Patterns for Sports Gambling

Patterns for Sports Gambling

Emotional, irrational behavior is something that often drives gamblers to bet. One might bet for a favorite team. Another might believe in personal gambling skills. Some of these patterns could harm bettors turning them into problem gamblers. Thus, researchers and policymakers are in the constant search to identify what drives certain players into harmful behavior. The important point is the balance between restricting those with dangerous patterns of play and allowing gambling for those with recreational interests. Applying too much pressure brings the risk to promote an illegal market and search for the grey zones in the law.

Authors of this review:

Nikita Goncharenko

Date of Publication:

04/09/2022

Academic Reference:

Gainsbury, S. and Russell, A. (2015). Betting Patterns for Sports and Races: A Longitudinal Analysis of Online Wagering in Australia. Journal of Gambling Studies. 31. 17-32.

Tags:sports gamblingdata analytics

Key Ideas

Marketing efforts of gambling providers aim at educating players on how and where to place bets online on their platforms.

The negative side-effect of prohibiting gambling is the stimulation of the illegal market. The best example could be the long-standing prohibition of gambling in the USA, which was amended in 2018.

The main reasons for preferring online over offline gambling include 1) lack of travel 2) convenience and accessibility 3) lack of crowds and unpleasant people 4) privacy and anonymity 5) physical comfort. [anonymity is the strange one: offline offers playing without registration, while online requires players to provide personal information.]

For 10 years of study, players were active for 5.8 years on average. [could this be the average customer's lifetime?]

92% of players lost their money overall and on average players lost 34% of the total bet amounts. 78% of all bets were losses.

The common pattern for bettors is to combine/compliment sports consumption with sports gambling. (Paul and Weinback 2013)

An interesting phenomenon: some fans tend to choose bets for their favorite team to win. This opposes the idea of choosing the bets to win the bet itself.

Most successful types of bets (for players) were found to be "half of the place" and "handicap".

Some sports bettors believe in "skilled betting", which could be seen as cognitive distortions.

There is also a "novelty" category of bets. This type is intended to generate interest in betting, promoting the value of novelty. Examples of this type could be outcomes of elections and entertainment or popular events. These events are typically the most profitable for players.

The main aim of policymakers is to protect gamblers by offering appropriate safeguards but not overly restricting recreational players.

Citations

"easy accessibility of online wagering is reportedly the key driver in customer uptake and participation in this mode of betting" (Gainsbury et al. 2012b)

"Approximately half of all bets were placed for a win ... This may indicate that bettors prefer simple, uncomplicated bets"

"betting trends follow popular sports spectatorship and bettors, like fans, appear to enjoy seeing the best teams and preferring games televised on major networks" (Paul and Weinback 2013).

"the outcomes of previous research may imply that bettors may be influenced by emotions and preferences when placing bets, rather than probability of economic outcomes."

"how motivation affects actual gambling behaviour. Further research may also identify specific betting patterns and subgroups of players."

External References

Paul, R.J., & Weinback, A.P. (2013). Baseball: A poor substitute for football: More evidence of sports betting as consumption. Journal of Sports Economics, 14, 115-132.

Gainsbury, S., Sadeque, S., Mizerski, R., & Blaszczynski, A. (2012). Wagering in Australia: A retrospective behavioural analysis of betting patterns based on player account data. Journal of Gambling Business and Economics, 6(2), 50-68.