We are well aware that sports betting can be an addictive habit. For some it can be extremely profitable and be their main source of income, with some punters labelling themselves as “betting mentors” and turning that into a business model. Whereas others are not so fortunate and don’t manage to see the winning side.
We want to analyse the consumer habits and see what it is that makes customers keep going back and how they like to place their bets. We will be looking at different sources and data to see what the experts have found to be the main courses.
The Nine Themes
Reports have suggested that there are a total of 9 different similarities that bettors have. These themes reflect their motivations and why they enjoy betting so much. Below, we have listed the different themes.
Theme One: Consumers like to place sporting bets because they have been encouraged by friends and family to do so. They may be influenced by people around them who are also placing bets and then decide to do so themselves.
Theme Two: Many players want to convince themselves and others that they are good at beating the bookies. It sounds like an easy way to make some money, when you have a range of football selections or horse racing selections like these to choose from. They are chasing the sense of achievement.
Theme Three: It can be used as a way of socialising with others. If people are in a brick and mortar betting shop, they can communicate and socialise with other punters in there. Or, if they are on a betting app, there are typically live chat rooms where people can communicate with one another.
Theme Four: People see sports betting as not requiring much effort and being such a simple way to earn some money, as opposed to working extra hours or finding a new job. A bet can be placed in seconds and you don’t need to do any research to place the bet, in this instance all you need is a bit of luck.
Theme Five: Placing bets attracts more interests on the selected fixtures. For example, placing bets on football matches encourages the person to watch the game and gives them a bit more entertainment, as opposed to just watching without any potential gain.
Theme Six: The feeling of intensity and pressure is what some people chase, therefore to feel it often, placing bets is convenient. Once a bet is placed, there’s a chance you will win and a chance you will lose. Players often describe this adrenaline rush as addictive and something they keep wanting to chase.
Theme Seven: Some say that it is part of the culture where they are from. Many people their age/ gender are participating in sports betting and to not be doing it is to be seen as the odd one out in a way. Therefore, despite whether they know what they are doing or not, some punters do it sheerly because they feel it’s what’s expected.
Theme Eight: Some people feel they need to bet, there is no two ways about it. They’ve been betting for a while and the urge to do it can get too much sometimes and they don’t see any real harm in it for them either. There is a lot of acceptance amongst players that there is a chance you will lose and to not wager more than you can afford to lose, which works for them.
Theme Nine: Betting promotions are always in the face of customers and they can be too good to turn down. Often, new customers and existing customers will be targeted with new freebet or deposit bonuses from bookies that almost allow them to claim free money. Customers simply take the free bet amount and wager it on an outcome they think is incredibly likely, so they can then withdraw their winnings.