How Women are Fuelling Growth in the Sports Betting Market?
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When it comes to online sports betting, we’ve seen that the market is primarily dominated by men – with more number of men wagering on sports than women. Several reasons have been attributed towards this behaviour:
Women are more apprehensive about staking their money on sports betting than men
A majority of online casinos are failing to target women players
Gambling is associated with masculinity and hence, there remains a misconception that women aren’t better in wagering
Women demonstrate more emotion in wagering which can make them lose more
However, the sports betting industry has undergone a sea change over the years. More number of women have pushed behind all stereotypes and driving the online sports betting market in recent times. A new study by HPL Digital Sport shows that gender inequality is fading away quickly in the gambling industry, with female bettors making up almost 50% of the total sports fan base.
As more number of women are now participating in online sports betting, the casinos are gearing up to offer an enhanced experience. Some online casinos provide anonymity and attractive perks for women. Others, as you would see on this page, bring together the best sports betting sites on a single platform – making it easier to compare and choose one that combines a wide selection of sports and an improved betting experience.
Are Women Better in Sports Betting Than Men?
The report by HPL Digital Sport highlights that though women represent only 33% of the sports betters, they account for an average of 17% total wagers as compared to 18% by men. This means despite that the number of sports betters is majorly titled towards men, females place as many daily wagers as males. But how successful are they in betting?
Various studies reveal that women are more successful in sports betting than men, i.e., the rate of loss is significantly lower in case of females. There may be several reasons behind this – women have a higher aversion to risks and hence, they tend to be less emotional when wagering on a sport. On the other hand, men take risks easily and therefore, their chances of losing on a bet is relatively higher.
Another aspect may be that females think more strategically when betting and take calculated risks. Or perhaps they are more inclined towards betting on lower odd events. So, they take the “sure thing” approach rather than many men who wager on longshots. This is one reason why studies indicate that women players are less likely to wager on parlay bets which are ideally high reward/high risk activities.
Sports betting activities by females are majorly focused around single bets such as NBA Final, Super Bowl, etc. These are less riskier. Another reason why more women are found to be successful in sports betting is because they are less likely to extend a winning deal. Most women are more easily contended with their winnings instead of reinvesting the amount in placing a bigger bet.
What Motivates Females for Sports Betting?
Most women say they gamble on sports online or at a casino entirely for its “entertainment” value. In many cases, they perceive visiting a casino as a symbol of status or a social outing. Therefore, they have less pressure to win than men who wager mostly for money. While the true reason isn’t known yet but women primarily engage in sports betting for socialisation and entertainment – with money considered as a less vital factor.
Keeping pace with the latest trend, even industry experts are trying hard to mitigate gender biases and persuade more women to actively engage in sports betting.
