Does new cash-out option in sports betting increase risk for problem gamblers?

Does new cash-out option in sports betting increase risk for problem gamblers?
Credit: Mary Ann Liebert, Inc., publishers

The increasingly popular cash-out feature in online sports betting is a game-changer, but instead of just giving gamblers more control over their bets, it may increase the risk of problem gamblers losing control over their wagers. What regulators and policymakers can do to protect gambling consumers from potential harm caused by this new type of betting are explored in an article published in Gaming Law Review.

The article entitled "'Cashing Out' in Sports Betting: Implications for Problem Gambling and Regulation" is coauthored by Hibai Lopez-Gonzalez and Mark Griffiths, Deusto University, Spain and Nottingham Trent University, U.K. The authors examine the rising popularity of cash-out features in online sports betting platforms and how cashing out is transforming sports betting from a discontinuous to a continuous form of . It allows bettors to withdraw their bets while an event, such as horseracing or a soccer match, is still underway to ensure at least some gains or minimize losses.

"Keeping up with new products being offered in the marketplace remains a challenge for regulators and those concerned with problem gambling," says Sue Schneider, Editor-in-Chief of Gaming Law Review. "This primer not only explains this new concept, but also takes a look at whether it offers an additional addiction risk for the . It offers a commentary on how best to view the 'cash-out' option and evaluate the consequences of its entry into the market."


Explore further

Sports gambling creeps into kids' consciousness

More information: Hibai Lopez-Gonzalez et al, "CASHING OUT" IN SPORTS BETTING: IMPLICATIONS FOR PROBLEM GAMBLING AND REGULATION, Gaming Law Review (2017). DOI: 10.1089/glr2.2017.2144
Citation: Does new cash-out option in sports betting increase risk for problem gamblers? (2017, May 24) retrieved 20 July 2019 from https://medicalxpress.com/news/2017-05-cash-out-option-sports-problem-gamblers.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
8 shares

Feedback to editors

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more