A new report released by the British market research and analytics firm YouGov unveils interesting details regarding the gambling spent of wealthy Brits.
YouGov Reveals Details of a New Research
Last week, YouGov released details regarding new research seeking to determine the gambling spent for Brits with different incomes. The analytics firm created three types of control groups. The first group included people that have income higher than 200% of the nation’s median income.
The second group included people with middle income, between 75% and 200% of the median income in the country. The last group featured people who are having a lower income, making less than 75% of the nation’s median income.
Euromillions and Sports Betting: The Most Popular Gambling Activities
YouGov’s whitepaper revealed that regardless of the income type, Euromillions is the most popular form of gambling. In fact, Euromillions was the wealthy’s favorite gambling activity, considering that 26% played at least once a month. In contrast, 23% of the middle-income earners favored that type of gambling. Euromillions was also popular among low-income earners as 21% of them have played at least once a month.
“High-income Brits are more likely to play Euromillions at least once per month,”
YouGov
The second-most popular gambling activity among wealthy Brits is online sports betting. Some 12% of the high-income Brits placed a bet on a sporting event at least once per month. YouGov revealed that separate research found out that the wealthy population is “more likely to feel that betting helps them feel more engaged with sports they like.”
Middle-earners come in second as 9% of them placed at least one bet on sporting events. On the other hand, National Lottery scratchcards proved to be a popular type of gambling for the middle-income group. Some 11% have participated in that form of gambling.
Sports betting is popular among low-income earners as well, considering that 7% of that group placed at least one bet per month. However, the low-earning group also favored Thunderball. Some 8% of the group has participated in that form of gambling.
High-Earning Brits Are More Likely to Take Higher Gambling Risk
Interestingly, continuously collected data by YouGov showed that high-income Brits are willing to take higher gambling risks when compared to the low-income Brits. The results were based on a scale from zero to ten, where zero represented that the individual wouldn’t take any risk and ten meant that they are prepared to take risks.
Some 31% of the high-earning Brits have placed themselves as “seven or above” based on YouGov’s scale. In contrast, only 23% of the lower-income group scored themselves as seven and above.
YouGov explained that this is not an unexpected result, considering that high-income Brits have more disposable income. Consequently, this allows them to take a greater risk. Additionally, YouGov acknowledged that consumers that “give themselves a risk score of seven or higher are more likely to take part in all gambling activities.”