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The Unpredictable Positive Effects Of Sports Gambling: Gamblers Think Losing Feels Worse Than It Actually Feels, Guy Voichek, Nathan Novemsky

International Conference on Gambling & Risk Taking

Implications statement

Gamblers underestimate how much fun small wagers add to enjoying sports events. They think losing will feel worse than it really does. Simple reminder can correct this misprediction.

Abstract

When considering whether to gamble on a sporting event, people may ask themselves how winning or losing will affect their experience. In a series of four experiments, we find that people under-appreciate the positive effect of gambling on watching sporting events, in a way that causes them to under-value the opportunity to place a small stakes gamble. While participants predict that a gamble will enhance or diminish an experience …

Analyzing The Efficiency Of Response To News Regarding Legalization Of Sports Wagering, Kevin Krieger, Justin L. Davis

International Conference on Gambling & Risk Taking

A landmark decision (Murphy v. NCAA) by the Supreme Court of the United States (SCOTUS) in 2018 ruled the federal government could not prohibit states from allowing sports wagering. While the implications of this decision are far reaching at both an industry and societal level, our study assesses the market response to information available throughout the various phases leading up to this decision by SCOTUS. The timeline of events preceding the SCOTUS decision is tracked, and stock performances of relevant, publicly traded firms are analyzed across three inflection points. Findings suggest the market failed to adequately acknowledge key …