Does Sports Betting Affect Investment Behaviour? Evidence from Ghanaian Sports Betting Participants.

Ofosu, A., & Kotey, R. A. (2019). Does Sports Betting Affect Investment Behaviour? Evidence from Ghanaian Sports Betting Participants. Journal of Gambling Issues, 43.

23 Pages Posted: 3 Mar 2020

See all articles by Albert Ofosu

Albert Ofosu

University of Ghana - University of Ghana Business School (UGBS)

Richard Kotey

University of Ghana - University of Ghana Business School (UGBS)

Date Written: February 1, 2020

Abstract

The study sought to assess the impact of sports betting on the investment behaviour of Ghanaians, focusing on sports betting centres within the Accra Metropolis, Ghana. The objectives of this observational study were to determine how individuals perceive the risk of sports lotteries as opposed to investment, to determine if sports lottery was viewed as an alternative to investments and savings, and to understand how participation in sports lotteries affects individuals’ ability to save and invest. In adopting a survey approach, 99 sports betting participants across selected betting centres were examined using questionnaires and the data subsequently analyzed through cross-tabulations. The study found that sports betting behaviour had a complementary rather than a substitutionary effect on investment behaviour. The participants were both risk-aware and risk-averse but engaged nevertheless in betting for a chance of winning a high payoff. Thus, the findings demonstrated that sports betting participants viewed betting as a means to an end, a chance to improve their financial circumstances, rather than as a substitute for investing, and exhibited an understanding of a clear distinction, with regards to behaviour, towards investing and sports betting. In return for a substantive payoff, the respondents were willing to stop sports betting, thereby indicating that the financial payoffs were the main motivation for sports betting. The findings also provided evidence that individual sports betting behaviour can be moderated by influencing one’s financial circumstances.

Keywords: Sports Betting, Investment Behaviour, Football Gambling

JEL Classification: E21, E22, L83, Z20, Z23

Suggested Citation

Ofosu, Albert and Kotey, Richard, Does Sports Betting Affect Investment Behaviour? Evidence from Ghanaian Sports Betting Participants. (February 1, 2020). Ofosu, A., & Kotey, R. A. (2019). Does Sports Betting Affect Investment Behaviour? Evidence from Ghanaian Sports Betting Participants. Journal of Gambling Issues, 43., Available at SSRN: https://ssrn.com/abstract=3530172

Albert Ofosu

University of Ghana - University of Ghana Business School (UGBS) ( email )

Volta Rd
Accra
Ghana

Richard Kotey (Contact Author)

University of Ghana - University of Ghana Business School (UGBS) ( email )

Volta Rd
Accra
Ghana

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
57
Abstract Views
288
rank
429,511
PlumX Metrics