An insight into the types of people who bet on sport.
The vast majority of punters are “little old ladies”, who now account for more than 80% of those betting. As they keep more money in their coffers and spend it less, you’ll find they’ve followed the advice of the bookies and taken the the small “shares” (exchange traded funds) of an investment portfolio; as much as they need to survive, they invest in a diverse portfolio, so if the overall market falls by a bit, they’re better protected. They will also invest in an online game company, in the hope that, although few will understand why, it will rise in value.
The casual gambler thinks of sport as one giant business, where they spend some of their “normal” spending money on a product. Some people, however, become more engaged and actively take part in betting during sports days, and become very involved in the rules. Some will queue to get into the grounds of a rugby stadium, with an anticipation fuelled by an understanding of the different rules, while others will turn up in their Sunday best to see a footie game. It’s not always sensible to bet, though, and some will gamble to get fit, improve their personal skills or achieve a goal in life.
Suspected foul play
There are many examples of apparent “foul play” in sport, from friendly taunts to deliberate jumping, but the minority are prepared to make money from it. Betting on match-fixing is legal, but those who try to take the spot-kick or score the winning goal will be caught. Those who bet on foul play are often those that enjoy a good laugh, finding it amusing, but they’ll often become enthused when they see a star player make a horrendous mistake.
Hopes are high that one team will win or lose. Any one side can win if another team makes a mistake, such as when goalposts catch a ball, and when a referee fails to spot a foul. If a game is boring, then the boredom is self-perpetuating as one team is continually defeated, and so the players’ morale is low, leaving the other team to walk away with the win. Some spectators and fans of a team are already unhappy that the team hasn’t won, before the game even begins, which leads to a negative mood throughout the ground, leading to lacklustre performances.
Backing the under
Many bets are centered on the number of goals or points a team will score. The individual taking these bets are usually caught up in the excitement of the game, but there’s also an understanding that the bet will get both sides excited and there’s a willingness to try to win a portion of the profit if the bets pay off. You might be tempted to put your money on the underdog, but remember that just because you put your money behind the underdog, doesn’t mean that the team they’re up against will be on the end of a heavy defeat. The mathematics is simple; those that take a chance on the underdog must be prepared to lose, too, so it’s not necessarily a good idea to bet on the underdog if you’re taking a bet with the intention of making a profit.