000160949 001__ 160949
000160949 005__ 20251017144650.0
000160949 0247_ $$2doi$$a10.1016/j.puhe.2025.105742
000160949 0248_ $$2sideral$$a144023
000160949 037__ $$aART-2025-144023
000160949 041__ $$aeng
000160949 100__ $$aColoma-Carmona, Ainhoa
000160949 245__ $$aNot all traders gamble, but some gamblers trade: a latent class analysis of trading and gambling behaviors among retail investors
000160949 260__ $$c2025
000160949 5060_ $$aAccess copy available to the general public$$fUnrestricted
000160949 5203_ $$aObjectives: This study aimed to identify subgroups of retail investors based on their engagement in trading and gambling activities, and to examine differences in involvement, demographics, substance use, impulsivity, cognitive biases, problem gambling, and disordered trading.
Study design: Cross-sectional, population-based study using panel data. Quota sampling and post-stratification weights were applied using data from a prior population-based random digital dial telephone survey.
Methods: Data were collected from 1,429 Spanish adults (aged 18–64). Participants reported involvement in trading of 8 financial instruments (e.g., cryptocurrencies, stocks, ETFs) and 12 gambling (e.g., lotteries, sports betting) and gambling-like activities (e.g., loot boxes, skin betting). 28.6 % of respondents engaged in non- professional trading.
Results: Using weighted latent class analysis we identified three distinct subgroups of retail investors: crypto- traders (52.4 %), focused on cryptocurrency trading with minimal gambling; stock-traders (32 %), involved in stocks/ETFs and lotteries, and gambling-traders (15.6 %), heavily involved in high-risk trading and various gambling activities. Although gambling-traders were not the highest investors in terms of trading volume, this class exhibited the highest frequency of trading and gambling, impulsivity, gambling-related cognitive biases, rates of disordered trading, and illicit substance use. 24.9 % of gambling-traders scored for problem gambling (PGSI≥8), compared to 0.5 % of crypto-traders and 3.5 % of stock-traders. Conclusions: Not all retail investors seem to extend their gambling behaviors to financial markets; however, those with higher impulsive traits and gambling-related cognitive biases tend to combine trading with gambling. This combination is strongly associated with problem gambling and disordered trading.
000160949 540__ $$9info:eu-repo/semantics/openAccess$$aby-nc-nd$$uhttps://creativecommons.org/licenses/by-nc-nd/4.0/deed.es
000160949 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion
000160949 700__ $$aCarballo, José Luis
000160949 700__ $$aMiró-Llinares, Fernando
000160949 700__ $$0(orcid)0000-0002-7730-8527$$aCarreras Aguerri, Jesús$$uUniversidad de Zaragoza
000160949 7102_ $$14009$$2813$$aUniversidad de Zaragoza$$bDpto. Psicología y Sociología$$cÁrea Trabajo Social y Serv.Soc
000160949 773__ $$g244 (2025), 105742 [9 p.]$$pPublic health$$tPUBLIC HEALTH$$x0033-3506
000160949 8564_ $$s886460$$uhttps://zaguan.unizar.es/record/160949/files/texto_completo.pdf$$yVersión publicada
000160949 8564_ $$s2429029$$uhttps://zaguan.unizar.es/record/160949/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada
000160949 909CO $$ooai:zaguan.unizar.es:160949$$particulos$$pdriver
000160949 951__ $$a2025-10-17-14:36:09
000160949 980__ $$aARTICLE