Mental Accounting and Decision-Making among Sport Gamblers in Nigeria

Abstract

This study aimed to investigate the relationship between mental accounting and decision-making among sport gamblers in Nigeria. Specifically, it sought to examine how categorisation of funds for gambling, perception of winnings and losses, and separation of gambling funds from regular income influences gambling choices. The study employed a descriptive survey research design with a sample size of 200 sport gamblers. Data were collected through structured questionnaires. Participants were selected using a simple random sampling technique to ensure diverse representation across various demographic factors. The findings revealed that categorisation of funds (t = 3.245, p < 0.05) and perception of winnings (t = 2.454, p < 0.05) had a significant influence on gambling decisions, while the separation of gambling funds (1.122, p > 0.05) did not significantly contribute to the model. The joint influence of all three components of the mental accounting on gambling decisions was significant (F = 43.872, p < 0.05). The regression model showed an R-squared value of 0.423, indicating that 42.3% of the variance in decision-making could be explained by mental accounting. The study concluded that mental accounting plays a crucial role in shaping decision-making among sport gamblers in Nigeria, highlighting its relevance for understanding gambling behaviour.