Remote control: ‘Cashing out’ in sports betting

“Cash Out lets you take profit early if your bet is coming in, or get some of your stake back if your bet is going against you – all before the event you’re betting on is over. Cash Out offers are made in real time on your current bets, based on live market prices. Whenever you are ready to Cash Out, simply hit the yellow button. Cash out is available on singles and multiples, on a wide range of sports, including football, tennis, horse racing, and many more! You can Cash Out of bets pre-play, in-play, and between legs” (Definition of ‘cash out’ betting on Betfair website, 2017).

Most European sports betting operators now feature ‘cash out’ functionalities in their online platforms. This means that bettors can withdraw their bets before the event bet upon has concluded, obtaining a smaller but guaranteed return if the outcome of the bet is going their way, or, conversely, cutting down the monetary impact of a foreseeable loss. The ‘cash out’ functionality has rapidly become popular among sports bettors that bet in-play (i.e., during the game on things such as soccer matches and horse races) as a way of maximising value on the bets they have made.

Industry voices such as David O’Reilly, from Colossus Bets, have identified four major benefits of cash out features for bookmakers: (i) reducing the volatility of the operator’s revenue; (ii) increasing the recycling of player returns, with more players banking smaller amounts; (iii) enabling players to avoid their ‘near miss’ frustration; and (iv) improving the player engagement with the platform by introducing a mechanism that promotes constant checking. However, for sports bettors, cashing out strategies might typically involve cutting down the profit while being ahead but rarely reducing the loss when going behind. In this regard, cashing out does not appear to differ greatly from other new internet-based betting forms (e.g. so-called ‘exotic’ or multiple bets), which have been found to possess, in general, higher expected losses for gamblers and greater profit margins for operators.

However, beyond the feature’s financial rationale, cash out affects the nature of sports betting in more meaningful ways. It is, arguably, a game-changer, that leads (along with other features such as ‘edit my acca’ features in which specific bets can be removed from ‘accumulator’ bets) to the transformation of sports betting from a discontinuous to a continuous form of gambling. Here, our contention is that cash out is a key component of the contemporary bettor-bookmaker interaction, and that the widespread adoption by devoted sports bettors merits a closer look into the implications of such an interaction from a problem gambling perspective. Such an examination also suggests that regulators and policymakers need to think about how to protect gambling consumers from the potential harm caused by this new type of betting.

Structural characteristics have been proposed as a determining factor that can influence problem gambling behaviour. Structural characteristics are those associated with the design of a gambling product that shape the way gamblers interact with it. Typical structural characteristics include, but are not limited to, bet frequency, bet duration, event frequency, near misses, stake size, jackpot size, probability of winning, and interface design (e.g., the use of music and colour stimuli in the design of slot machines).

The internet has altered significantly the structural characteristics of gambling and sports betting more specifically. For example, in a number of European countries, the football (soccer) pools used to comprise bets placed during a weekday on the outcome of a game played typically on a Saturday or Sunday (i.e., a once a week wager). This reward delay was a major protective factor against excessive gambling, which on a psychobiological level has been theorised as an imbalance in an individual’s dopamine receptors, and therefore, highly sensitive to shorter bet reward periods. Betting via the internet has reduced such delays in receiving rewards from gambling, thus modifying a major structural characteristic of betting from once a week to (in some instances) every few minutes.

In parallel to the increased uptake of Internet betting in many jurisdictions, a second dynamic, namely globalisation, has further widened the possibilities of betting across countries, sports, and time zones, ultimately transforming sports betting into a 24/7 activity where the bookmaker never closes the shop any day during the year. For the first time, if a gambler has a craving to bet, the market is able to respond to that demand anytime and anywhere via a range of Wi-Fi enabled portable devices (e.g., smartphone, tablets, laptops, etc.). Virtual sports have expanded the availability of betting options even more, eliminating the need to bet on real world sport events.

Although the time between bets (i.e., bet frequency) was effectively reduced to near zero, the time within bets (i.e., bet duration) changed little until cash out functionality was first introduced by the gaming operator William Hill in December 2012. With cash out features, sports betting has become a potentially continuous gambling activity, one that resembles the playing mechanics the stock market. As with investing in stocks, bet values in in-play sports betting are re-calculated seamlessly. The outcome of a sport event might not be as relevant for many bettors as the value their bet will acquire in the next few seconds, even if that bet turns out to be erroneous at the end of the game. As in stock market investing, betting becomes continuous because non-actions also qualify as actions in themselves. Every single second that a bettor decides not to cash out, a new bet takes place. Eventually, cash out features introduce the notion that it is the bet itself the commodity that is being traded in the sports betting market. This new continuous type of sports betting raises questions concerning the gambling-related harm that could be associated with it. It also suggests that the kinds of regulation found widely in the stock market investment sector might have some utility if applied to this new form of gambling.

