Can We Afford To Gamble With Mental Health? New Digital Threats To Well-Being

The mental health of the entire population is vital. However, several new age, digital activities constantly put the mental health of people at risk. In the past, two of the biggest threats to the mental health of people have been social media and gambling.

Although the government and several organizations have been taking appropriate measures to put these activities under control with stringent regualtion, these threats never go away completely. Now, new threats are starting to surface in the form of unregulated online gambling, crypto investments, and NFTs. In this article, we will discuss the threats posed by online gambling, NFTs, and Crypto investments to our mental health.

How is Crypto Threatening to the Mental Health of People?

Due to the instability of the crypto market and addiction, investing in crypto has certainly affected the mental health of many Americans. Many Americans lose their sleep and have addictive thoughts about the crypto market because they try to stay updated with its fluctuating prices. As a result of that, there have been lots of mental health disorder cases reported all over the States.

Additionally, despite the state of their trades, good or bad, most crypto investors are constantly suffering from mental stress. This is because they are always under the pressure of making the right trade decision every time. In most cases whenever the crypto market price drops, many investors go through anxiety, panic attacks, PTSD, and other mental health disorders.

Just like abusive drugs, the constant fluctuations of the crypto market generate the ecstasy of winning and depression of losing in the minds of investors. Therefore, to attain the ecstasy of winning crypto investors frequently fall into obsessive trading and eventually lose more than they bargained for. As a result of its high level of threat, the government needs to have the crypto market well-regulated to keep citizens safe.

How is NFT Threatening to the Mental Health of People?

Even though many people purchase NFTs without having problems, many more people have depleted their funds through NFTs transactions. As a result of that, most of them get separated from their families and loved ones which eventually yields depression. If not well monitored, depression could lead to serious mental health disorders. This occurs due to a lack of control and addiction in most NFTs investors.

Due to its volatility and market value fluctuation NFTs cause a lot of mood swings in investors which most times leads to mental disorders. Besides that, the market is always in operation and many Americans are always on the lookout for the latest Tokens to purchase. As a result of that, a lot of NFTs investors develop dysfunctional behavioural problems like sleepless nights. Besides that, they feel irritated and apprehensive whenever they are unable to purchase the latest Tokens.

Like every addictive habit, NFTs addiction starts gradually from the constant thoughts of Tokens and how to purchase more of them. As a result of the constant thoughts of the market, investors often spend more funds than they can afford and end up in debt. Besides that, many Americans invest their money in NFTs as an escape route from stress and depression. However, the majority of them end up losing their capital which would in turn increase their level of depression and eventually cause mental health disorders.

How is Unregulated Online Gambling Threatening to the Mental Health of People?

Although online gambling is thrilling, it could become threatening to mental health if it becomes an addiction and isn’t properly regulated. Addicted gamblers most times struggle to control their online gambling activities. Due to their addiction, they often gamble at illegal casinos and lose lots of money which in some cases can result in mental health disorders.

Although there are regular cases of jackpot winnings, there are also cases of terrible losses which result despair for the individual involved.

Many casino players have turned to online versions of their favourite games. In fact, explains that playing casino online statistically gives you a better chance of winning compared to when you play in a physical casino. However, players who play to earn a living often fall short and end up losing more money.

Additionally, the government monitors the operations of regulated online casinos to control online gambling addiction in citizens. Besides that, there are government-funded programs available for citizens with online gambling addictions and mental health disorders.

Final Thoughts

Unlike investing in crypto and purchasing NFTs, the operations of online casinos are regulated by the government, so they are safe for citizens. However, any form of addiction, either playing games at online casinos, trading crypto, or buying NFTs is a threat to mental health.

Advertising disclosure: We may receive compensation for some of the links in our stories. Thank you for supporting LA Weekly and our advertisers.