether these activities are for you.  If you’re unsure, try discussing it with a trusted friend or the Evive Community.

Again, there is no one right answer for everyone.  The bottom line is:

If you notice yourself slipping into feelings or behavior that you’re trying to avoid, you should avoid the activity.