A collaborative study conducted by the University of Eastern Finland and the University of Liverpool has uncovered that Finnish men with higher IQs are more inclined to engage in skill-based gambling activities, particularly horse racing. Published in the Journal of Behavioral Decision Making, the research highlights that these men are not only more frequent participants in horse racing but also prefer more complex betting strategies and tend to invest larger sums of money. This pattern suggests that skill-based gambling might satisfy an intellectual curiosity or provide a complex problem-solving challenge, appealing particularly to those with higher cognitive abilities.

The study utilized data from over 15,000 Finnish men who had previously taken an IQ test as part of their compulsory military service with the Finnish Defense Forces. This data was cross-referenced with detailed records of their online gambling behaviors, along with socioeconomic data from Statistics Finland, which provided additional insights into their income levels and educational backgrounds. The comprehensive nature of this data allowed for a robust analysis of the links between IQ and gambling habits, highlighting a clear trend among those with higher IQ scores.

Professor David Forrest of the University of Liverpool Management School noted the significance of these findings, emphasizing that while the correlation between high IQ and skill-based gambling is strong, it does not necessarily extend to chance-based gambling activities such as playing slot machines. The distinction suggests that the appeal of skill-based gambling for high-IQ individuals may be the intellectual challenge it offers, similar to solving a complex puzzle or engaging in other mentally stimulating activities.

Associate Professor Jani Saastamoinen from the University of Eastern Finland likened the process of betting on horse races to solving crossword puzzles, suggesting that the analytical challenge of predicting winners is a key factor in its appeal to smarter individuals, despite the overall negative expected monetary return. This study, titled “Does IQ predict engagement with skill-based gambling? Large-scale evidence from horserace betting,” authored by Niko Suhonen, Jani Saastamoinen, David Forrest, and Tuomo Kainulainen, presents new insights into the cognitive motivations behind gambling behaviors, providing a basis for further research into the decision-making processes of individuals with high IQs.