Why you need to work out whether you’re a gambler or an investor
Trading based on short-term market movements for retail investors shares more characteristics with sports betting than it does with investing – ie, the likelihood of loss.
Sport plays a significant role in the Australian psyche. In an Olympic year (coronavirus-permitting), that usually goes up a notch on the international scale.
Australians are also partial to a punt on their favourite sport. You only have to watch a sports event and see the near-saturation level of online gambling advertising. Clearly Australians enjoy taking a punt, and similar trends emerged during last year’s COVID-19 lockdowns with an uptick in both brokerage and online gambling account openings.
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Robin Bowerman is head of market strategy at Vanguard Australia.
