Gamblers are financially conservative

by on September 27, 2003 at 7:47 am in Economics | Permalink

Well, sort of. Read this:

The Roper ASW survey of 2,000 Americans finds that despite a penchant for taking risks, wagerers are relatively conservative with money at home: 61% say they always or almost always pay off their credit cards every month, compared with 52% of the general population. Saving money in a retirement plan was cited by 50% vs. 40% of the general public.

Financial conservatism also marks gamblers’ shopping habits. The typical player is a coupon clipper (56%, compared with 51% of the general population) and buys in bulk to save (47% vs. 35%). The survey’s margin of error is plus or minus 3 percentage points.

N.B.: This is a survey, not a regression controlling for the relevant variables.

And who gambles?:

The survey pegged median household income for casino gamblers at $50,716 vs. $42,228 for the population as a whole…The typical bettor? A woman. The survey finds 54% of gamblers are female. The typical gambler also is aging: 57% are older than 50. And gamblers are not the flashy card sharks portrayed on TV. Most like pulling the slots; 74% say it’s their casino favorite. Just 14% say they prefer table games like blackjack.

Here is the study of gamblers, and here is the Roper home page. The study description and quotations are from USA Today.

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