New study reveals 63% of gamblers increase their bets after winning

A recent survey found that most gamblers increase their bets after a win rather than cashing out. Experts have been concerned about this type of behavior for years; in fact, research shows that wins tend to lead to an increase in risk taking behaviors.

The study also revealed that 63% of those polled stated that they increased their bet size right after a win. This behavior was prevalent across all types of gamblers including sports bettors and slot players, but most predominantly occurred among sports bettors and slot players.

Key survey findings

• A total of 63% of respondents stated that they increased the amount of money that they would be betting on a game following a win.
• 41% of respondents claimed that they stayed at a gaming establishment for longer than initially intended after experiencing multiple wins in row.
• 28% of those surveyed indicated that they attempted to wager larger amounts of money in hopes of recovering losses that occurred while attempting to recoup previous winnings.
• Males were slightly more likely to increase their wagers following a win compared to females; however, males only increased their wagers approximately 9% more often than did females.
• The age group that was most prone to increasing the amount of money that they would be wagering on a game following a win was comprised of individuals who were aged 18-34 years old.

In an attempt to explain why many people exhibit this type of behavior, researchers have referenced a concept within the field of behavioral economics referred to as the “house money effect.” This is a phenomenon wherein an individual will perceive their winnings as being separate from their original bankroll and therefore feels less concerned regarding losing the funds. When a player has been successful during their time gambling at a casino or online sportsbook, it creates an environment where that player becomes more aggressive with respect to betting because he/she is feeling like they are utilizing “free money.” As a result, the player’s perception of their level of risk remains low despite no actual changes having taken place with regard to the likelihood of a player achieving future success.

“An individual who believes they are likely to win has significantly reduced emotional/psychological risk when betting more of their money,” according to a expert from Sweepspulse.com. “Understanding what drives your betting habits along with understanding how your favorite games work is key.”

Statistically significant differences existed in participants’ gambling behaviors based on the type of game. Participants who were playing slots increased their bets at a higher rate per unit increase in winnings than did poker participants. It may also be possible that this disparity exists because poker is a skill-based game, whereas slot machines are strictly chance based. In addition, the ability to rapidly increase wagers at slots is very easy; it only takes a simple press of a single button to double or triple wagers. Conversely, increasing wagers at poker is much more laborious.

Data collected from this study emphasizes the significance of establishing limitations before engaging in a game rather than waiting until after the game has been engaged. The optimal time to determine your stop-loss limit is before starting your game, not after you’ve experienced a positive outcome. A positive outcome can give the illusion that your strategy was successful, however, it may merely have resulted from the natural variation inherent within all games.

The survey comes at a time when sweepstakes casinos and social gaming platforms are continuing to grow in popularity across the United States as an alternative method of experiencing casino-style games without taking on the financial risks associated with traditional real-money online casinos. The dual currency format of many sweepstakes casinos (GC and SC) may be a feature that promotes better decision making with regards to gambling habits than single currency sites for those who use it.

Sweepspulse.com is continuing to study the behavior of players at sweepstakes casinos through continued research. Further studies will also look at how design elements on the platform affect a player’s decisions during their session such as what features are being used by the player, the length of time spent in playing, and more.

Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.rgf.org.mt/.