From a marketing perspective, cash out functionality is often advertised as a control-enhancing mechanism for bettors. Given that cashing out is typically presented in television advertisements as a risk-free operation, the product is likely to be perceived as reimbursable if the client is not happy with it, arguably promoting less planned gambling behaviours. Some gaming operators use the alternative name of “edit my bet” to refer to cash out, focusing on the capacity of bettors to correct later possible errors of judgement. The problem is that (and as happens in stock market investing), cashing out is only possible at the current value of the stock (which may be inferior to the purchasing price). Additionally, and contrary to what happens in stock market investing, betting operators automatically devalue the bet price immediately after the purchase. For example, a bookmaker will typically offer to cash out for $0.95 or similar a $1 bet placed one second ago, a price devaluation unmotivated by any new information or event actually affecting the predicted value of such a bet.

Beyond its most apparent attributes, we have demonstrated that cash out within in-play gambling is a pivotal feature that has been introduced by the sports betting industry to transform sports betting from what was traditionally a discontinuous form of gambling into a continuous one. It is contended that, although cashing out presupposes more engaged gamblers that feel more in control of their bets, the emotionally charged context in which it is often used and the structural attributes of the product itself might actually make some bettors lose control over their gambling wagers. Consequently, gambling policymakers and regulators should be cognizant of the challenges of this transformation of sports betting and consider the implications for the protection of gambling consumers.

[Note: This article was co-written with Dr. Hibai Lopez-Gonzalez]

Dr. Mark Griffiths, Professor of Behavioural Addiction, International Gaming Research Unit, Nottingham Trent University, Nottingham, UK

Further reading

Betfair (2017). Sportsbook: What is cash out and how does it work? Retrieved March 1, 2017, from: https://en-betfair.custhelp.com/app/answers/detail/a_id/4/~/sportsbook%3A-what-is-cash-out-and-how-does-it-work%3F

Gainsbury, S. M. (2015). Online gambling addiction: The relationship between internet gambling and disordered gambling. Current Addiction Reports, 2(2), 185-193.

Griffiths, M.D. (1993). Fruit machine gambling: The importance of structural characteristics. Journal of Gambling Studies, 9, 101-120.

Griffiths, M. D. (2005). A biopsychosocial approach to addiction. Psyke & Logos, 26(1), 9–26.

Griffiths, M.D. & Auer, M. (2013). The irrelevancy of game-type in the acquisition, development and maintenance of problem gambling. Frontiers in Psychology, 3, 621. doi: 10.3389/fpsyg.2012.00621.

Lopez-Gonzalez, H., & Griffiths, M. D. (2016). Understanding the convergence of online sports betting markets. International Review for the Sociology of Sport. http://doi.org/doi:10.1177/1012690216680602

Lopez-Gonzalez, H. & Griffiths, M.D. (2017). ‘Cashing out’ in sports betting: Implications for problem gambling and regulation. Gaming Law Review: Economics, Regulation, Compliance and Policy, 21(4), 323-326.

McCormack, A., & Griffiths, M. D. (2013). A scoping study of the structural and situational characteristics of internet gambling. International Journal of Cyber Behavior, Psychology and Learning, 3(1), 29–49.

Newall, P. W. S. (2015). How bookies make your money. Judgment and Decision Making, 10(3), 225–231.

Newall, P. W. S. (2017). Behavioral complexity of British gambling advertising. Addiction Research & Theory. http://doi.org/10.1080/16066359.2017.1287901

Parke, J., & Griffiths, M. D. (2007). The role of structural characteristics in gambling. In G. Smith, D. Hodgins, & R. Williams (Eds.), Research and Measurement Issues in Gambling Studies (pp. 211–243). New York: Elsevier.

