Why Punters Bet

Punters Tell - WhyWeBet

In a survey, Aussieraces.com asked respondents if they agreed with the following statement -

' The only reason I bet is to win money ’

33% of respondents (132) agreed with the statement.

That the majority of punters (67%) believed that they didn’tonly bet to win money showed that they consciously had other reasons for doing so. These are explored below.

We also asked the survey respondents -

‘Other than to win money, why else do you bet?’.

The responses we received are summarized in Table 1 below. We have categorized the responses using the terminology of the punters and have included verbatim comments to give additional insight into the answers provided.

Table 1 - 'Other Than To Win Money, Why Else Do You Bet?'

Other Reasons Why I Bet…...	Number of Respondents Citing	% of Respondents Citing	Representative Verbatim Comments
Enjoyment/pleasure	89	22%	* “I enjoy racing win, lose or draw”
The Challenge	64	16%	* “To solve the puzzle of picking winners”
The Excitement	43	11%	* “The adrenalin rush” ”The thrill of it”
Love the horses/ sport/lifestyle/industry	42	11%	* “I simply love the sport of thoroughbred racing”
The fun of it	34	9%	* “Betting on sport is good fun”
Entertainment	29	7%	* ”I like the whole show/spectacle”
Its my hobby	28	7%	* “Its an interest/something I do for relaxation”
Its interesting/adds interest	26	7%	* “Betting adds interest to the sport”
I like form study/analysis	23	6%	* “Form study is brain exercise”
Its social	12	3%	* “It’s a great way to spend a day with friends”
Keeps my mind alert	10	3%	* “Helps my mind stay active”
Like watching the races	9	2%	* “I like watching my selections do well & win”
Income	7	2%	* “I treat it as a job”

The prospect of winning money is the obvious and most commonly cited reason why people bet. However, our study identified many other key reasons.

Nearly 1 in 4 of the survey respondents (22%) reported that they bet for ‘enjoyment or pleasure’. Significantly, nearly all of those respondents actually used the word ‘enjoyment’ or a derivative of it in describing why they bet.

In a world where most of the mountains have been climbed, other great challenges met and puzzles solved, there are many punters who love to take on the challenge of winning at horse racing. Responses to our question included “to challenge myself”, “the challenge and satisfaction of getting it right” and “the challenge of picking winners - especially long shots”. 1 in every 6 (16%) respondents cited ‘the challenge’ as being a reason why they bet.

Aussieraces.com May 2015