North America is likely to witness a substantial rate of growth in the sports betting sports betting market in the years to come. According to the U. Europe is likely to witness a sluggish rate of growth in the sports betting market over the forecast time period, due to a long history of sports betting in the region.
Various key players in the market are also taking sports betting to the next level via substantial technological developments. These key companies are collaborating via agreements and mergers and acquisitions for enhancing their position in this regional market. Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles.
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Zion Market Research. Formats available: Original Medium Small. GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public. He added to his troubles when he attempted to cover the theft by staging a carjacking, which was captured on hotel video surveillance. In the fall, his legal woes escalated when he was jailed for violating the terms of his probation, which included random drug testing and prohibitions on alcohol use and gambling.
Rubalcada, who drank heavily during two ESPN interviews, remains in jail awaiting a spot at a drug treatment facility. After Rubalcada was arrested, one of Walters' attorneys visited the county prosecutor's office -- without prodding -- armed with records detailing how the gambling operation was set up legitimately through a limited liability corporation.
The move surprised and impressed authorities, as did the fact that a former Vegas detective was overseeing the group's security arm. They were better set up legally than your average business, let's put it that way. In the sports gambling world, where the house takes a 10 percent cut, bettors need to win Any additional wins represent pure profit -- and when hundreds of thousands of dollars are wagered on a single game, lots of it. Walters gets those extra 2 percentage points and sometimes much more.
He has boasted that he has suffered only one losing season in 39 years, and past criminal investigations provide a snapshot of his success. The raid against the Computer Group revealed that the syndicate won an eye-popping More recently, an unsuccessful money-laundering case in found that Walters was consistently winning as much as 58 percent a week, sources told ESPN.
This year, Walters says, he expects to break even. Another myth about professional gambling is that every big bet is made in Vegas. Placing bets outside Nevada is a legal gray area and, as a result, a subject on which those close to Walters refuse to shed much light. But multiple sources estimate that only a small fraction of Walters' bets are actually placed there. The remainder, they say, happen either at offshore gambling sites or, to a lesser extent, through a network of bookies, many of whom have had relationships with Walters for decades.
Sources say Walters' operation has become more active in offshore sportsbooks, in Europe and in the emerging Asian market. A raid on Walters' office found more than 40 telephones, from which authorities said more than 12, long-distance calls a month were placed to illegal bookmakers in the U. Walters was indicted three times for money laundering in connection with the investigation, but the charges were dropped before trial.
Today, sources say, the headquarters of Walters' international operation is located outside the United States. The last known location was in Panama, according to sources, after earlier offices were based in London, the Bahamas and Tijuana, Mexico. Mastronardo, who says he worked for Walters from to , calls his former boss a genius. But he also witnessed what he saw as a dark side -- Walters could be cunning and openly malicious, he says. Mastronardo, who has also dabbled as a bookie and worked in the Caribbean as an offshore sportsbook operator, says he and 20 or so underlings moved bets for Walters from Philadelphia before he moved to Las Vegas to work out of Walters' headquarters in exchange for a 25 percent cut of the winnings.
Holding court in his airy fifth-floor beach condo in Boca Raton, Florida, Mastronardo, 59, looks fit and tanned, like he just walked off the golf course. But any day now, he will settle into a federal prison for a nine-month stay, the price for pleading guilty last year to illegal gambling and racketeering charges in connection with his post-Walters operation.
While many former associates fear speaking openly about Walters' business, Mastronardo says he has little to be afraid of. Talking about his past work helps ease some of the pain and embarrassment he's caused his family after more than 15 arrests, he says, adding that he's sought counseling to overcome his shame. Mastronardo, an All-American wide receiver at Villanova and 10th-round pick of the Philadelphia Eagles in , says he first met Walters in the s while playing in a golf tournament for high-rolling gamblers hosted by Jack Binion, who owned a large casino in Vegas.
