Which Bingo Players Are More Generous After a Bingo Jackpot Win
Economists assume that all individuals behave optimally, that is, they use all information available to them to make rational choices. However, when it comes to the opportunity of winning a prize such as a large competition cash win, men and women behave different. Rational decision making so often can fly out the window, but mainly for whom?
Consider research from the University of London which studied the behavior of contestants during a game show aired in the Netherlands. The study was undertaken to discover what people’s motivations were when making decisions that affect others as well as themselves when money was involved.
They analyzed the behavior of the contestants who were taking part in a game show which, at the end of the game, two final contestants had a critical decision to make.
The critical decision was for each of the players to make a decision whether to share or grab the large sum of prize money. Each player made his or her decision without the other contestant knowing what the decision was. If both players chose to share the amount, they would each get half. If a player chose to share while their opponent chose to grab, the opponent received all the money. The crucial element was that if both players chose grab, they would both end up with nothing.
Now to seek the maximum return from the prize money a player would have to choose to grab. This actually happened on 60% of occasions where men were making the decision, with the results showing that female players shared almost 60% of the time, implying that money is not the only motivating factor and proving that women are indeed the fairer sex. Since they shared more often it also showed that female players who made an explicit promise to share are more likely to do so.
Now the idea that women share more often does not necessarily mean women are more generous. In fact, research conducted by one large bank shows that men are more likely to lend a friend a larger sum of money than their female counterparts. A third of women questioned (33%) said the maximum amount they would lend a friend would be £100, while one in ten (11%) of men said they would lend a friend more than £2,000.
So if you won a sum of prize money perhaps on bingo online, would you share the pot? The likelihood is yes. Everyone likes to share their happiness and in particular with friends and family. Even if you win a small amount you are likely to share a small part of this.
Research by one leading online bingo games provider showed that their female players often spent their prize winnings on family members and the household before spending on themselves. 72% of winners gave part of their prize money to their family, while 61% spent it on buying things for the house. Only 35% actually spend their money immediately on things for themselves, be it clothes or personal items.
The larger the sum of money however, the more likely it is that a player will keep a large part of it to themselves. Large sums of money enabled players to buy larger things such as cars or holidays, which inevitably meant that these were personal purchases.
The survey showed that men were more likely to buy personal items for themselves, be it toys for boys, clothes or other, with some 53% saying they actually spend their prize money on social activities and personal items.