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High and low self-handicappers (as measured by E. E. Jones & F. Rhodewalt's 1982 Self-Handicapping Scale) were asked to play a game of pinball (in a competitive or noncompetitive setting) after they had practices as much as they wanted on a related task (thus, not practicing could have served as a self-handicap). High self-handicappers who did not practice much became more involved in the game and subsequently reported enjoying the game more than high self-handicappers who practiced a lot. Furthermore, the effects on enjoyment were mediated by task involvement, suggesting that the protection afforded by self-handicapping affects intrinsic motivation by allowing the individual to become absorbed in the activity instead of focusing on performance concerns. Individuals who self-handicap may be providing themselves with the "breathing room" they need to become absorbed in an activity and to experience the activity as enjoyable.
Deppe et al. (Mon,) studied this question.