Nearly two decades later, he says, the connection paid off when Walters asked him to move games. One of Walters' major advantages, Mastronardo says, is his focus on smaller college games, which don't attract much action and thus often aren't researched as deeply by bookmakers. Billy's art was to keep that game close to 7 and bet as much as you can without the world finding out about it. One memorable night, Mastronardo says, he was at dinner with Walters and his wife when Walters began asking about a basketball game.
Now you can bet in foreign markets. Some he bets in the casino. Some he bets offshore. Some he bets in different markets. So he uses the market however he wants. But the art was that he could bet a game for a lot of money and nobody would know about it. But there were reminders that Walters could also be ruthless. Federal agents stopped him before he could leave the bustling McCarran airport terminal and began pressing him to turn over the money, which they suspected was earned illegally.
Mastronardo managed to get a message to Walters through Fats, a driver sent to the airport to pick him up. The reply from Walters was matter-of-fact: "Tell John good luck. After several hours of questioning, agents accepted Mastronardo's defense that he was a professional gambler and allowed him to leave with the money.
But the next morning, after Walters got his cash, he issued Mastronardo a warning: "He says, 'Johnny, you know the rules, right? If I don't get the money, it means I didn't receive the money. It means you are on the hook. That is the way it is. Years later, when Mastronardo was operating an offshore sportsbook, he believes Walters planted a whale -- betting parlance for a high roller -- to hit his business. But after about three weeks, the man was winning so often that Mastronardo shut down his account, suspecting Walters had smartened him up.
But it is all fair in love and war," Mastronardo says, shaking his head. And he is very cunning. He is kind of like a boxer you don't like personally but you respect his skill. Tiger Woods in his prime. You don't like the person, but you like the golfer. For his part, Walters says he hasn't spoken with Mastronardo in 15 years. I don't recall having any relationship with him. He was a gambler, bet on sports, good golfer and a very personable guy. Authorities suspected that Icahn had tipped off Walters about potential investments that would have affected the price of two stocks and that Walters had informed his friend Mickelson.
Mickelson has since been cleared on one of two inquiries, but the investigation remains open -- though no charges have been filed and authorities refuse to discuss the case. If Walters is never prosecuted, the investigation would join a long list of occasions on which authorities have tried and failed to bring him down.
Many politicians, investigators and prosecutors asked that their name not be used in this story, lest Walters tie them up in a lawsuit they can't afford to fight. Walters' closest call happened 30 years ago, when the FBI conducted raids against the Computer Group in 16 states. Walters was a key member of the group's operations, Assistant U.
Attorney Eric Johnson says: "[He] was responsible for getting the bets out. And he had a whole series of bookmakers who were willing to take a bet and send bets out to other people, because they wanted to get that information first, so as soon as they took the bet from the Computer Group they could change their line before they got hit. Walters maintained his innocence, and he was acquitted in a trial filled with plot twists.
Just ahead of trial, he won a stroke of luck better than pocket aces. Jane Shoemaker, an inexperienced prosecutor new to the Vegas office, was handed the case. Then the government's star witness -- who was to be responsible for guiding jurors through allegedly incriminating evidence from seized records and audiotapes -- suffered a heart attack the night before he was to testify. District Judge Lloyd D. George, a staunch conservative with a reputation for favoring prosecutors, invited him to meet with the lead FBI investigator on the case.
George said the meeting would take place only if Walters did not inform his attorney, Oscar Goodman, who had become famous for representing mobsters and would later be elected mayor of Las Vegas. Walters didn't inform Goodman in advance, but he told him after the fact, according to John L. Smith, who wrote a biography on Goodman. Outraged, the attorney filed a motion to dismiss the case. To allow it to proceed, George recused himself, and he was replaced by a liberal-leaning judge from Pennsylvania.
The jury voted not guilty on 64 counts and failed to reach a consensus on 54 others -- which the government dismissed rather than prosecute again. In Computer Group founder Mindlin's opinion, "the judge had to recuse himself, and that is what saved us. Some people suspect that Walters has helped himself stay out of trouble by giving investigators information. Walters denies the allegation, saying all he did was answer questions about the differences between gambling and bookmaking during the Computer Group case.