Sports Trading Life. (2015). Is “cash out” actually BAD for betting punters? Retrieved March 1, 2017, from http://sportstradinglife.com/2015/03/is-cash-out-actually-bad-for-punters/

Game on: A brief look at gambling on eSports

Like daily fantasy sports, betting on eSports (i.e., professional video gaming) has increased in popularity over the last few years and has given rise to allegations of unregulated and underage gambling. The eSports market is large. According to a 2016 report by Superdata, professional eSports is growing exponentially and is worth an estimated $612 (US) million a year. Furthermore, Eilers and Krejcik Gaming estimate that real money betting on eSports betting will reach $10 billion (US) by 2020. The professionalization and sportification of this entertainment form has brought sports-world elements to it: stadium-like facilities, cheering stands, sponsors, big rewards, and competition. Instant replays, jumbotrons (i.e., super-huge television screens), and referees add to the sport dramatisation. In some notorious cases, prizes have gone beyond the $10 million [US] threshold in a packed arena housing 73,000 fans. According to by John McMullan and Delthia Miller in a 2008 issue of the Journal of Gambling Issues, sportification is the process of incorporating the logics of sport to non-sporting contexts (e.g., poker, eSports. This can materialise in many ways but most commonly occurs when (i) other industries capitalise on the positive attributes of sport (e.g., popularity, engagement, or sanity and health inferences); and (ii) non-sport fields try to increase the entertainment and playability of their products and their association with joy and excitement.

Twitch, an online platform that streams live video gaming, informs its’ advertisers that it has 100 million monthly viewers, who watch for an average of 106 minutes a day. Betting on eSports presents new challenges. As a news report in Bloomberg news observed in relation to betting on the game Counterstrike: Global Offensive (CSGO):

“Gambling – licensed, regulated, and by adults – is generally accepted in eSports. There is growing concern, though, that teenagers are being attracted to different forms of betting facilitated by third-party providers. One such platform is CSGO Lounge (an independent site not affiliated with Valve Software, which develops the game itself). The site allows spectators to bet in-game add-ons known as skins – weapons, tools and the like – on the results of matches. Not all skins are created equal, and the rarity of some means they can cost hundreds of real dollars on marketplace sites like SkinXchange.com. The temptation is too much for some”.

Put simply, skin gambling is the use of virtual goods and items (typically cosmetic elements that have no direct influence on gameplay) as virtual currency to bet on the outcome of professional matches. The Bloomberg article also claims on the basis of interviews with industry insiders that underage skin gambling is a “huge problem”. Justin Carlson (lead developer of SkinXchange) claims there are “countless” parents whose children have used their credit cards without their knowledge to buy skins and bet on gaming on other sites. Although anecdotal, Carlson claims that some minors have “racked up hundreds or thousands of dollars in skins on ‘SkinXchange’ just to lose them all on some betting or jackpot site”. It’s clear that people trading skins in eSports has grown over the last few years and various regulators around the world – such as the UK Gambling Commission (UKGC) – are considering regulation and says it is an “emerging product” and an “area for continuing future focus”. More specifically, the UKGC’s 2016 Annual Report notes:

 “The growing market in esports and computer gaming has scope to present issues for regulation and player protection – issues which are being examined by gambling regulators in other international markets…These issues range from the emergence of real money esports betting markets, to trading in-game items which blur the lines between gambling and social gaming. Our focus will be to understand developments, including engaging with key stakeholders, and we will work wherever we can to ensure the risks associated with these, particularly to children and young people, are minimised”.

One of the complicating factors for eSports gambling is that while cash is the currency for many gamblers, there is a growing trend towards the use of virtual currencies, or ‘in-game items’ which, according to the UKGC, can be “won, traded, sold or used as virtual currency to gamble with and converted into money or money’s worth”. These, according to the UKGC, “include digital commodities (such as ‘skins’) which can be won or purchased within the confines of computer games and can then be used as a form of virtual currency on a growing number of gambling websites”. No academic research has examined underage skin gambling but this is an issue that is unlikely to diminish over the coming years.

It is also worth noting that this massive interest in eSports followed by a massive audience has led most major betting operators to include eSports in their daily gambling offer. However, the singularities of eSports market pose new challenges that conventional online betting sites struggle to address. Suraj Gosai, co-founder of Blinkpool, an eSports dedicated betting platform, laid out two main problems: in-play betting limitations and odds algorithmic programming. For in-play betting to be viable, companies need to get access to reliable, instantaneous, and unambiguous data that can settle bets and separate winners from losers. Data companies like Perform do that in sport, and betting operators rely on their data to offer in-play action to gamblers. The problem in eSports is that actions are not as quantified and standardised as in real-life sports. To counteract that, Blinkpool created a computer vision technology that extracts data from real-time action and promotes hyper-contextual opportunities, that is, 10- to 45-second in-play betting mini-markets concerning very specific developments in the narrative of the games.

