How the rising popularity of cryptocurrency influences gambling addiction treatment and prevention: An in-person workshop in Zurich, Switzerland
In November 2024, Dr. Steinmetz had the opportunity to contribute to a full-day seminar in Zurich on a topic that has become increasingly urgent in the context of gambling addiction: the entanglements between cryptocurrency, blockchain technology, and gambling. The event was organized by the Ostschweizer Fachhochschule, specifically by the Institut für Soziale Arbeit und Räume, as part of their “Spielen ohne Sucht” program—an initiative committed to supporting professionals in the prevention and treatment of gambling addiction. He was invited to introduce and critically reflect on the phenomenon of cryptocurrency and its implications for gambling-related harms, drawing on my ongoing empirical research in this field.
The workshop brought together a diverse group of professionals—counsellors, social workers, and prevention specialists—many of whom are beginning to encounter individuals whose problematic behavior no longer fits traditional understandings of gambling. Instead, they are confronted with clients engaged in compulsive crypto trading, investing in tokens with little understanding of the mechanisms behind them, or spending large amounts of time and money on decentralized gambling platforms. These new behaviors, while often cloaked in the language of finance and innovation, bear striking similarities to established patterns of gambling addiction.
To lay the groundwork, the seminar began with a conceptual introduction to cryptocurrencies: what they are, how blockchain technology functions, and how these systems differ from traditional financial infrastructures. Establishing this foundation was essential, not only because many participants were engaging with the topic for the first time, but also because these technologies are often shrouded in technical jargon and media hype. We unpacked the different types of crypto-assets, explored their use cases, and discussed how the crypto ecosystem facilitates not only speculative investment but also entirely new gambling modalities.
Importantly, we also addressed the growing number of gambling platforms that exclusively operate with crypto-assets. Many of these platforms are hosted outside of regulated jurisdictions, making them especially difficult to monitor or intervene in. The use of cryptocurrencies in gambling settings introduces an additional layer of opacity—financial transactions become harder to trace, and the lack of consumer protections significantly heightens risk for vulnerable individuals.
The subsequent sessions shifted focus toward the practical and clinical relevance of these technologies. We examined the structural and psychological overlaps between gambling and crypto trading, including the role of volatility, the gamification of financial decision-making, and the addictive potential of always-on, mobile-based platforms. Participants shared their experiences from clinical settings, where the boundary between financial investment and compulsive gambling is increasingly blurred—particularly among younger clients.
The day concluded with a discussion on the implications for practice: What does this mean for counselling? For prevention work? For policy? While there are no easy answers, one thing became clear—those working in gambling prevention and treatment need to be equipped with at least a working knowledge of how cryptocurrencies operate, how they are marketed, and why they are appealing, particularly to younger, tech-savvy populations. Prevention strategies must begin to incorporate language, scenarios, and risk patterns drawn from the world of digital finance. Clinical settings, likewise, must evolve to better detect and address crypto-related behavioral addictions that do not yet fall neatly within diagnostic categories.
We would like to extend my sincere thanks to the organizers at the Ostschweizer Fachhochschule and the Spielen ohne Sucht program for hosting this seminar and for inviting me to contribute to this essential dialogue. Their dedication to fostering interdisciplinary understanding and addressing new forms of risk behavior is both timely and deeply necessary. For those interested in exploring this field further, Dr. Steinmetz continues to build on his research into the intersections of cryptocurrency, blockchain, and gambling.