I am a lot of things, but I am not stupid. If I was gonna be an informant, I would assure you I would have negotiated a deal that I never would have been indicted for betting on sports. After Goodman found out that Walters had cooperated with law enforcement during the Computer Group prosecution, the two parted ways. Walters says he removed his attorney; Goodman told Smith he quit the case.
Goodman initially agreed to be interviewed for this story but changed his mind at the last minute. And like a ghost, Walters seemingly can't be touched. Even many of those who have tried to bring him down admit a grudging respect. After David L. Thompson -- then a Nevada deputy attorney general -- unsuccessfully prosecuted Walters on money-laundering charges in the early s, he was forced to resign.
Now, as federal officials decide whether to move forward with the insider-trading case, Thompson offers his own nickname for William T.
Walters repeatedly voices frustration over what he says are draconian laws that drive a massive market of betting dollars to poorly regulated offshore locales. Why don't we keep the bad guys out? Why don't we generate some jobs? One of the few times he got close -- in a fawning 60 Minutes profile in -- he spoke only in general terms. He's been more open about his background: He was born to a poor teenage mother in southern Kentucky and raised primarily by his grandmother until she died when Billy was In the early s, he left two failed marriages and a car salesman gig behind in Kentucky and, after a misdemeanor gambling conviction, headed west with a tiny bank account and a heavy drinking habit.
After arriving in Vegas, Walters connected with the people who would help him turn his gambling habit into a career. In , Dr. Ivan Mindlin and Michael Kent had formed the now-legendary Computer Group, which pioneered the use of computer algorithms for sports betting.
Mindlin was the self-indulgent frontman, a surgeon-turned-gambler. The technology was run by Kent, a mathematician who developed nuclear submarine technology. By the early '80s, the Computer Group had burgeoned into the first national network of sports bettors, betting hundreds of thousands a day. The collective's gamblers, handicappers and investors began earning millions. Walters was inexperienced, but Mindlin was impressed with his moxie and recommended his hiring to Kent in Walters was tasked with exploiting the weakest betting lines with bookies, then eventually with moving millions every week in exchange for a cut of the profits.
After a few years, Walters quit drinking for good and morphed into a member of Las Vegas' influential elite, developing golf courses, subdivisions and industrial parks. According to Jack Sheehan, a longtime Vegas pal, Walters fancies himself an across-the-board genius whose business acumen stretches far beyond betting. He prefers being seen as a successful entrepreneur, the friend says, not just a "Las Vegas gambler. But gambling was how he made his name. Or be on a beach with three gals in bikinis.
Billy works as hard today as he did when he was a used-car salesman in Kentucky. Walters' big action is unwelcome in many sportsbooks in Vegas, so he relies on his network of "runners" like Rubalcada, who are tasked with placing bets without giving any hint that they're working for someone else.
Meanwhile, an account that's too successful runs the risk of being shut down. That makes a large network a major advantage -- each runner stays under the limit, but the total amount bet on Walters' behalf often exceeds it many times over. But they can't build out that distribution network. So Rubalcada spent day after day in the dimly lit sportsbook, waiting to hear from a guy nicknamed Wolf, whose urgent messages would arrive shortly before kickoff or tip-off.
Rubalcada would instantly punch in bets on an M Resort tablet linked to his account. But in fact, Rubalcada wasn't even always trying to win, though he didn't know it at the time. Eventually, he grew to understand one of Walters' keys to success: Some of his bets were intentional losers, designed to manipulate the bookmakers' odds. Walters uses the same method on multiple games, often risking millions each weekend. Walters pleads guilty to misdemeanor bookmaking in Kentucky.
Walters and his Computer Group associates are charged two weeks before the five-year statute of limitations is set to expire. Walters and his Computer Group colleagues are acquitted of conspiracy and illegal transmission of wagering information. State agents raid Walters' Sierra Sports Consulting. Walters and three other defendants are later indicted for money laundering. The money-laundering indictments against Walters and his three co-defendants are dismissed by a local judge.
