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New research has revealed that although men wager more on sports in the U.S., bettors who are women perform better. There are several factors that have to be taken into account to reach this conclusion, and there is still research needed to figure out why this is.
Men may still bet more than women in sports betting, but the opposite is true for online casinos. Women prefer casinos, but are also catching up in sports betting. They are realizing they have a knack for gambling and, as the paradigm shifts, more are joining. When it comes to sports betting, perhaps it’s worth it to ask a female’s opinion.
Men Still Bet More than Women
A study revealed that 29.7% of male bettors place more than $500 each month in sports betting, while 12.2% of female bettors do. A similar study showed that 65.3% of women who regularly bet on sports spend less than $100 a month.
The study shows that almost two-thirds of all female sports gamblers, either monthly or occasional, are not regular bettors. This could skew the final numbers on who bets better.
Are Women the Best Gamblers?
Although men are more likely to wager on sports for larger amounts and more frequently than women, data suggests that they have better results. The study showed that New Jersey’s women gamblers saw a 19.7% return, while the males lost 5%.
Because of their high-risk tolerance, women are more strategic and less emotional when it comes to betting. Women may prefer to place bets on events with lower odds than longshots and choose the safer option.
Female gamblers are also found 74% less likely to place parlay bets, which may be a high-risk/high-reward activity. Single bets are the most popular form of sports betting for women. This could lead to higher profits.
The study also examined results from online casinos and found that females outperformed their male counterparts. The study found that women aged 25-34 lost 12.2% of their funds playing online casino games. Males lost 23.8%. Younger gamblers are more affected by this disparity: Females aged 18-24 saw a 30.1 percent return on their online casino investment, while males received a dismal 67.3%.
Most Popular Sports With Women
Basketball and football are two of the most popular sports to wager on, regardless of gender. With more than 75% of women and men betting on the NFL, and over 40% of men betting on college football frequently, there are more than 75% of bettors. The percentage of college sports bets that are made by women is less than 20%.
It is important to note that even though professional female athletes are now more prevalent than ever, betting on women’s sports is still significantly behind betting on men’s sports. Even female gamblers can see this. Betting on the WNBA is slightly more appealing to females.
What Drives Women to Gamble
Many women might tell you that they wager online to have fun. A trip to the casino is often seen by women as a social event and they place strict wagering restrictions. Females are less likely than men to feel pressured or to win, and they are less likely not to gamble as much money, which puts them at greater risk.
It is hard to say with certainty. Additional research is required to gather more data and understand the situation. This raises the possibility of women gambling on sports for entertainment, socializing and money secondary.
Traditionally, women have been attracted to luck-based gambling such as lotteries or slot machines. Males, on the other hand, have been attracted to sports betting. Over the past several decades there has been a shift in gender roles. More women are participating in all aspects of sports including commentating and playing.
Gambling is a natural consequence. Sports betting businesses have expanded the events that individuals can wager on, which makes it more appealing to young women.
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