A clean slate: adapting the realization effect to online gambling and its effectiveness in people with gambling problems

Ke Zhang, Alex Imas and Luke Clark
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Alex Imas: Carnegie Mellon University

No m9kpe, OSF Preprints from Center for Open Science

Abstract: Betting more after losses (i.e. ‘loss chasing’) is a central clinical feature of disordered gambling. According to Prospect Theory, increasing risk-seeking following losses could arise from a failure to ‘re-reference’. By contrast, successful re-referencing between successive decisions closes the mental account, and any losses are regarded as final or realized; gamblers should not chase realized losses. The present study sought to test this “realization effect” among gamblers using an ecologically-valid online gambling task. We were further interested in whether the effectiveness of the loss realization varied as a function of problem gambling severity. Using an online survey in 227 non-problem gamblers, 239 at-risk gamblers, and 223 gamblers with problems, participants completed nine gambling trials. After trial 6, half of the participants underwent a simulated realization procedure that entailed cashing out from the gambling website, and re-depositing their remaining funds on another website. Participants in the control group were shown their account balance after trial 6 but did not withdraw or transfer their funds. In line with the realization effect, non-problem gamblers significantly reduced the amount bet on the next trial after cashing-out. However, realization did significantly curb loss chasing in the at-risk or high-risk groups. We conclude that the realization effect can be elicited in an online gambling context, but that stronger interventions for realizing losses may be required for those with symptoms of disordered gambling.

Date: 2023-08-31
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:m9kpe

DOI: 10.31219/osf.io/m9kpe

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