Walters, pro golfer Phil Mickelson and investor Carl Icahn are reported to be under investigation for insider trading. Since the days of the Computer Group, analytically inclined professional gamblers have relied on technology as well as research to produce what is called a delta: the difference between the Vegas line and what the bettors conclude the point spread should be.
The greater the delta, the more money a gambler like Walters will bet. Walters' strategy is simply more sophisticated and uses more people, better information and, of course, more dollars bet in far more places than anyone else's, insiders say. The work starts well in advance of a game. Malinsky, who says he worked for Walters on two occasions as a college football handicapper, says he routinely provided Walters quantified evaluations of teams, broken down by color codes and letter grades.
The vast Walters network also includes a guy on the East Coast known as The Reader, who scans local newspapers, websites, blogs and Twitter for revealing tidbits or injury updates. That information is weighed and plugged into the computer alongside other statistical data -- from field conditions to intricate breakdowns of officiating crews.
Armed with algorithms and probability theories, the objective is to find the mispriced team, then hammer the line to where Walters wants it. He will just absorb the information and then make the final decision. He is the coach calling the plays. Asked about Malinsky's descriptions, Walters says, "He has no clue how my operation runs. Unfortunately, David wasn't successful in what he did, and I discontinued the relationship.
Rubalcada, in his position as a runner, didn't know the details of how any bets came together. Rubalcada says he made his way into Walters' world booking tee times at Royal Links Golf Club, a pricey course Walters owns a few miles off the Strip. Rubalcada says he advanced to a job best described as course hustler, setting up on a par-3 hole with his pitching wedge and offering foursomes the chance to wager on who would make it closest to the pin.
When Walters' gambling operation offered him a job, Rubalcada saw a chance to make huge money. Eventually, he began mimicking some of Walters' betting action with his own funds, relying on an inside source to text whether Walters' bets were real or phony moves. He added to his troubles when he attempted to cover the theft by staging a carjacking, which was captured on hotel video surveillance.
In the fall, his legal woes escalated when he was jailed for violating the terms of his probation, which included random drug testing and prohibitions on alcohol use and gambling. Rubalcada, who drank heavily during two ESPN interviews, remains in jail awaiting a spot at a drug treatment facility.
After Rubalcada was arrested, one of Walters' attorneys visited the county prosecutor's office -- without prodding -- armed with records detailing how the gambling operation was set up legitimately through a limited liability corporation. The move surprised and impressed authorities, as did the fact that a former Vegas detective was overseeing the group's security arm.
They were better set up legally than your average business, let's put it that way. In the sports gambling world, where the house takes a 10 percent cut, bettors need to win Any additional wins represent pure profit -- and when hundreds of thousands of dollars are wagered on a single game, lots of it. Walters gets those extra 2 percentage points and sometimes much more. He has boasted that he has suffered only one losing season in 39 years, and past criminal investigations provide a snapshot of his success.
The raid against the Computer Group revealed that the syndicate won an eye-popping More recently, an unsuccessful money-laundering case in found that Walters was consistently winning as much as 58 percent a week, sources told ESPN. This year, Walters says, he expects to break even.
Another myth about professional gambling is that every big bet is made in Vegas. Placing bets outside Nevada is a legal gray area and, as a result, a subject on which those close to Walters refuse to shed much light. But multiple sources estimate that only a small fraction of Walters' bets are actually placed there.
The remainder, they say, happen either at offshore gambling sites or, to a lesser extent, through a network of bookies, many of whom have had relationships with Walters for decades. Sources say Walters' operation has become more active in offshore sportsbooks, in Europe and in the emerging Asian market. A raid on Walters' office found more than 40 telephones, from which authorities said more than 12, long-distance calls a month were placed to illegal bookmakers in the U.
Walters was indicted three times for money laundering in connection with the investigation, but the charges were dropped before trial. Today, sources say, the headquarters of Walters' international operation is located outside the United States. The last known location was in Panama, according to sources, after earlier offices were based in London, the Bahamas and Tijuana, Mexico. Mastronardo, who says he worked for Walters from to , calls his former boss a genius.
