Does Sports Betting Affect Investment Behaviour? Evidence from Ghanaian Sports Betting Participants.
Date
2020
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Journal of Gambling Issues
Abstract
The study sought to assess the impact of sports betting on the investment behaviour of
Ghanaians, focusing on sports betting centers within the Accra Metropolis, Ghana. The
objectives of this observational study were to determine how individuals perceive the risk
of sports lotteries as opposed to investment, to determine if sports lottery was viewed as an
alternative to investments and savings, and to understand how participation in sports
lotteries affects individuals’ ability to save and invest. In adopting a survey approach, 99
sports betting participants across selected betting centers were examined using
questionnaires and the data subsequently analyzed through cross-tabulations. The study
found that sports betting behaviour had a complementary rather than a substitutionary effect
on investment behaviour. The participants were both risk-aware and risk-averse but
engaged nevertheless in betting for a chance of winning a high payoff. Thus, the findings
demonstrated that sports betting participants viewed betting as a means to an end, a chance
to improve their financial circumstances, rather than as a substitute for investing, and
exhibited understanding of a clear distinction, with regards to behaviour, towards investing
and sports betting. In return for a substantive payoff, the respondents were willing to stop
sports betting, thereby indicating that the financial payoffs were the main motivation for
sports betting. The findings also provided evidence that individual sports betting behaviour
can be moderated by influencing one’s financial circumstances.
Description
Research Article
Keywords
sports betting, investment behaviour, football gambling
Citation
Ofosu, Albert; Kotey, Richard Angelous (2020) : Does Sports Betting Affect Investment Behaviour? Evidence from Ghanaian Sports Betting Participants., Journal of Gambling Issues, ISSN 1910-7595, Centre for Addiction and Mental Health, Toronto, Vol. 43, pp. 61-83, https://doi.org/10.4309/jgi.2020.43.5