Fear of Missing out on Financial Gains: Associations Between Fear of Missing Out, Problem Gambling, and Speculative Trading in College Students

Abstract

In recent years a fear of missing out (FOMO) on short-term monetary gains through speculative trading has been highlighted as a driving force of financial behaviors. Additionally, increasing evidence has likened speculative trading to gambling. The current study sought to determine whether financial FOMO is linked to stock market and cryptocurrency trading activities and problem gambling severity in both traditional gambling and financial trading domains, among a sample of 258 college students. Results of binomial regression and hurdle model analyses found that financial FOMO was linked to participation in stock market and cryptocurrency trading. Financial FOMO was also associated with problem gambling severity in traditional gambling and the presence of gambling problems in the stock market trading domain. Our results suggest that financial FOMO may be a salient risk factor of problem gambling in traditional gambling domains and, to a smaller degree, in the speculative trading domain among young adults.