I think, therefore I am… thinking? Fast and slow information processing within sports betting.
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1
Department of Psychological Science, School of Health and Human Sciences, Southern Cross University, Australia
Dual process theory is a cognitive phenomenon regulating decision making when outcomes are uncertain. This is represented by a fast, intuitive, automatic approach known as system 1 and a slow, analytic, effortful approach known as system 2. The use of either system is caused by individual differences, or external factors such as limited time and information at hand. Aims: To measure the role of dual process theory in Australia’s largest growing gambling industry, sports betting, and ascertain whether system 1 or 2 has an effect on the mean dollar wagered on matches. Method: Seventy-five participants were recruited via email to Southern Cross University students, social media postings (Facebook and Twitter) and from handing out fliers in the wider community. The online survey began with the Cognitive Reflection Test by Frederick (2005) to categorise participants as predominantly system 1 and 2 decision makers. They were then randomly assigned to one of two betting designs, with and without an advertisement style banner. There were nine betting items consisting of NRL, AFL and A-League matches using real odds from the most recent seasons. Participants then bet from 0 to 100 dollars on each match. The final section asked demographics and gambling experience questions. Problem gambling behaviour and consumption was measured using the Consumption Screen for Problem Gambling (CSPG) and the Problem Gambling Severity Index (PGSI). Results: A two-way (decision making style, advertisement condition) ANOVA was conducted. A main effect of decision making style on mean dollar bet was not found, F (1, 71) = 0.001, p = .976. There was no significant main effect of banner condition on mean dollar bet over the nine items, F (1, 71) = 3.35, p = .071. The interaction between the decision making style and the banner condition on mean dollar bet was not significant, F (1, 71) = 0.445, p = .507. Conclusions: System 1 and 2 thought and the presence of an advertisement style banner did not significantly influence the mean dollar wagered over the nine items.
Keywords:
Gambling,
Sports betting,
System 1,
System 2,
Dual process theory
Conference:
15th Annual Psychology Honours Research Conference , Coffs Harbour, Australia, 4 Oct - 5 Oct, 2018.
Presentation Type:
Research
Topic:
Abstract for 15th Annual Psychology Honours Research Conference
Citation:
Jones
B and
Bowling
A
(2019). I think, therefore I am… thinking? Fast and slow information processing within sports betting..
Front. Psychol.
Conference Abstract:
15th Annual Psychology Honours Research Conference .
doi: 10.3389/conf.fpsyg.2018.74.00009
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Received:
18 Sep 2018;
Published Online:
27 Sep 2019.
*
Correspondence:
Mr. Bradley Jones, Department of Psychological Science, School of Health and Human Sciences, Southern Cross University, Coffs Harbour, Australia, b.jones.42@student.scu.edu.au