Social and Behavioral Sciences Commons^™

Iq And Gambling Consumption: An Analysis Of Horse Race Betting Participation And Expenditure Using Individual-Level Data, Niko Suhonen, Tuomo Kainulainen, Jani Saastamoinen, David Forrest Prof.

International Conference on Gambling & Risk Taking

Abstract

Recent literature suggests that intelligence is positively associated with economic outcomes involving risky decisions such as investment portfolio returns (Grinblatt et al. 2012). Gambling is a form of entertainment in which consumers buy risky products with negative expected values. However, the relationship between intelligence and gambling consumption is not understood yet. We use a unique individual-level data set from Finland to investigate how intelligence predicts gambling participation and expenditure. Our data consists of betting data from a monopoly horse race betting operator (betting participation and expenditure on betting), background information on the Finnish adult population from Statistics Finland (e.g. …