But he also witnessed what he saw as a dark side -- Walters could be cunning and openly malicious, he says. Mastronardo, who has also dabbled as a bookie and worked in the Caribbean as an offshore sportsbook operator, says he and 20 or so underlings moved bets for Walters from Philadelphia before he moved to Las Vegas to work out of Walters' headquarters in exchange for a 25 percent cut of the winnings.
Holding court in his airy fifth-floor beach condo in Boca Raton, Florida, Mastronardo, 59, looks fit and tanned, like he just walked off the golf course. But any day now, he will settle into a federal prison for a nine-month stay, the price for pleading guilty last year to illegal gambling and racketeering charges in connection with his post-Walters operation.
While many former associates fear speaking openly about Walters' business, Mastronardo says he has little to be afraid of. Talking about his past work helps ease some of the pain and embarrassment he's caused his family after more than 15 arrests, he says, adding that he's sought counseling to overcome his shame.
Mastronardo, an All-American wide receiver at Villanova and 10th-round pick of the Philadelphia Eagles in , says he first met Walters in the s while playing in a golf tournament for high-rolling gamblers hosted by Jack Binion, who owned a large casino in Vegas. Nearly two decades later, he says, the connection paid off when Walters asked him to move games. One of Walters' major advantages, Mastronardo says, is his focus on smaller college games, which don't attract much action and thus often aren't researched as deeply by bookmakers.
Billy's art was to keep that game close to 7 and bet as much as you can without the world finding out about it. One memorable night, Mastronardo says, he was at dinner with Walters and his wife when Walters began asking about a basketball game. Now you can bet in foreign markets. Some he bets in the casino. Some he bets offshore. Some he bets in different markets. Mobile technology has been paramount in contributing to the rise in popularity of online sports betting due to that fact that it provides an easy and accessible method of placing sports bets.
Traditionally, sports betting took place inside of bookmakers. Now, due to technological change, sports betting can take place online via smartphones, laptops, and tablets in real time and has altered how individuals can place their bets. Mobile betting allows individuals the capability to bet from almost any location and can also enable individuals to place a range of live bets on different sporting markets.
These bets can be made from numerous locations e. There has been an increasing conversion of sports betting into an online activity and this increase has been mirrored by a rise in in-play betting. In-play sports betting comprises the wagering of money on something within a sporting event once it has started and up to its conclusion e.
Although it varies from sport to sport, live betting odds are essentially extracted from pre-match odds with in the case of soccer the current score, time remaining, and other elements all combined e. In-play betting is largely an online activity. Bet the most profitable online British bookmaker reported that over three-quarters of their sports betting revenue is derived from in-play betting Barber, and that the most popular sport to bet on is football soccer.
As well as increased use of mobile device technology, there has been an escalation in the coverage of live soccer matches and other sporting fixtures from around the world. This has resulted in an expansion in the online betting market and an increase in the opportunities to bet on these in-play markets.
This is set to continue to rise. The English soccer Premier League showed out of of its matches during —, 42 more than — as a result of a new UK broadcast deal. Subsequently, there will be an increase in matches for betting consumers to engage with. This figure is based on the current status of the bet and the statistical likelihood of the bet winning.
This figure can also be higher or lower than the initial stake amount. In recent years, increased attention has been given to researching in-play sports betting. A Gambling Commission prevalence survey reported that individuals who bet in-play were more likely to be categorized as problem gamblers.
The review also noted that different research methods had been used to explore this area. One method is the use of behavioral tracking data provided to researchers by online gambling operators. The review also identified theoretical papers which had discussed the role of the structural characteristics of in-play sports betting. These papers argued that in-play betting had changed traditional sports betting from a discontinuous form of gambling into a more continuous one, and that the increased event frequency of in-play betting would be more likely to have an association with problem gambling than discontinuous i.
