Betting During March Madness May Make the Games Less
MONDAY, March 14 (HealthDay News) -- Watching this year's NCAA
March Madness basketball tournament may not be much fun for those
who bet on the games, one expert suggests.
Though the current popularity of office pools, online betting
sites and spoiler message boards seems to suggest that predicting
the outcome of games increases enjoyment, that's not the case,
according to Stephen M. Nowlis, a marketing professor at the Olin
Business School at Washington University in St. Louis.
A study he co-authored found that people who make predictions
about uncertain events, such as sporting events, experience
significantly less enjoyment while watching the events than those
who don't make predictions. The research was published in the
Journal of Consumer Research in 2008.
"We thought the opposite would be true," Nowlis said. But "predictions become more aversive when the outcome of the event is highly uncertain. ...We explain our results in terms of anticipated regret."
Interestingly, picking a winner doesn't seem to help.
"One compelling finding from our studies was that, among those who made predictions, participants who were correct enjoyed the event no more than those who were incorrect," Nowlis said.
The American Academy of Family Physicians explains how to know
when gambling is a problem.
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