Why so many people trade warrants?

Trading of warrants is an unfair game despite the implied volatility and effective gearing. When the market price of the underlying stock moves in favour of the warrant,the price of the warrant may not rise but if the price of the underlying stock moves in disfavour of the warrant, the price of the warrant is sure to fall. Of 10 traders, 9 are losers and only 1 is winner. Why do many small speculators like trading warrants more than stocks aware of the high risk and unfairness?