According to market research commissioned by SportsBettingDime.com, the majority of sports bettors engage with sports wagering “…responsibly, openly, occasionally and within their means”.
The study, https://www.sportsbettingdime.com/guides/research/, also highlights the more negative aspect of the activity in that 34.3% hide their gambling from their partner or significant other; 31.4% of sport gamblers are not honest with their partner or spouse about how much money they bet; and 24.2% don’t tell the truth about the frequency with which they bet.
Not surprisingly, 31.9% admit that gambling has interfered with their personal relationships; and 36.6% have skipped an important work or family event to watch a sporting event they have wagered on.
“Ultimately, though, the evidence in our study suggests that the strong majority of Americans betting on sports are doing so responsibly, openly, occasionally and within their means,” said Matt McEwan, Editor of SportsBettingDime.com.
“Two out of three have engaged in no negative betting-related behaviors whatsoever. As we move toward an era of increased regulation and accessibility to sports betting, the data suggest that there’s much to be optimistic about as the market expands and new bettors enter the fold.”
When it comes to paying off their losses, 36.4% of respondents have sold something of value; 24% have borrowed money from family or friends; 11.2% have stolen something of value to pay off debts or raise money to gamble with; and 7.9% have run a line of credit with their “bookie.”
Even though most sports bettors earn more than $50,000 per year, only 21% wager more than $500 per month, and the majority spend less betting on sports than on other forms of entertainment. These modest numbers aren’t surprising considering the frequency with which most bettors are jumping into the action.
Less than 10% of active bettors are wagering every day, with 4.1% wagering once per day and 5.1% wagering more than once per day. By contrast, 24.3% place bets just once per month, while 15.8% only bet on sports as little as once per year.
More than three of four (76.5%) bettors risking over $5,000 per month earn more than $100,000 per year while all respondents risking this amount earn at least $50,000 per year. Only 5.2% of those risking between $1,000 and $5,000 per month earn less than $50,000 per year.
A significant 94.4% of those earning between $25,000 and $50,000 per year risk less than $500 per month, while 79.3% of those earning less than $25,000 per year risk less than $100 per month.