Hope springs eternal for sports bettors, as they typically expect to break even on future wagers even when they have consistently lost money in the past.

Now we know roughly how overconfident many gamblers are. A study by Stanford University researchers finds that the average online sportsbook customer expects a gain of 0.3 cent for every dollar wagered. In reality, sports bettors lose an average of 7.5 cents per dollar wagered, reflecting “widespread overoptimism about financial returns,” according to Matthew Brown lead author of the study.

The study also found that 20% of participants reported betting too much. To promote responsible gambling, online sportsbooks have rolled out features making it easy for users to track their results over time. But since most sports bettors are overly optimistic about their future betting, those measures likely won’t do much to curb problematic gambling,

Brown says. “Even when bettors know their past losses, they remained optimistic about the future, so that particular approach to consumer protection might not be enough,” he says.

Possible Preaching Angle:

As online gambling infiltrates society (and the church), there are more opportunities for temptation, people can hide their gambling addiction by not leaving their home. How many secret addicted gamblers are there in our churches?