Are Sports Bettors More Successful Investors?
n Independent casino review portal, BonusFinder.com recently surveyed 1,014 investors and sports bettors in order to conclude which of the two were more likely to make a greater return.
Although investors were the determined winner, the differences were not paramount.
BonusFinder CEO, Fintan Costello, notes: “We were quite surprised to find that the margins were as tight as they were when comparing these two groups.”
“While investors were more conservative with the amount of risk they take, the differences weren’t extreme,” Costello said.
The survey found sports bettors were more likely than stock investors to take risks and feel confident about generating big returns.
However this resulted in Sports bettors being somewhat more reckless than investors, with 58% saying they bet more than they could afford to lose, versus 53% of investors saying they did the same.
The survey also found while investors and sports bettors both accept “the risk” of losing money for a possible reward, they both take this gamble for different purposes.
The main motivation for investors buying stocks was to make money (71%), contrasting to sports bettors who said they place bets primarily for entertainment purposes.
While important to both, only 53% of sports bettors said they place bets to make money.
This ultimately potentially alludes to why investors were more successful than sports bettors, with 64% more likely to report winnings when investing, compared to 45% for their counterparts who bet on sporting events.
Investing was also found to be the preferred activity regardless of age, with individuals reporting to have invested in the stock market to a greater extent than placing bets on sports.
Investors were also more likely to place bets on sports versus sports bettors investing in stocks, the survey suggesting when investors do switch over to sports they may take on a more reckless behaviour.