Why Sports Betting Is So Hard to Slow Down
Episode Description
When betting is only a tap away, it is much harder to slow down and think clearly.
Michael Platt, Professor of Marketing, Psychology & Neuroscience at The Wharton School, explains why frictionless betting can drive impulsive decisions and how breathing may help reduce the urge to bet.
ABOUT THE PODCAST This Week in Business features interviews with Wharton faculty about the latest news, fascinating trends, and issues impacting both consumers and the business world. Episodes are recorded at the Wharton School and published twice per week.
----- The Wharton School of the University of Pennsylvania is committed to sharing its intellectual capital through Knowledge at Wharton, the school’s online business analysis journal.
Launched in 1999, Knowledge at Wharton offers free access to:
- Articles, podcasts, and videos highlighting Wharton faculty research and analysis of current business trends - Interviews with book authors from Wharton School Press - In-depth series of curated content like Wharton Executive Education’s Nano Tools for Leaders - A searchable database of more than 10,000 articles covering all aspects of business - A weekly newsletter that delivers Knowledge at Wharton insights directly to your inbox
Visit the Knowledge at Wharton homepage: https://whr.tn/3qUpSBE Subscribe to the Knowledge at Wharton YouTube channel: https://whr.tn/3DEAgAU
Brief Summary
Automatic payments hide spending pain, while slower breathing may curb dopamine-driven betting and support better decisions.
Key points
- The hidden pain of spending. When purchases go straight to a bank account or credit card, the cost can feel distant until the statement arrives. That makes it challenging to think rationally about spending.
- Breathe before you bet. The speaker describes research suggesting that slowing your breathing can reduce arousal and the dopamine-driven urge to take bets, potentially leading to better decisions.
