Gambling-like digital assets and gambling severity: a correlational study with US sports bettors consuming cryptocurrencies, NFTs, and fan tokens

This paper explores the relationship with gambling severity of a relatively new set of speculative digital products, namely cryptocurrency trading, non-fungible tokens (NFTs), and fan tokens. These products have gained notoriety in sports marketing strategies (among other realms) and are considered to be potentially problematic because, disguised as non-gambling products, they include gambling-like design features that might make sports fans more vulnerable when consuming them. A sample of regular sports bettors (N = 525) based in the U.S. was recruited in 2023 via an online panel to understand the association between these types of consumptions. The findings revealed a significant overlap between experiencing gambling problems and consuming cryptocurrency trading products, NFTs, and fan tokens. The results indicate a modest relationship between the severity of gambling and the likelihood of owning the studied digital assets, of holding positive attitudes toward them, and of being more frequently exposed to their advertising and marketing promotions. The relevancy of these findings resides in the fact that sports bettors might be perceiving and treating gambling and gambling-like assets as part of the same product category, when in reality the latter are legally required to comply with fewer consumer protection measures than gambling products.