Nexus Between Financial Technology and Investment Decisions among Youths Involved in Sports Betting in Nairobi City County, Kenya
DOI:
https://doi.org/10.70619/vol4iss8pp46-59Keywords:
Financial Technology, Investment Decisions, Youths, Sports BettingAbstract
Purpose: Increased access to technology and the widespread use of technology devices in Africa have created new opportunities for sports betting that were not previously available. Sport betting has taken off among Kenya’s youth population, who are mostly sports lovers. Poor investment decisions among the youths have led to these youths suffering huge losses. This study aimed to ascertain how financial technology influences the investment choices made by young people in Nairobi City County, Kenya who bet on sports. This study aimed to specifically investigate how data-based services, mobile services, and digital platforms affect the decisions of young people who bet on sports.
Methods: Prospect theory, technological acceptance theory, and heuristic theory applications were used to support this study. The study employed a descriptive research design and target population was 302,540 young people who wager on sports. In this study, 384 young people were sampled using a basic random sampling technique. Primary data was collected using a questionnaire and analyzed using correlation and regression analysis.
Results: The study found that among young people who bet on sports, data-based services, mobile services, and digital platforms had a positive and significant impact on investment decisions.
Conclusion: The study concluded that financial technology has a significantly positive effect on investment decisions among youths involved in sports betting in Nairobi City County, Kenya. It is imperative for policymakers overseeing sports betting organizations to establish laws that facilitate the establishment of social media accounts by betting companies that effectively and efficiently disseminate information about sports bets. The government needs to lower the data subscription charges to allow the youths to place their bets. The management of sports betting organizations should keep funding mobile money technologies.
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