Financial speculation in Canada and its relationship to gambling

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Author(s): Williams, Jennifer Nicole ; Williams, Robert J. ; Gooding, Nolan Brian ; Mix, Jessy

Journal: International Gambling Studies

Year Published: 2022

Date Added: July 06, 2022

Financial speculation refers to high-risk stock market activities. These activities are similar to gambling. The researchers used data from a large-scale, population-based study to estimate the prevalence rates of financial speculation in Canada. They also explored the demographic and health profile of people who engaged in financial speculation, and the link to gambling. The national prevalence rate was 3.6%, with Alberta having a higher rate than other provinces. People who engaged in financial speculation were mainly men between 30-49 years old, with higher education and household income. They were more likely to drink regularly and smoke occasionally, but rate their health and life satisfaction higher. They gambled more frequently, especially on sports and casino table games. Gambling problems were also more common among these participants.

Citation: Williams, J. N., Williams, R. J., Gooding, N. B., & Mix, J. (2022). Financial speculation in Canada: Prevalence, correlates and relationship to gambling. International Gambling Studies. Advance online publication. https://doi.org/10.1080/14459795.2022.2041702

Article DOI: https://doi.org/10.1080/14459795.2022.2041702

Keywords: finances ; financial impacts ; financial literacy ; gambling ; gambling behaviours ; gambling problems ; stock market

Topics: Gambling Related Harms ; Individual Harms

Conceptual Framework Factors: Environment - Social and Economic Impacts ; Gambling Environment ; Types - Motivational Characteristics ; Gambling Exposure

Study Design: Observational: Cross-sectional

Geographic Coverage: Canada

Study Population: Adults aged 18 and older and living in one of the 10 provinces of Canada (n = 23,952)

Sampling Procedure: The researchers used data from the 2018 Canadian Community Health Survey (CCHS). The annual CCHS is administered by Statistics Canada. It excludes full-time members of the Canadian Forces, youth aged 12 to 17 living in foster homes, the institutionalized population, and people living on First Nation reserve. Households are randomly selected from clusters, with each cluster making up of 100 to 600 households. One person is then randomly selected from each household to participate, with a higher chance of selection for people aged 18–35 and aged 65 or older. The 2018 CCHS survey included gambling and financial speculation questions, which were asked only of individuals aged 15+ living in the provinces (no territories).

Study Funding:

The Canadian Consortium for Gambling Research provided the funding for the inclusion of the gambling and speculation questions in the CCHS.