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West Virginia University researchers are launching a study of loss-chasing behavior in online betting, backed by nearly $300,000 from Arnold Ventures. The project will use real-time betting data from West Virginia gaming operators under a state law passed two years ago that requires operators to provide timely data to WVU.
The research is based at the WVU John Chambers College of Business and Economics and is focused on identifying when bettors respond to losses by placing additional wagers in an effort to recover previous losses.
Study will examine betting behavior before and after losses
According to WVU, researchers will analyze betting decisions made before and after losses to identify patterns tied to risky gambling behavior. Brad Humphreys, who has studied gambling-related issues for more than 20 years, said some people place "hundreds of bets on sporting events in just one month through online gaming operators."
Humphreys said the goal is to identify harmful behavior early enough for interventions to reduce financial harm. "West Virginians who gamble irresponsibly need help. Our research is going to make it easier to get those people help," he said.
He also said nearly 90% of sports wagers in West Virginia are parlays. WVU said the study will look at whether losses on bets such as near-miss parlays contribute to loss-chasing behavior.
Findings could inform responsible-gambling measures
WVU said the project is intended to generate evidence that regulators, policymakers, gaming companies, and public health professionals can use to improve responsible-gambling tools and consumer protections.
Humphreys said that if the research shows near-miss parlay losses trigger loss-chasing, operators could potentially identify those players when the loss occurs and "take measures like pausing accounts to prevent those people from doing financial harm to themselves."
Joshua Hall said the grant will help the university produce research as more states expand online gaming. West Virginia is one of seven states that allow iGaming, according to WVU.
The Arnold Ventures funding was awarded through the WVU Foundation.
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Source: As reported by wvnews.com.
