Survey reveals cognitive bias and impulsivity in young adults affects betting, suggesting need for responsible marketing.
Popularized and heavily promoted sports betting is new to the North American sports landscape. It is a highly competitive market and as a result, providers aggressively advertise and incentivize. Several vulnerable segments exist, but young adults are most susceptible to irrational decision-making yet receive the most attention from advertisers. Given this, it is important to understand the impact of age as it relates to betting and decision-making. The current study surveyed 514 sports bettors to learn the moderating impact of age between the theoretical relationships of self-efficacy, confirmation bias, and illusion of control. The results indicate cognitive bias varies by age. Younger sports bettors tend to be more impulsive and overconfident in their wagering decisions. Older sports bettors tend to be more rigid. Based on the findings, marketers must look solely beyond revenue when formulating strategy and consider responsible marketing tactics to ensure ethical practices.
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Dwyer et al. (2025) studied this question.
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