Odds programming in sports betting is fundamentally based on historical data from hundreds of thousands of games, from which each factor (home advantage, table position, head-to-head, etc.) is weighted in to determine the probability of an event occurring. In the fixed-odds betting market, the bookmaker makes available to bettors that probability plus a benefit margin. When placing a bet, an individual bets against the probability that the house has predicted. This is not yet feasible in eSports because the historical data are scarce and the modelling is complex. Companies are circumventing this problem by offering exchange betting rather than fixed-odds. This method comprises peer betting, that is, bettors do not bet against the house but between one another. This way, the house gets a commission from winning bets and operates a much less risky business.

Dr. Mark Griffiths, Professor of Behavioural Addictions, International Gaming Research Unit, Nottingham Trent University, Nottingham, UK

Further reading

Bracken, G. (2016). We hope to be the home of eSports betting. Gambling Insider. Available from: https://www.gamblinginsider.com/in-depth/1909/we-hope-to-be-the-home-of-esports-betting

Gambling Commission (2015). Explaining our approach to social gaming. Located at: http://www.gamblingcommission.gov.uk/Gambling-data-analysis/Social-media/Explaining-our-approach-to-social-gaming.aspx

Gambling Commission (2016). Annual Report 2015/16. Birmingham: Gambling Commission.

McMullan, J. L., & Miller, D. (2008). All in! The commercial advertising of offshore gambling on television. Journal of Gambling Issues, 22, 230-251.

Melbourne, K. & Campbell, M. (2015). Professional gaming may have an underage gambling problem. Bloomberg, September 7. Available at: http://www.bloomberg.com/news/articles/2015-09-07/professional-video-gaming-has-an-underage-gambling-problem

Superdata (2016). eSports Market Report. Available at: https://www.superdataresearch.com/market-data/esports-market-brief/

Wingfield, N. (2014) In e-Sports, video gamers draw real crowds and big money. New York Times, August 30. Available from: http://www.nytimes.com/2014/08/31/technology/esports-explosion-brings-opportunity-riches-for-video-gamers.html?_r=0

Wood, J. (2016). UK Gambling Commission: We’ll work to minimize risks from emerging esports betting markets. Esports Betting Report, July 19. Available at: http://www.esportsbettingreport.com/uk-regulators-address-esports-betting/

Against all odds: The rise and rise of gambling

In many areas of the world, gambling has become a popular activity. Almost all national surveys into gambling have concluded that most people have gambled at some point in their lives, there are more gamblers than non-gamblers, but that most participants gamble infrequently. Commissions and official government reviews in a number of countries including the United States, United Kingdom, Australia and New Zealand have all concluded that increased gambling availability has led to an increase in problem gambling. Estimates of the number of problem gamblers vary from country to country but most countries that have carried out national prevalence surveys suggest around 0.5%-2% of individuals have a gambling problem.

In May 2013, the new criteria for problem gambling (now called ‘Gambling Disorder’) were published in the fifth edition of the American Psychiatric Association’s Diagnostic and Statistical Manual for Mental Disorders (DSM-5), and for the very first time, problem gambling was included in the section ‘Substance-related and Addiction Disorders’ (rather than in the section on impulse control disorders). Also included in the Appendix of the DSM-5 as a potential addiction was Internet Gaming Disorder (i.e., online video game addiction). Although most of us in the field had been conceptualizing problematic gambling and video gaming as addictions for many years, this was arguably the first time that an established medical body had described them as such. For me, gambling and gaming addictions should not be considered any differently from other more traditional chemical addictions (e.g., alcohol addiction, nicotine addiction). Consequently, there is no theoretical reason why other problematic and excessive activities that do not involve the ingestion of a psychoactive substance cannot be deemed as legitimate behavioural addictions in the years to come (e.g., shopping addiction, sex addiction, work addiction, exercise addiction, etc.).

