With sporting events around the world postponed, gamblers have looked to the markets for opportunities.
A new wave of traders has entered into the markets, attracted by heightened Volatility driven by the coronavirus pandemic. A number of demographics make up this new wave, including, an uptick in participants in the gambling sector.
As Finance Magnates previously analysed, the bump in new market participants includes first-time traders, dormant traders reconnecting with their investment portfolio and investors who previously only traded one asset class - such as equities, branching out into different assets.
However, there is also another section of new traders - gamblers, who haven’t been able to bet on professional sport as lock-down measures have postponed all sporting events around the world and people take up hobbies such as bread making and learning how to grow your own mushrooms.
Gamblers heading to market is simple evolution
Speaking to Finance Magnates, Andrew Anastasiou, fintech entrepreneur and Founder of WireWallet, explained that there are essentially two reasons for why this trend is occurring: "it's a simple evolution to turn to Online Trading. However, it would seem appropriate that the vast majority of Traders who have come to the industry from online casinos or sports betting will not stay long, as in general these individuals are either seeking the thrill of a win, or are used to placing a bet which is more calculated by chance as opposed to a financial calculation.
"This isn't to say that individuals coming to online currency trading are not educated, but there is a clear divide between taking a calculated risk on a currency trade, and placing a bet on a sporting event or playing in an online casino.
"Also, being in lockdown has created quite a significant level of boredom and a change in lifestyle for most. Therefore, individuals would be looking for new ways to spend their time and with no sports events happening, the individuals would have been looking for somewhere to use their money and find some enjoyment."
A natural progression
Joe Wainer, Co-founder BingoDaily.co.uk, said to Finance Magnates that it would be a natural progression for gamblers to head to the trading industry.
“Since the lockdown begun in the UK in March, we've seen a noticeable uptick in user acquisitions within the bingo sector. Although BingoDaily's target audience isn't in the financial field, we cover the financial going's on of the big UK publicly listed gambling operators, so we see a definite cross over in interest from what may be considered the unlikeliest of gambling areas.
“Recent UGC statistics have shown that online gambling has grown despite the complete lack of sports betting. People's appetite for online spending/gambling is clearly there, so it would be natural that the trading industry saw an uptick in users too.”
Will gamblers stick around?
Whilst this trend is great for the industry and the brokers that operate within this space, as volatility decreases, is it likely that these new traders will stick around? According to Wainer, it’s all up to brokers.
“A lot does depend on the trading companies themselves,” he explained. “How they retain the new clients, keep them interested and engaged. What nobody wants is a return to the dark days of unregulated investing/gambling like we saw with Binary Options. Education, transparency and strong regulation – something the UKGC have been working hard on – would help the trading industry retain new traders. And yes, we hope they come back to gambling.”
Anastasiou, however, believes that the vast majority will return to casinos and sports betting: "I believe there will be a certain amount of individuals who will enjoy the calculated risk involved in making a trade online. However, as mentioned I feel that the two industries operate on different fields when it comes to the types of ultimate services they provide and the feeling they provide for the Trader or player.
"Once we return to normal, I would estimate that the vast majority will return to casinos and sports betting, as there is a substantial thrill difference when placing a bet or playing in an online casino."
Retaliation from the gambling sector
With some gamblers heading to the trading markets, could we see more crossover between gambling and trading? Once sporting events open back up, companies within the gambling industry might try and entice traders that have moved to the trading markets during the pandemic.
“There should be more of a crossover,” Wainer pointed out. “Spread betting promised this but hasn’t delivered on expectations. One trend I do think will emerge will be the FCA following the UGKCs protection of problem gamblers. If a lot of new traders are not educated properly, they will more than likely lose their money and there will be more scrutiny from the FCA.”
A new wave of traders has entered into the markets, attracted by heightened Volatility driven by the coronavirus pandemic. A number of demographics make up this new wave, including, an uptick in participants in the gambling sector.
As Finance Magnates previously analysed, the bump in new market participants includes first-time traders, dormant traders reconnecting with their investment portfolio and investors who previously only traded one asset class - such as equities, branching out into different assets.
However, there is also another section of new traders - gamblers, who haven’t been able to bet on professional sport as lock-down measures have postponed all sporting events around the world and people take up hobbies such as bread making and learning how to grow your own mushrooms.
Gamblers heading to market is simple evolution
Speaking to Finance Magnates, Andrew Anastasiou, fintech entrepreneur and Founder of WireWallet, explained that there are essentially two reasons for why this trend is occurring: "it's a simple evolution to turn to Online Trading. However, it would seem appropriate that the vast majority of Traders who have come to the industry from online casinos or sports betting will not stay long, as in general these individuals are either seeking the thrill of a win, or are used to placing a bet which is more calculated by chance as opposed to a financial calculation.
"This isn't to say that individuals coming to online currency trading are not educated, but there is a clear divide between taking a calculated risk on a currency trade, and placing a bet on a sporting event or playing in an online casino.
"Also, being in lockdown has created quite a significant level of boredom and a change in lifestyle for most. Therefore, individuals would be looking for new ways to spend their time and with no sports events happening, the individuals would have been looking for somewhere to use their money and find some enjoyment."
A natural progression
Joe Wainer, Co-founder BingoDaily.co.uk, said to Finance Magnates that it would be a natural progression for gamblers to head to the trading industry.
“Since the lockdown begun in the UK in March, we've seen a noticeable uptick in user acquisitions within the bingo sector. Although BingoDaily's target audience isn't in the financial field, we cover the financial going's on of the big UK publicly listed gambling operators, so we see a definite cross over in interest from what may be considered the unlikeliest of gambling areas.
“Recent UGC statistics have shown that online gambling has grown despite the complete lack of sports betting. People's appetite for online spending/gambling is clearly there, so it would be natural that the trading industry saw an uptick in users too.”
Will gamblers stick around?
Whilst this trend is great for the industry and the brokers that operate within this space, as volatility decreases, is it likely that these new traders will stick around? According to Wainer, it’s all up to brokers.
“A lot does depend on the trading companies themselves,” he explained. “How they retain the new clients, keep them interested and engaged. What nobody wants is a return to the dark days of unregulated investing/gambling like we saw with Binary Options. Education, transparency and strong regulation – something the UKGC have been working hard on – would help the trading industry retain new traders. And yes, we hope they come back to gambling.”
Anastasiou, however, believes that the vast majority will return to casinos and sports betting: "I believe there will be a certain amount of individuals who will enjoy the calculated risk involved in making a trade online. However, as mentioned I feel that the two industries operate on different fields when it comes to the types of ultimate services they provide and the feeling they provide for the Trader or player.
"Once we return to normal, I would estimate that the vast majority will return to casinos and sports betting, as there is a substantial thrill difference when placing a bet or playing in an online casino."
Retaliation from the gambling sector
With some gamblers heading to the trading markets, could we see more crossover between gambling and trading? Once sporting events open back up, companies within the gambling industry might try and entice traders that have moved to the trading markets during the pandemic.
“There should be more of a crossover,” Wainer pointed out. “Spread betting promised this but hasn’t delivered on expectations. One trend I do think will emerge will be the FCA following the UGKCs protection of problem gamblers. If a lot of new traders are not educated properly, they will more than likely lose their money and there will be more scrutiny from the FCA.”
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!