It’s never been easier to gamble. Looking to place a bet on who will win the Big Game on Sunday? In many states, you just need to open a sports betting app on your smartphone to make a wager. One online brokerage firm even went as far as to offer the ability to bet on this year’s winner, before quickly reversing course.
Sadly, the lines between gambling and investing have been blurred like never before. Many online brokerage firms are enticing their customers to trade frequently by adopting techniques from the gambling industry, such as flashy graphics and frequent alerts. Many firms also steer customers toward risky trades that can become worthless in a matter of hours.
