Micro-event betting relates to the deconstruction of sporting events into smaller, stand-alone units that customers can bet on rather than on the full event. For example, rather than betting on the outcome of a basketball match, it is also possible to bet on the winner of a specific quarter of the basketball match. Micro-event betting increases the betting opportunities and therefore the flexibility available to online gambling customers, because similar to live betting, the customer is no longer restricted to betting on events before they commence. Furthermore, the deconstruction of sporting events into several individual units often has the impact of reducing the duration of bet. Put simply, if a customer wants to bet on tennis, they can receive feedback on whether they win or lose much more ทางเข้าlsm ล่าสุด rapidly if they bet on who will win the next point, game or set, in contrast to betting on the outcome of the full match.
The data revealed that the implication of betting on micro-events for problem gamblers is that it facilitated higher event frequency and shorter event duration in sports betting and that the rapidity of feedback on gambling outcomes enabled participants to either immediately re-stake winnings or commence loss-chasing. The availability of micro-event betting may have benefits in terms of customer experience, as it provides more flexibility; however, it is evident from the data that it can be used to increase the speed and event frequency of sports betting and ultimately facilitate extensive and intensive online sports betting sessions for problem gamblers. Table 3 is a truncated extract of micro-event betting from a larger 168-min online sports betting session and provides a brief illustration of the intensity possible in online sports betting sessions in terms of speed of play and outcome feedback and the amount of transactions that can occur within a relatively short time period. In the extract presented in Table 3, the mean time between bet placement and the returning of funds into one’s account was 149.9 s for each bet. Moreover, participant 11 placed 22 different bets in 168 min, culminating in 51 account transactions within that time period. The opportunity to bet on micro-events has facilitated problem gamblers in this sample to engage in rapid, intensive online sports betting sessions, which is in contrast to traditional forms of retail sports betting such as on- and off-course betting.
In many instances, modern online sports betting operators permit customers to ‘cash out’ bets on sporting events that have not finished. Cashing out effectively terminates the original bet and the customer is returned to their account, a mutually agreed monetary sum that reflects the probability of the original bet winning based upon the current status of the sporting event. The amount cashed out during the event may be more or less than the original amount staked and therefore could be interpreted to be a win or a loss on this basis.With respect to the online sports betting loop that consistently emerged within the data, cash out becomes relevant as a mechanism for extending an online sports betting session. If a customer has placed a bet and used all their available funds from their online account and wishes to continue to gamble and place further bets, in many instances, they will have the potential to cash out and therefore make funds available within their account that can be re-staked on different bets. With respect to the duration of a sports betting session and facilitating the continuation of the sports betting loop process, cashing out becomes particularly important when the original bet appears to be unlikely to win. If a customer’s account funds are depleted, and they were without the option to cash out a probable losing bet and retain at least a proportion of the original amount staked, the sports betting session would be shorter than if money could be retrieved and re-staked elsewhere via cashing out.In Table 4, participant 5 is observed repeatedly using the cash out function to cancel bets that appear likely to lose and retrieve a proportion of the money that was originally staked. In this example, participant 5, on each occasion, was losing a large percentage of original stake when cashing out. Furthermore, as observed consistently across the cohort data, money retrieved via the cash out function was re-staked rapidly. Within the extracted behavioural data illustrated in Table 4, the mean length of time between the cashed out funds returning to the participant’s account and the placement of further bets was 196.5 s.