From the Flight Deck to the Trading Desk: Gamblified Investing Behavior in a Commercial Airline Pilot

Abstract

The convergence of investing and gambling has accelerated with the proliferation of gamblified investment products characterized by high volatility. This case report examines a 42-year-old male commercial airline pilot who developed maladaptive engagement with high-risk financial instruments during the COVID-19 pandemic, resulting in significant financial losses. The patient's behavior, marked by an inability to adapt to market conditions and attempts to recoup losses through increasingly speculative investments, mirrors patterns observed in problem gambling. Notably, as demonstrated by proficient performance on the Big Three financial literacy assessment, the patient's elevated financial literacy level failed to serve as a protective factor against problematic speculative behavior. This case highlights potential risk factors in aviation professionals, including personality traits like high extraversion and elevated disposable income. Following cognitive behavioral therapy (CBT), the patient successfully transitioned to more conservative investment strategies, with improvements in psychometric scores. However, his posttreatment score on the National Opinion Research Center Diagnostic Screen for Gambling Problems, while improved, still indicated an at-risk status, necessitating ongoing monitoring. This case underscores the need for enhanced awareness, targeted screening protocols, and tailored interventions within occupational health settings, particularly in safety-critical professions like commercial aviation. Future research should focus on developing comprehensive screening instruments for the early identification of problematic financial behaviors, investigating the long-term efficacy of therapeutic modalities like CBT, and examining the prevalence and safety implications of high-risk financial behaviors among aviators.

Keywords: airline pilots; cognitive behavioral therapy; financial risk-taking; gamblified investing; occupational health screening.

Figure 1. Psychometric assessment scores for the airline pilot at two time points: May 2022 (initial assessment) and January 2024 (follow-up assessment after intervention)

The graph shows scores for four different psychometric tests, demonstrating the changes in the pilot's psychological state over time. BDI, Beck Depression Inventory; YBOCS, Yale-Brown Obsessive Compulsive Scale; NODS, National Opinion Research Center Diagnostic Screen for Gambling Problems; SIS, Beck's Suicide Intent Scale

Figure 2. Potential factors contributing to problematic financial behaviors among airline pilots.

This schematic diagram delineates the key factors potentially influencing airline pilots' engagement in problematic financial behaviors. Inherent novelty-seeking personality traits may predispose certain individuals to financial risk-taking tendencies. Furthermore, the comparatively substantial remuneration afforded to commercial pilots may facilitate greater access to high-risk financial ventures. Finally, industry disruptions, such as those experienced during the COVID-19 pandemic and anticipated future challenges related to climate change, may result in increased discretionary time. This surplus of unstructured hours could potentially exacerbate risk-taking behaviors, culminating in a propensity toward gamblified investment practices. Image credit: Piercarlo Minoretti.