Mental health experts have voiced concerns about possible negative effects of gaming and gambling on traditional-aged college students and emerging adults. For example, in a 2020 study in the journal of Depression and Anxiety, which included over 40,000 undergraduate students across the nation, ten percent of students reported that computer gaming/problematic internet use had a negative impact on their academic performance, and that this use was associated with mental health symptomatology. In addition, a 2023 study in the journal of HealthCare summarized how gambling among college students is associated with poor academic performance, violence, substance use, mental health symptoms, and even suicide.
Despite that gaming and gambling are often separated, gamified investing appears to combine aspects of these domains, and some mental health experts fear that gamified investing targets emerging adults who typically don’t have the same level of financial literacy as seasoned traders. Thus, young traders might be vulnerable to consequences that could impact their mental health, well-being, and livelihood.
Concerns About Gamified Investing Among Emerging Adults
According to a 2023 article on Nasdaq.com, gamified investing occurs when financial platforms and trading apps integrate game-like elements, such as rewards for completing trades, competition, badges, and leaderboards. According to this article, the purpose of gamified investing is to utilize the principles found in many video games to better engage users and to motivate their investment activity. The article noted possible risks of this type of investing, such as increased financial risk-taking and fostering a short-term mindset.
In 2024, TheConversation.com, an online platform of articles written by academic and research experts, released a report on the popularity of gamified investing apps and the potential risk for young investors. According to this report, gamified investing is effective in attracting young investors, and it encourages a casino-like experience that could encourage emerging adults to chase large financial payouts. This report also noted potential benefits of gamification techniques, such as price notifications that make it easier to correct mistakes. However, the report argued that financial institutions need to decide if they would rather empower a new generation of investors or simply turn young investors into gamblers.
Possible Impact Of Gamified Investing On Mental Health
According to a 2025 report on IV-capital.com, critics of gamified investing argue that it focuses on emotional decision-making and behavior that increases volatility as well as the potential for significant financial loses. Such factors could have a negative impact on the mental health of emerging adults. As stated, many emerging adults have low financial literacy in terms of investor trading, and there’s concern that this could be a risk factor. For example, a 2020 report on Frobes.com discussed how a young investor died by suicide after seeing a $730,000 negative balance in a trading app. According to this report, the balance may not have represented uncollateralized indebtedness, but rather a temporary balance before the assigned stocks settled into the account.
A 2022 report by the Financial Conduct Authority also expressed concerns about problematic behaviors linked to gamified trading apps. According to this report, gamified investing can lead to gambling-like behavior among investors. Furthermore, a 2025 report by the International Finance Student Association argued that gamified investing can stimulate the release of dopamine in the brain, which can result in addictive compulsions to keep investing.
In conclusion, emerging adults should make responsible decisions while engaging in investor trading. Part of this decision-making is being informed about the unique impact of gamified investing. As stated above, there are noted benefits to these types of investments. It’s interesting to note that a 2024 study in the journal of BioMed Central Public Health found positive effects of gamified interventions on digital apps that promote mental health prevention. Thus, gamification can also be a powerful tool in promoting mental health outcomes among emerging adults.