Types of bettors
Low Vs. High-stake bettors
Low-stake bettors prefer to gamble safely. The common reason depicting this type of bettors is “My stake is so small I do not care if I lose”. High-stake bettors usually bet on a single event. High stake players are usually “macho” types, as they undervalue the risk of high potential losses.
Winning Vs. Losing bettors
A winning bettor is one who is on the winning side for a long period of time. A losing bettor is one who often loses.
Long-term Vs. Short-term bettors
Long term bettors prefer markets that develop throughout a long period of time (e.g. who will win English Premiership; who will get relegated from Series A). Short-term bettors focus their attention on every single event in the betting pool.
Gambler, Punter, Wagerer
Betting from a historical point of view
• Paintings on the walls of Egyptian tombs dating back to 3500 B.C. depict men in games with astragali-ankle bones of sheep or deer that were used as dice. Evidence of dishonesty in gambling and social problems related to habitual gamblers is almost as old as the activity itself. ‘Loaded’ bones (dice) have been found in Egyptian tombs, and there is evidence that the Egyptians attempted to control compulsive gambling.
The profession “bettor” is still not recognized by the International Labour Organization. However, in most countries it is absolutely legal to be a bettor. Of course, there are some exceptions like Taiwan, for example, where the fine is up to 5 years imprisonment for betting on sports.
• Eight Men Out (1988) – a true story about 8 baseball players from Chicago White Sox, who were bribed by a mob to lose the series;
• Owning Mahowny (2003) - based on a true story about Brian Moloney, who stole $ 10 million to feed his addiction to bets;
• Revolver – the story of an ex-prisoner, who ruins the life of a casino owner. The film gives valuable psychological aspects of the successful bettor.
• Two for the Money (2005) – about the world of sports betting. A US football star becomes a tipstar to a large sports information company. He experiences a high profile lifestyle, reaches his peak, then it all turn sour.
The Psychological aspect of an online bettor
Internet bettors are the same as all regular Internet users – educated and young. This profile is similar to the one of the problem bettors. Still they differ in the characteristics good education and affluent income. A survey in Finland has shown that all the problem bettors were mainly males, and the problem internet bettors were all males.
- : Resolution concerning the revision of the International Standard Classification of Occupations, adopted by the Fourteenth International Conference of Labour Statisticians (October–November 1987)