It has also been argued that problem gambling is related to the structural characteristics that reinforce and facilitate gambling behaviour once it has started e. Lopez-Gonzalez et al. More recently, Parke and Parke carried out in-depth interviews with 19 online problem gamblers. They noted that online sports betting offered features that allow gamblers to almost immediately re-engage with the sports betting activity. Some of their participants found it a challenge to maintain their self-control and others admitted chasing their losses.
The authors suggested that attention should be directed towards increasing enforced breaks in this type of gambling. Other studies on in-play sports betting have supported the idea that in-play sports betting may possess a number of features that encourage individuals to bet more, and there could be an association between in-play sports betting and a risk of harm from gambling Lopez-Gonzalez et al.
They concluded that in-play betting was associated with impulsivity which occurred under circumstances where there was a high level of emotional involvement i. A few studies have attempted to delineate the relationship between in-play sports betting and increased harm amongst problem gamblers.
Hing et al. Furthermore, technological advancements along with narratives found within sports betting adverts that enhance control could lead to an increase in perceived skill causing bettors to place their wagers more uncontrollably Lopez-Gonzalez et al. One cognitive heuristic related to gambling behavior is the illusion of control Langer, The illusion of control is the inclination for individuals to overestimate the control they have over the outcome of events.
It has been suggested that the illusion of control may be heightened because sports bettors can choose the amount to stake, the number of bets, and the speed in which they place them, which may result in sports bettors overestimating their control over uncountable events Lopez-Gonzalez et al. The availability heuristic refers to the placing of more weight on information that is easier to recall.
Gamblers often utilize heuristics to process information more quickly such as representativeness heuristics. Sports bettors were more likely to use heuristic intuitive and fast processing, rather than analytic processing slow and deliberate. This form of processing was found to result in a lower gambling return on investment. The authors suggested that these heuristic and analytic processes act as mediators in the relationship between previous experience and betting performance.
Consequently, the present study explored the opinions towards in-play sports betting behaviours. Two participants identified as mixed race and one was of non-white ethnicity. The education level ranged from general certificate of secondary education GCSE to bachelor degree level 12 participants had a degree.
Seven participants were married or lived with their partners This inclusion criterion was selected to ensure that participants were able to freely discuss their experiences with in-play sports betting and it aimed to provide rich data. A semi-structured interview schedule was created using a number of open-ended questions which encompassed a set of key areas, previously identified within the literature.
Data were collected between August and December All interviews were recorded using a digital voice recorder, with consent from participants. Demographic information in the form of a questionnaire was collected, including age, sex, occupation, marital status, highest level of education, marital status and city of residence see Table 1.
Interviews were recorded and analysed using NVivo, a qualitative data analysis computer software package. Six stages of thematic analyses were implemented, as outlined by Braun and Clarke These were: 1 familiarization of the data, 2 generating initial codes, 3 searching for themes, 4 reviewing themes, 5 defining and naming themes, and 6 producing the report.
A general inductive approach to thematic analysis was adopted, whereby transcripts were read, re-read and coded line-by-line in order to identify key themes relating to the research aims. The researchers then met regularly to discuss the emergence of major themes. New prompts and areas for investigation were added to the interview schedule as they emerged. Themes were refined and any differences in interpretation were discussed until agreement was reached by the authors.
The results categorize the participant into one of the following groups: non-problem gambler, low-risk gambler, moderate-risk gambler, or problem gambler depending upon the score. The PGSI was used because it was specifically designed for the general population and has been found to be valid in calculating the degrees of problem gambling severity in a non-clinical context Holtgraves, However, the PGSI groupings must be treated with some caution as they cannot be seen to sufficiently explain broader gambling behaviors for the participants.
The research team obtained ethical approval from their university research committee. The participants signed a consent form, in which they were reassured that all their responses were confidential and anonymous and they had the right to withdraw from the study at any time.
Additionally, participants gave their consent to be audio recorded. Based on the analysis, the themes that emerged were categorized under the broad concepts of 1 accessibility of betting via a smartphone, 2 in-play betting motivating factors to participate, 3 in-play vs. Using a smartphone to place sports bets was the primary method of bet placement by everyone in the study sample.
