What motivates gamblers? Money is often the first thing that comes to mind when it comes to gambling. Betting can be very lucrative when done right, and many bettors are drawn toward it for this reason. But there are other motivations for why people enjoy betting, such as the excitement of taking a risk and potentially winning big.
Even if they don’t win every time, some bettors enjoy the thrill of trying their luck and hoping for a big payoff. For some gamblers, it’s less about the money – it’s more about gaining bragging rights over friends or seeing how well their strategy will pan out in real-life scenarios.
The feeling of success that comes with winning or even just playing is another motivating factor for bettors who take pride in their skillset.
Studies show that gamblers don’t care about money.
Sports betting has become a popular pastime for many people around the world. A recent study conducted by several prominent universities has revealed that most individuals who partake in sports betting are not doing it to turn a profit.
What motivates gamblers? Instead, 49.5 percent of those surveyed admitted that they bet simply for the thrill, and 30 percent said that they view betting as an added value to watching the game itself.
The study was conducted over an extended period and included data from various countries across multiple continents. During this period, more than 20,000 individuals were surveyed on their reasons for sports betting. They answered questions regarding their age, income level, and what type of bets they placed on sporting events.
Only around 18.7% of bettors were motivated by money, the study found.
“I live and breathe sports, so once I learned (daily fantasy sports) and betting were legal, I immediately made accounts. I began betting because I saw it was a way to make the game even more fun,” an anonymous respondent to the survey said.
A recent study by the Gambling Research Institute found that young adults aged 18-24 spend an average of $263 per week on gambling activities. According to the survey, this weekly expenditure is more than double what people aged 25 and over spend on gambling-related activities.
The study surveyed 1,000 individuals across different age ranges who had a history of gambling activity in the past three months. The data revealed that those aged 18-24 spent an average of $263 per week on various forms of gambling, such as sports betting, slot machines, card games, and lotteries. This figure is dramatically higher than the average amount other age groups spend, which was significantly lower at an average of $106 per week for people aged 25 and above.
This research indicates that younger adults are more active gamblers than their older counterparts.
Set up your betting business to better serve punters
As a bookie operating a betting business, it is essential to set up your operation to better serve your bettors’ needs. To ensure customer satisfaction, it is necessary to understand the different types of bettors and provide them with an environment that caters to their individual preferences.
As a bookmaker, it is essential to stay current with market trends and provide bettors with an engaging, agile betting experience that complements their passion for sports. Bookmakers must think outside the box and utilize technology to create unique experiences that all types of bettors can enjoy to achieve this goal.
One way to do this is by offering mobile betting platforms which allow customers to access their accounts on the go.
Additionally, bookies can provide live streaming of major sporting events so bettors can make informed decisions during their bets. Bookmakers should also consider implementing data analysis methods to gain insights into customer preferences and trends to ensure they provide relevant markets and bets for their customers.
Are you looking to get into the betting market? VIP Per Head gives you all the tools necessary to create a good and user-friendly betting site.
With their cutting-edge technology, robust software platform, and personalized customer service, VIP Per Head makes it easy for you to stay ahead of your competitors.
VIP Per Head’s software platform provides real-time wagers tracking, so you can monitor account activity at any given time.
They also offer customer support 24/7 through phone or live chat so that customers always respond quickly when they need help with an issue. Their secure payment processing system ensures that all transactions are encrypted and safe from fraud or hacking attempts.
What motivates gamblers? with this information in mind you can create your own betting business, here is a post on how to create your own sportsbook.