Gambling is a multifaceted rather than unitary phenomenon. Consequently, many factors are involved in the acquisition, development and maintenance of gambling behaviour. Such factors include an individual’s biological and genetic predisposition, their social environment, psychological variables (personality characteristics, attitudes, expectations, beliefs, etc.), macro-situational characteristics (how much gambling is marketed and advertised, the number of gambling venues within a jurisdiction, where the gambling venue is located), micro-situational characteristics of the gambling environment (on-site cash machine, provision of free alcohol, floor layout etc.), and the structural characteristics of the gambling activity itself (jackpot size, stake size, the number of times a individual can gamble in a given time frame, etc.). Most research has tended to concentrate on individual characteristics (personality, genetics, family and peer influence) rather than situational and structural characteristics.

The introduction of national lotteries, the proliferation of slot machines, the expansion of casinos, and the introduction of new media in which to gamble (e.g., Internet gambling, mobile phone gambling, interactive television gambling, gambling via social networking sites), has greatly increased the accessibility and popularity of gambling worldwide, and as a result, the number of people seeking assistance for gambling-related problems. In addition, the rise of remote gambling via the internet and mobile phones has arguably changed the psychosocial nature of gambling. I have also published a number of studies showing that to vulnerable and susceptible individuals (e.g., problem gamblers, minors, the intoxicated, etc.), the medium of the internet may facilitate and fuel problematic and addictive behaviours.

There are many known factors that make online activity potentially problematic to a minority of individuals. This includes factors such as easy accessibility, affordability, anonymity, convenience, escape, and disinhibition. Some of these factors can change the psychological experience of gambling. For instance, gambling with virtual representations of money online lower the psychological value of the money and people tend to spend more with virtual representations of money than if they were gambling with physical money. Also, when people lose money online it is a different psychological experience because no-one can see anyone losing face-to-face. As a result, there is less guilt and embarrassment about losing and vulnerable individuals may be tempted to spend more time and money than they had originally intended.

One very salient trend that has implications for gambling (and arguably problem gambling) is that technology hardware is becoming increasingly convergent (e.g., internet access via smartphones and interactive television) and there is increasing multi-media integration such as gambling and video gaming via social networking sites. As a consequence, people of all ages are spending more time interacting with technology in the form of internet use, playing videogames, watching interactive television, mobile phone use, social networking, etc. In addition to convergent hardware, there is also convergent content. This includes some forms of gambling including video game elements, video games including gambling elements, online penny auctions that have gambling elements, and television programming with gambling-like elements.

One of the key drivers behind the increased numbers of people gambling online and using social networking sites is the rise of mobile gambling and gaming. Compared to internet gambling, mobile gambling is still a relatively untapped area but the functional capabilities of mobile phones and other mobile devices are improving all the time. There are now hundreds of gambling companies that provide casino-style games to be downloaded onto the gambler’s smartphone or mobile device (e.g., tablet or laptop). This will have implications for the psychosocial impact of gambling and will need monitoring. Like online gambling, mobile gaming has the capacity to completely change the way people think about gambling and betting. Mobile phones provide the convenience of making bets or gambling from wherever the person is, even if they are on the move.

One of the most noticeable changes in gambling over the last few years – and inextricably linked to the rise of mobile gaming – has been the large increase of in-play sports betting. Gamblers can now typically bet on over 60 ‘in-play’ markets while watching a sports event (such as a soccer match). For instance, during a soccer game, gamblers can bet on who is going to score the first goal, what the score will be after 30 minutes of play, how many yellow cards will be given during them game and/or in what minute of the second half will the first free kick be awarded. Live betting is going to become a critical activity in the success of the future online and mobile gambling markets.

The most salient implication of ‘in-play’ sports betting is that it has taken what was traditionally a discontinuous form of gambling – where an individual makes one bet every Saturday on the result of the game – to one where an individual can gamble again and again and again. Gaming operators have quickly capitalized on the increasing amount of televised sport. In contemporary society, where there is a live sporting event, there will always be a betting consumer. ‘In-play’ betting companies have both catered for the natural betting demand but introduced new gamblers in the process. If the reward for gambling only happens once or twice a week, it is completely impossible to develop problems and/or become addicted. ‘In-play’ has changed that because there are soccer matches on almost every day of the week making a daily two-hour plus period of betting seven days a week.

