A recent study commissioned by the American Gaming Association (AGA) has found that individuals who gamble tend to perform better on financial literacy assessments compared to those who do not engage in gambling activities. Interestingly, users of prediction markets reported math skills nearly on par with sports bettors, yet their test results were more aligned with non-gamblers.
The report, titled "Playing the Numbers: Financial Literacy and Numeracy in Gamblers and Non-Gamblers," was authored by Colin López from IN Research & Analytics LLC and Jackson Sears from Matrix Consulting Group in North Carolina.
The AGA highlighted that these findings challenge the prevailing stereotypes associated with gamblers, indicating potential risks when prediction markets are marketed as financial investments.
David Forman, Vice President of Research at the AGA, stated, "This study demonstrates that, contrary to common belief, gamblers are financially astute consumers of entertainment—particularly sports bettors, who exhibit a notably high degree of financial literacy and mathematical skill."
On the