For example:. One participant commented that they preferred to place bets online because it offered a cash-out feature, whereas the high-street bookmaker did not:. Many participants commented on how easy it is to place a bet via a smartphone or tablet, compared to other methods e.
Other participants commented that they bet on a mobile device due because it has the advantage of saving time. As well as gambling apps, there were other apps mentioned that were accessed on smartphones that assisted participants with bet placement. These were Flash Scores a website that allows sports bettors to see live match updates and Odds Checker so sports bettors can compare odds against different online bookmakers.
One participant discussed how using a smartphone allowed him to compare different inducements across gambling sites:. As previously mentioned, the most popular method for placing bets was on a smartphone. Some participants discussed how it was now possible for them to access the gambling apps in any location, at any time, and they did not have to rely on a laptop or computer in order to place a bet.
Therefore, one of the main advantages of betting on a smartphone was the flexibility of location that it allowed. Some participants discussed how they placed bets in multiple locations using their smartphones. Which is probably part of the problem as well because I could literally do it anywhere. The three main sub-themes as to reasons why participants engaged in live in-play betting were that it: 1 increases excitement, 2 makes the game more intense, and 3 allows gamblers to use their betting skill and knowledge.
Betting on a sporting event provided increased interest and excitement while watching it. Many participants commented that they took part in in-play sports betting because it increased their engagement with the game. This is because it made the game more exciting to watch because there was an opportunity for monetary gain. A feeling of excitement has come from placing a bet, and this is amplified if the bet is a winning bet, particularly if he is with friends and they are sharing the experience.
Some participants discussed how in-play betting increased feeling of intensity when watching and betting on a match simultaneously. Sports betting on a match whilst watching it allowed for the game to be more psychologically interesting. Some individuals engaged in in-play sports betting because they believed that they possessed skills which would influence the outcome of their bets, and thus providing them with a level of control.
Many participants commented that they watched the game whilst betting on it, because this allowed them to assess the status of their match before placing a bet. A few participants then discussed how a game developed and what they had observed during the match influenced them to place a bet. And you can make more of an educated guess.
Participants also made comparisons between fixed odds sports betting and in-play sports betting. Some of the participants commented on the dynamic odds being offered by online bookmakers during a game as a motivation for engaging in in-play sports betting. One of the benefits of this was possible monetary gains which were seen as an advantage. Most participants discussed this in relation to football soccer because that was the event that they were betting on. However, one participant discussed this idea in the context of betting on tennis and darts:.
I suppose tennis is a good example of that. The odds change so dramatically. A few participants did view the odds changing as beneficial to their sports betting outcomes and preferred to place bets before the event started. This was because they had more time to think about the bet before they placed it. This was most popular for football soccer accumulators placed on Saturday fixtures.
The following example is of a participant who wanted to take their time before placing the bet:. The timing of when the match was on was also discussed as a reason for placing a pre-match bet as opposed to an in-play sports bet. A few participants reported that in-play sports betting allowed them to continue their betting and allowed them an attempt to recoup their losses or place multiple bets in a game. The analysis showed that participants had different motivations for cashing out, including minimizing losses when the bets were losing, and acquiring more funds to allow the placement of additional bets.
This was dependent upon the cash out value being of what the participants perceived to be an acceptable amount. Some participants chose not to cash out their bets at all. All participants had cashed out a bet at some point in their life. The most popular sport where the cashing out of bets was during football soccer matches. Reasons for this included the length of the sport i. One participant talked about how once the game started and they cashed out, the newly acquired funds allowed them to gain momentum and continue betting to reach an expected target that they originally had in mind.
Another participant discussed the emotions that came into play when deciding whether or not to cash out their bet. The cash out value has to be enough to be deemed worth cashing out by the sports bettor. For example, in the instance that the bet has made a profit on the initial stake.
The performance of the team may influence whether individuals cash out their bet because they feel the team are not performing well and the bet may lose. Other participants would only cash out if they were betting for a profit, or alternatively if they thought that the cash out value was at an amount that was worth taking. A few participants expressed that they had not always made the correct cash out decision and then came to regret it after.
