Recent Research Shows That Finnish Men With Higher IQs Are More Likely To Bet on Horse Racing
According to recent study from researchers at the University of Eastern Finland and the University of Liverpool, men with higher IQs are more inclined to bet on horse races.
Men with higher numerical IQs were shown to be more likely to partake in skill-based gambling, such as horse racing, choose more complicated betting options, and spend more money, according to a study published in the Journal of Behavioral Decision Making.
More than 15,000 Finnish males who had taken an IQ test as part of their mandatory military duty while enlisting in the Finnish Defense Forces participated in the research. This was cross-referenced with thorough records on the men’s online gambling behavior as well as statistics from Statistics Finland on their socioeconomic standing, income, and level of education.
Women were not included in the data since Finnish legislation only requires males to complete military service and take an IQ test.
Correlation Between Intelligence and Gambling
Commenting on the findings, Professor David Forrest from the University of Liverpool Management School said: “Our research found a strong correlation between men with a high IQ and those who take part in skilled gambling, such as betting on horse racing. It is important to note that our findings can’t necessarily be generalised to chance-based gambling, such as gaming machines. However, there is very little previous research on the association between intelligence and skills-based gambling and so finding such a strong link is significant.”
The study does not provide a definitive answer on why men with higher IQs would enjoy betting on horse racing, but the researchers believe this could be because men with higher IQs enjoy the mathematical challenge posed by such skill-based betting.
Associate Professor Jani Saastamoinen of the University of Eastern Finland said: “Betting could be compared to solving crossword puzzles. Perhaps, bettors like to crunch numbers and find the winning horses – even though they know they’ll end up losing money in the long run.”
Reference: “Does IQ predict engagement with skill-based gambling? Large-scale evidence from horserace betting” by Niko Suhonen, Jani Saastamoinen, David Forrest and Tuomo Kainulainen, 4 September 2022, Journal of Behavioral Decision Making.
DOI: 10.1002/bdm.2300
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9 Comments
“Skilled gambling”. Oxymoron.
Seems more than a little pointless, but I have to question the definition of betting on the horses as “skill-based gambling”. Poker requires skill on the part of the bettor…horse races require nothing more than money to burn.
Another useless study, created for money. What a waste of our time.
“Junkies and @ssholes confirmed as genius in new study”
Russ, I was thinking the same thing the whole time. Only thing I could come up with is the notion that statistics could be applied to historical records of races to determine how much pure chance reigns in overall horse races.
If you knew pure chance gave a certain unfavored horses (or sets) a statistically high payout compared to their current odds then you could find many races with odds too in favor of just a few horses and basically short sell the favored ones all while hedging against yourself at a rate that is informed by how strongly the most favored horses typically push back against pure chance.
Russ, I was thinking the same thing the whole time. Only thing I could come up with is the notion that statistics could be applied to historical records of races to determine how much pure chance reigns in overall horse races.
If you knew pure chance gave a certain unfavored horses (or sets) a statistically high payout compared to their current odds then you could find many races with odds too in favor of just a few horses and basically short sell the favored ones all while hedging against yourself at a rate that is informed by how strongly the most favored horses typically push back against pure chance.
I see this a lot in “futures” markets for things like political outcomes. Tends to be male dominated, and extremely nerdy, with political wonks and statistics nerds separating hard-core partisan believers from their cash.
In these markets, perhaps a hard-core MAGA champion bets the Republicans will take the senate. The nerds look at data, then make an informed bet.
In the effectively gambling political futures markets, this article rings true.
So, what percent of geniuses actually gamble anyway. A foolish minority does not represent the majority. It might be that among smarter people, there is a greater (minority) fraction that craves a desire for a thrill. After all, putting up with all the dumbassery of being human is harder when you are smarter enough to see it, including seeing it within yourself.
Russ, freewave,
Wow what makes either of u assume that any of those animals or thier respective handlers are there by chance? There is quite a bit that can be calculated into placing a bet at a horse race … We’re talking hundreds of years of documented breeding in some cases, years of training for the animals and the riders not to mention relationship between the animals and the riders in most cases the rider is highered according to their level of skill and experience not to mention height and weight and weather or not the animal and rider can be a good fit as far as personality and comfortability… It doesnt matter how fast a horse is if he doesnt like the way someone smells or speaks or just anything about someone he wont be his best with close contact of something he doesbt like … There are a lot of elements to a horse race of which i have just barely began to explain here … Its by far a chance bet but perhaps that is why the study shows men with high iq were engaging in this activity haha