PSYCHOLOGICAL FACTORS INFLUENCING STUDENTS’ PATRONAGE OF SPORTS BETTING: A CASE STUDY ON KOFORIDUA TECHNICAL UNIVERSITY STUDENTS

Abstract

This study examines the prevalence and influencing factors of sports betting behavior among students at Koforidua Technical University in September 2023. Through extensive data analysis, the research unveils that sports betting is a widespread activity among the student body, influenced by a complex interplay of psychological, technological, and motivational factors. Psychologically, cognitive biases such as availability heuristics, gamblers fallacy, outcome bias, hindsight bias, and confirmation bias, coupled with emotions, play a significant role in shaping students' betting decisions. The study also highlights the substantial influence of Information Technology (IT), including online platforms, digital advertisements, mobile applications, social media, mobile money and features such as in-play-betting, cashout and partial cashout in facilitating easy access to sports betting opportunities. Motivational factors behind students' sports betting engagement include the desire to win money, peer influence, financial strain or unemployment, entertainment, and curiosity. The study underscores the need for awareness campaigns, educational programs, and support services to address these motivations and promote responsible gambling behavior.