This went both ways with participants either affecting their profits by taking a risk that turned out to be cashing out too early, rather than letting the bet ride or have the bet lose and not cash out. Whilst most participants discussed the advantages of in-play betting on a mobile app, there were some aspects of mobile betting that appeared to encourage problematic gambling behavior. Online sports betting removes the social context where people who have problems with their gambling behavior might experience guilt, self-consciousness, fear of stigma, and friend or family intervention due to repeated losses and high expenditure.
For example, the following participants who had experienced gambling problems discussed how they were more likely to remain in control of their in-play betting expenditure when they were in a social environment:. One participant described how sports betting was initially a social activity that then developed into a more compulsive behavior, associated with secrecy.
Betting on a mobile allowed this individual to hide their gambling whilst in the same room as their partner:. Mobile betting provides a solitary environment and appears to facilitate riskier gambling in these cases compared to in-person betting at a high street bookmaker.
This was reflected in the some of the quotes:. You know, I could do it in the car, out shopping, at work, anywhere like that and no-one would know what I was doing. Well, as much as I can. So, like no-one really knows that I do it anymore. Um, three, it's a personal thing. I want to enjoy it myself. It sounds a bit morbid actually, you know, now that I'm talking about it, but yeah, I do it on my tablet and I do it alone.
In most cases, participants described online sports betting as a gambling activity involving skill, analysis, and engagement with the sporting event. However, one participant described how as their gambling behavior became increasingly problematic, they transitioned into placing bets without much thought of the outcome and without prior analysis, but instead on the type of bet that would get them the highest monetary return:.
But with sports betting, I felt like I could analyze the form and look at the game and get a feel for it and bet according to that, which is what I first started betting on. I was literally just looking at the odds and placing a bet on it.
There is a constant stream of sports betting opportunities available for in-play betting. One participant described how they temporarily banned themselves from gambling online after they began in-play betting on sporting events that they would not ordinarily be interested in:.
Based on the analysis, four broad themes emerged accessibility of betting via a smartphone, in-play betting motivating factors to participate, in-play vs. To date, there has been a small amount of research carried out on in-play sports betting and the findings from the present study will be discussed in relation to these. One theme was ease of access to in-play sports betting using smartphones. Sports bettors now have immediate access to sports betting websites in most locations and situations.
The sports bettors within the present sample had a preference for placing bets on mobile devices, which supports previous research that sports bettors Additionally, the same study found that problem gamblers were more likely to prefer to use a mobile device. Sports bettors in the present study would often bet on the match in order to make the game appear more exciting and intense.
Whilst the findings here concur with previous research, it may be of value to investigate to clarify which features of in-play sports betting add to the excitement and if these are more specifically related to problem gambling.
Lamont, Hing and Vitartas reported that live odds updates during sports events may prompt bettors into placing impulse bets. These impulse bets were more likely to be placed if the odds were perceived as good and related to their favourite team. Some participants believed that it was easier to make money in in-play sports betting as opposed to betting before a match. In a study of individuals, Khazaal et al.
In systematic review carried out on the role of chance and skill in sports bettors and focusing on cognitions in the behaviour , Mercier et al. It was concluded that the experts were more thoughtful, careful, and likely to place safer bets. It is possible that some in-play sports gamblers may experience higher levels of perceived skill in the activity due to cognitive distortions.
It is possible that cognitive distortions could lead to the development and maintenance of a gambling disorder. Cantinotti, Ladouceur and Jacques examined whether the idea of having betting skill was illusion or chance. Compared to bets made by expert sports bettors versus randomly selected wagers, they found that sports bettors demonstrated a higher accuracy for correctly predicting game outcomes compared to chance i.
The researchers concluded that the notion of skill when betting is the result of cognitive distortions. Therefore, the shortening of bets being paid out has reduced delays in receiving rewards from gambling, and allowing the gambler the potential of placing multiple bets per match.
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