Fantasy Millionaires: Identifying At-Risk Consumers Based on Motivation
in Journal of Sport ManagementThe daily fantasy sports (DFS) industry came under heavy criticism for marketing messages focused on the potential for financial gain despite overwhelming evidence that only a small percentage of participants were actually winning money. Under pressure, many DFS websites are shifting their focus toward the activity’s entertainment value. The purpose of the current study is to determine if participants exhibit cognitive and behavioral differences based on their reason for playing. In this study, a sample of DFS participants was segmented based on intrinsic (entertainment) and extrinsic (financial gain) motivation scores. Once separated, cognitive and behavioral contrasts were drawn. The results indicated those individuals motivated by financial gain were more similar to problem gamblers cognitively, yet those intrinsically motivated spent more time and money on the activity. Given the changing legal status of sports betting in the United States, managers and policymakers should carefully consider the risks associated with DFS participation.
Drayer is with the Temple University, Philadelphia, PA. Dwyer is with the Virginia Commonwealth University, Richmond, VA. Shapiro is with the University of South Carolina, Columbia, SC.
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