Crikey, 400:1 leverage!? I've never heard of such a thing before. Is there anywhere else where a regular guy can get this kind of leverage?

(As to the term 'gambling', I think people are using the broad definition by which day-trading and other such financial transactions are termed a 'gamble' rather than a 'very risky, poorly informed financial investment on such a short time-scale that one can't possibly make informed predictions of price movement'. Similarly, I believe that poker is often legal because it's a 'game of skill', but that doesn't mean it's not also a gamble.)