Trading platforms sell the dream of making big money fast. The reality can be far more brutal | Kirsty Major

3-5-2023 Regulations The Guardian 197 Print this Page

With wages stagnating, people are turning to complex financial products known as CFDs – risking addiction and disastrous losses Who doesn’t want some extra cash – especially when prices are soaring and inflation is eating away at people’s savings? Over a decade ago, the answer to increasing earnings might have been to work more hours or train for a better-paid job, but these days work no longer pays. Workers in the UK are £11,000 a year worse off after 15 years of wage stagnation. Over the same period, financial tech companies (fintech for short) began to offer a tantalising alternative to the drudgery of work. Those who were otherwise uninitiated into the world of finance could make big money fast by trading in something called contracts for difference (CFDs) on online platforms. Kirsty Major is a deputy Opinion editor for the Guardian Continue reading...

GambleRss.com always shares this Contents with

License.

Read the full Article at : The Guardian

Read the full Article: Trading platforms sell the dream of making big money fast. The reality can be far more brutal | Kirsty Major

Search Gambling News

24h Most Popular News

New York Launches Volunteer Self-Exclusion Support Program
To foster a secure gambling environment, the New York Council on Problem Gambling (NYCPG) launched a voluntary self-exclusion (VSE) support...
Gross River Card in $500k Pot on Hustler Casino Live Sends 'Jungleman' to the Bank
Santhosh got the dream river card against Dan Cates in a monster pot.
Games Inbox: How GTA Online 2 works with GTA 6, Elden Ring DLC hopes, and the Fallout TV show
What does GTA 6 mean for GTA Online? (Picture: Rockstar Games) The Friday letters page asks which is the best non-Mario kart game, as one...
Fanatics Sportsbook Set To Enter Connecticut Via State’s Lottery
Fanatics’ ambition to have its online gambling product live for a significant portion of the United States population is becoming gradually...
GTA Online adds wildlife and Ballad of Gay Tony character but no sign of GTA 6
It’s business as usual in GTA Online (Picture: Rockstar Games) To tease fans even more, Rockstar has announced an unusually big GTA...
UK Gambling Industry Records Historic Revenues amidst Online Slots Surge
The UK ’s betting and gaming industry has achieved record-breaking revenues, surpassing £15.1 billion ($19.11 billion) in the year ending...
Solid Snake and Family Guy coming to Fortnite Chapter 5 Season 1 reveals leak
Snake? Snake?! (Picture: Twitter) Metal Gear Solid is coming to the next chapter of Fortnite but there’s confusion as to why now...
Maverick Carter Was Involved in an Illegal Betting Ring, Reports Say
Reports claim that Maverick Carter , an American sports-marketing businessman and media personality, has admitted to betting with an illegal...
‘We’re killing the youth of America’: calls for crackdown on gambling
Worries that gambling addiction has spiked in the US as legal sports betting booms have led to calls for increased regulation The United States...
Xbox to start ‘new Xbox mobile platform’ to rival Apple and Google
The future of Xbox? (Picture: Microsoft) Microsoft’s purchase of Activision Blizzard will kickstart a new focus on mobile gaming , as...