Whether you are a sports betting enthusiast or you are just starting to learn about betting and gambling, there are certain tips you should know. These tips can help you to understand and manage your emotions and risks while placing a bet.
Marketing strategies stimulate betting behaviours
This was a multi-faceted study, designed to explore the impact of sports betting marketing. As well as looking at the effectiveness of promotional initiatives, the researchers considered the impact of regulation on gambling advertising. For example, the UK gambling industry volunteered to remove advertisements from live sporting broadcasts.
The study utilised a convenience sample of 240 people, whose main sports of choice were football, basketball, rugby and horse racing. The research involved four semi-structured interviews, with an average interview duration of 38 minutes. These subjects were selected before the introduction of whistle-to-whistle television restrictions.
As is often the case with studies involving gambling, results were mixed. However, the findings indicate that promotional tactics do indeed have a positive impact on wagering behaviour. In particular, boosted/enhanced odds enticed both problem and moderate risk gamblers. It was also found that custom sports bets had a positive influence on sports betting. Furthermore, marketing techniques such as reduced timeframes and reduced prices made the experience feel more urgent, thus increasing the chances of a winner. A more comprehensive study is warranted.
The study was a success in terms of number of participants, but its findings suggest that more needs to be done to assess the effectiveness of betting marketing. The researchers note that, while there has been no major industry regulation in the UK, there have been initiatives to limit the amount of betting advertisements displayed on television.
Pre-commitment processes allow people to restrict themselves
Pre-commitment processes have long been known to have some impact on the monetary risk-taking process in gambling. Essentially, a pre-commitment process is a strategy that allows individuals to restrict their options by turning a high-risk option unavailable. While there are several ways to accomplish this, one of the most effective ways is through an intervention that will enhance the self-control capabilities of gamblers.
In order to test whether or not a precommitment strategy will reduce the amount of money people spend in a gambling casino, researchers set up a test with sixty participants. Participants were first given a choice of either a small reward now or a larger reward later. The study was done in the form of an experimental delay-discounting task.
The novelty of the task was that it was performed in a real-life setting. The participants were able to receive full details on the reward and loss associated with each of their choices. This was achieved by asking each participant to fill out a “BIS” or “BAS” scale. Using these results, the participants were given the sum of the wins and losses at the conclusion of the task.
A precommitment process is akin to locking a marshmallow in a box before you enter the room. Unlike the lock-and-key method of preventing children from eating the calorie-laden confection, the pre-commitment strategy is a good way to keep your impulsivity in check.
Treating gambling addiction
If you’re suffering from a gambling addiction, you might be wondering how to treat it. While it’s possible to stop gambling on your own, it’s often difficult to do so. Thankfully, there are resources available to help you out.
If you’re worried about your gambling addiction, you can talk to a counselor. In addition to helping you get over your addiction, they can also help you develop skills that will help you avoid relapse in the future.
You can also seek help through support groups. These organizations are run by people who have suffered from the same problem. They are usually free to join, and they can be a good resource.
It’s important to stay away from gambling triggers. If you can’t avoid gambling, you can try medications to help you control your urges. However, these drugs can cause side effects and they can’t cure an addiction.
Inpatient and outpatient treatment programs are also available. These programs allow you to attend classes and sessions at a facility, while continuing to live at home. Some people need the structure of an inpatient program to overcome their gambling problems.
There are a number of support groups for individuals with a gambling addiction. Gamblers Anonymous is one example. This group uses a 12-step approach, like Alcoholics Anonymous.