Gambling is a complex activity that can be defined as the “exchange of money or something of material value for gambling services, with the primary intent to derive entertainment”. Gambling activities include betting on horse races, playing cards for money, participating in casinos and lotteries, and online gambling.
The psychology of betting is an area that has not received much attention in the academic literature. Furthermore, few studies examine online gambling behaviour and how it might differ from other forms of gambling (i.e., land-based casinos) and traditional gambling activities.
Understanding online casino and betting behaviours:
However, it is important to understand online casino and betting behaviour for several reasons: firstly, the popularity of internet access means that more people than ever before can bet on a variety of sporting events and gamble in casinos; secondly, as technology advances, both online casinos and internet-based sports bookies become increasingly prevalent (and more attractive to potential bettors); and thirdly, online gambling is becoming an increasingly popular activity.
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Results of studies conducted:
The results also revealed that people gamble online for three main reasons: firstly, anonymity is important as it allows them to remain anonymous about their betting behaviour which means that they can keep it a secret from friends and family; secondly, many people gamble online because the sites are easily accessible which means that they do not have to travel long distances to place bets (and thus save money on transportation costs); thirdly, most respondents indicated that convenience was another important factor as internet-based betting is readily available at any given time and place (including when people are commuting to work or on vacation).
The results also showed that personality factors such as extraversion, emotional stability, agreeableness and conscientiousness were positively related to online betting behaviour. In other words, individuals who possess these personality traits tend to bet more frequently than others. Furthermore, individuals who gamble online for excitement tend to bet more often than those who gamble for non-excitement reasons.
Online gambling addiction:
Internet-based betting is one of the activities that can lead to Internet Addiction Disorder (IAD). IAD is defined as “a psychological state of excessive use of the internet that begins gradually and escalates over time to the point where it takes precedence over other life interests and daily activities”. Unlike pathological gambling, which does not involve internet use, individuals suffering from IAD spend a significant amount of time on the internet.
The findings also revealed an interesting association between age and online casino/betting behaviour. Specifically, the results indicated that younger gamblers are more likely to gamble online more frequently than middle-aged and older adults.
These factors may explain why younger people place bets using internet-based casino/betting platforms more than older gamblers. This is due to their increased access to the internet and because they are not restricted by parental and work-related supervision. It feels easy to ride the high wave and get swept up in the moment, but it is equally important to be responsible when it comes to gambling. If one starts to develop an addiction, they must remember that resources to tackle addiction is available.
Conclusion:
The results of this study have shown that personality factors are related to online gambling behaviour. Still, the strength of these relationships varies depending on whether participants were betting in casinos or online.