New technologies in the form of behavioural tracking have helped online gambling companies keep track of players by noting (among many other things) what games they are playing, the time spent playing, the denomination of the gambles made, and their wins and losses. Although such technologies can potentially be used to exploit gamblers (e.g., targeting the heaviest spenders with direct marketing promotions to gamble even more), such technologies can also be used to help gamblers that may have difficulties stopping and/or limiting their gambling behaviour. Over the past few years, innovative social responsibility tools that track player behaviour with the aim of preventing problem gambling have been developed. These new tools are providing insights about problematic gambling behaviour. A number of European jurisdictions (such as Germany and The Netherlands) are now considering whether such tools should be mandatory for gaming operators to use especially as such tools are already being used in Sweden, Norway, Finland and Austria.

Although gamblers are ultimately responsible for their own behaviour, gambling can be minimised via both governmental policy initiatives (age restrictions, marketing and advertising restrictions, no gaming licenses unless operators display the highest standards of social responsibility to their clientele, etc.) and gaming operator initiatives (self-exclusion programs, information about games so gamblers can make informed choices, limit-setting tools that allow gamblers to set time and money loss limits, staff training on responsible gambling, referral to gambling treatment providers, etc.). Problem gambling can never be totally eliminated but harm minimisation practices can be put in place to keep the problem to a minimum. Treatment for gambling addiction should be free and paid for by gambling industry profits (either in the form of voluntary donations to a charitable trust or – if that doesn’t work – a statutory levy). In short, any jurisdiction that has legalised and liberalised gambling has a duty of care to put a national social responsibility infrastructure in place to prevent, minimise, and treat problem gambling as they would with any other consumptive and potentially addictive behaviour (e.g., drinking alcohol, smoking cigarettes, etc.)

Please note: A version of this article first appeared in Science and Technology (Pan European Networks) magazine (Volume 15, pages 153-155).

Dr. Mark Griffiths, Professor of Gambling Studies, International Gaming Research Unit, Nottingham Trent University, Nottingham, UK

Further reading

Griffiths, M.D. (2003). Internet gambling: Issues, concerns and recommendations. CyberPsychology and Behavior, 6, 557-568.

Griffiths, M.D. (2005). A ‘components’ model of addiction within a biopsychosocial framework. Journal of Substance Use, 10, 191-197.

Griffiths, M.D. (2011). Gaming convergence: Further legal issues and psychosocial impact. Gaming Law Review and Economics, 14, 461-464.

Griffiths, M.D. (2012). Mind games (A brief psychosocial overview of in-play betting). i-Gaming Business Affiliate, June/July, 44.

Griffiths, M.D. (2012). Internet gambling, player protection and social responsibility. In R. Williams, R. Wood & J. Parke (Ed.), Routledge Handbook of Internet Gambling (pp.227-249). London: Routledge.

Griffiths, M.D., King, D.L. & Delfabbro, P.H. (2014). The technological convergence of gambling and gaming practices. In Richard, D.C.S., Blaszczynski, A. & Nower, L. (Eds.). The Wiley-Blackwell Handbook of Disordered Gambling (pp. 327-346). Chichester: Wiley.

Griffiths, M.D. & Parke, J. (2003). The environmental psychology of gambling. In G. Reith (Ed.), Gambling: Who wins? Who Loses? (pp. 277-292). New York: Prometheus Books.

Kuss, D.J. & Griffiths, M.D. (2012).  Internet gambling behavior. In Z. Yan (Ed.), Encyclopedia of Cyber Behavior (pp.735-753). Pennsylvania: IGI Global.

McCormack, A. & Griffiths, M.D. (2013). A scoping study of the structural and situational characteristics of internet gambling. International Journal of Cyber Behavior, Psychology and Learning, 3(1), 29-49.

Meyer, G., Hayer, T. & Griffiths, M.D. (2009). Problem Gaming in Europe: Challenges, Prevention, and Interventions. New York: Springer.

Parke, J. & Griffiths, M.D. (2007). The role of structural characteristics in gambling. In G. Smith, D. Hodgins & R. Williams (Eds.), Research and Measurement Issues in Gambling Studies (pp.211-243). New York: Elsevier.

Pontes, H. & Griffiths, M.D. (2014). The assessment of internet gaming disorder in clinical research. Clinical Research and Regulatory Affairs, 31(2-4), 35-48.

Zangeneh, M., Griffiths, M.D. & Parke, J. (2008). The marketing of gambling. In Zangeneh, M., Blaszczynski, A., and Turner, N. (Eds.), In The Pursuit Of Winning (pp. 135-153). New York: Springer.

