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      Request-a-bet sports betting products indicate patterns of bettor preference and bookmaker profits

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          Abstract

          Background and aims

          Request-a-bet services are a modern gambling product delivered via the social network Twitter, which allow sports bettors to design custom bets. The public nature of Twitter data provided a unique opportunity to investigate patterns of bettor preference and the bookmaker profit margin in soccer, the UK’s favorite sport.

          Methods

          Two multi-method studies. Twitter users’ engagement with request-a-bet services was monitored unobtrusively ( n = 1,406), meaning that potential patterns across users’ requests could be observed, and the bookmaker profit margin could be estimated. Twitter users were also surveyed directly ( n = 55), providing self-report measures of request-a-bet usage.

          Results

          Twitter users requested bets with an average potential payoff of £56.5 per £1 risked (median = £9). Overall, 9.7% of requested bets paid-off, but these were mostly bets at short odds. This meant that requests yielded a high bookmaker profit margin of 43.7% (roughly eight times higher than current margins in conventional soccer bets), which increased to 74.6% for bets at longer odds. Requested bets also tended to involve star players from the best teams. Finally, 92.7% of surveyed Twitter users reported placing at least one bet via request-a-bet services (mean = 44.4 bets).

          Discussion and conclusions

          Researchers can use request-a-bet products to increase their understanding of sports betting behavior. Sports bettors should be given information about how much higher the bookmaker profit margin can be in modern sports bets compared to the conventional sports bets that they may be more familiar with.

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          Author and article information

          Contributors
          Journal
          2006
          Journal of Behavioral Addictions
          J Behav Addict
          Akadémiai Kiadó (Budapest )
          2062-5871
          2063-5303
          08 September 2020
          Affiliations
          [1 ] Experimental Gambling Research Laboratory, School of Health, Medical and Applied Sciences, CQUniversity , 120 Spencer St, 3000, Melbourne, VIC, Australia
          [2 ] Applied Psychology, WMG, University of Warwick , Coventry, CV4 7AL, United Kingdom
          [3 ] Department of Psychology, University of Warwick , Coventry, CV4 7AL, United Kingdom
          [4 ] Technische Universität München , Arcisstraße 21, 80333, München, Germany
          Author notes
          [* ]Corresponding author. E-mail: p.newall@ 123456cqu.edu.au
          Article
          10.1556/2006.2020.00054
          © 2020 The Author(s)

          Open Access. This is an open-access article distributed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License ( https://creativecommons.org/licenses/by-nc/4.0/), which permits unrestricted use, distribution, and reproduction in any medium for non-commercial purposes, provided the original author and source are credited, a link to the CC License is provided, and changes – if any – are indicated.

          Page count
          Figures: 2, Tables: 1, Equations: 0, References: 32, Pages: 07
          Product
          Self URI (journal page): https://akademiai.com/loi/2006
          Categories
          Full-Length Report

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