Bet, bet, bet: How to gamble responsibly during the football World Cup

With the football World Cup kicking off later today, I thought I would use my blog to give my readers some advice on gambling responsibly over the next month. As much as I want England to win, the humid conditions will be a major disadvantage. Yesterday I published an article on why I think Brazil will win (which you can read here). Given my academic background it may come as little surprise that when I gamble, I expect to lose in the long run. However, that is not to say that I don’t have my ‘Top 10 Golden Rules’ that I apply in gambling situations. Some might say my rules are about the psychology of winning but I would prefer to describe them as the psychology of minimizing losses! In some situations, there is a very fine line between psychology and common sense and this is one of those occasions. So here goes.

(1) Never gamble without some kind of pre-set plan and amount that you are prepared and/or can afford to lose. Winning gamblers set themselves win/loss goals before they enter a betting shop or use an online betting exchange. Planning and goals are the catalyst to life success and gambling on the World Cup should be no different. Don’t use any winnings as a reason to place even more bets and never – under no circumstances – chase your losses.

(2) Don’t let the excitement – or the lack of it – of a football match detract from the pre-set plan you started with. If you are watching a World Cup game and your only wager is on who will win or lose, then don’t get carried away with the excitement of the game. When the game itself is dull, don’t get side tracked by gambling on spontaneous ‘in-play’ side bets during the game to increase the excitement. If you do like a little in-play action, give yourself the option of (say) five in-play bets (or whatever you can afford to lose) and stick to it no matter what.

(3) Remember that the excitement of gambling itself can lead to irrational thought processes. Psychological research has consistently shown that when gamblers are in the thick of their gambling ‘action’, they tend to be more irrational in how they think and make decisions. Irrationality leads to poor decision-making and pre-set plans and budgets often go out of the window. Just like alcohol, gambling can make the betting punter do things that they would never have done in the cold light of day.

(4) Do your research when using promotions. As a general rule, betting promotions are the highest money earners for the gambling establishment’s marketing department. They are designed to get you to gamble or to get you gambling in the first place or on something new. Avoid gambling with offers that seem too good to be true (because they usually are). Stick with your pre-set plan and budget and you’ll be fine. If through your research you find a good promotion that suits your betting needs, then by all means use it. Just don’t use promotions impulsively or use the first promotion that you see.

(5) Learn to think for yourself. General advice (like that contained in this article) is one thing. Winners learn to sort things out for themselves and not rely on others. They are comfortable with how they approach their betting. You should also disregard rumours. Gambling can often invoke certain urban myths, such as “your first bet after opening an Internet gambling account is always a winning one’.” Banking on such speculation while betting is a recipe for disaster.

(6) Do your own ‘research’. As with any other product that involves the exchange of money, making bets on World Cup football requires that you do the research to establish the best deals around. This is especially useful on Internet gambling sites and betting exchanges via mobile phones and tablets but can be applied to offline gambling too. Only factual information should inform your decision-making when betting.

(7) Gamble with your head and not with your heart. When it comes to gambling on the football team I support (in my case, England) I try to employ strategies that leave me feeling good whatever the outcome. That is why (from a psychological perspective) I tend to bet against England. I ask myself how much I would you be prepared to pay to see England progress in the tournament? If England get to the World Cup Final I would be more than happy to pay £100 to see them do it therefore I would happily put £100 on England’s opponents to win. My logic has always been that I win either way. If England win the game, I will be on an ecstatic high. I wouldn’t care about losing £100. If England lose the game, as at least I would have the winnings to soften the blow!

I can’t promise that these tips will help anyone win lots of money, but they will certainly help you minimize any losses!

Dr Mark Griffiths, Professor of Gambling Studies, International Gaming Research Unit, Nottingham Trent University, Nottingham, UK

Further reading

Auer, M. & Griffiths, M.D. (2013). Limit setting and player choice in most intense online gamblers: An empirical study of online gambling behaviour. Journal of Gambling Studies, 29, 647-660.

Auer, M. & Griffiths, M.D. (2013). Behavioral tracking tools, regulation and corporate social responsibility in online gambling. Gaming Law Review and Economics, 17, 579-583.

Auer, M. & Griffiths, M.D. (2014). Personalised feedback in the promotion of responsible gambling: A brief overviewResponsible Gambling Review, 1, 27-36.

Griffiths, M.D. (2005). Does advertising of gambling increase gambling addiction? International Journal of Mental Health and Addiction, 3(2), 15-25.

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