Why Is Gambling Never Going To Lose Popularity?

Gambling has been a part of our civilization and cultures for thousands of years, irrespective of the geographic location or country. We have come across countless references to gambling, ranging from mythology, folklore, and even literature and historical documents. Even in the modern world, gambling has made a secure place by the efforts of people. People commonly believe that people lose more in gambling than they actually win. Things like free spins no deposit Australia casino bonuses and other rewards also don’t compensate for the amount people lose. 

So, why do people gamble even after losing so much? What fuels their gambling addiction? Let’s try to find that out in this article.

Gambling – a Boon Or a Curse?

As the people who don’t gamble might consider it a curse to society, it is somewhat different for those who gamble. In fact, it is quite difficult to explain in layman’s terms. It is not like the gamblers find it necessary for society. But it is more of their personal preference than any social act. 

The medical sphere concludes gambling as any other addiction. Moreover, gambling addicts often show the same type of behaviour and actions associated with other addictions, such as withdrawals. Any addict will consider one last hit before finally quitting. It works the same way for gamblers.

It is not hard to find evidence of gamblers trying for one last time to win big – be it money or more gambling opportunities. And, in that process, they slowly keep losing their savings, assets, and whatnot. There are reports of gamblers mortgaging their houses or land for the purpose of gambling, hoping that they would win everything back. But unfortunately, that seldom or never happens.

Most people go to offline casinos or prefer gambling over online gambling servers. These servers or platforms offer other services such as sports betting and staking along with common gambling games like poker, blackjack, etc. Most casinos arrange the games so that they always have the edge over the customer. It means that the casino will always win more than the gambler. That’s the way casinos get richer, and most gamblers fail to beat the system and end up losing. 

Gambling Addiction – How Bad Can It Be?

Gambling addiction has shown some striking behavioural observations among addicts. 

Financial Loss

The trait of winning big and keeping on spending for that adds up and becomes a great deal of financial loss for people. People have sold items, furniture, and even properties to fuel their gambling addiction and yet will continue to do so to keep gambling. It is like, they can’t stop betting, even if they surely know that they’ll lose. 

Irresponsible Attitude

There have been reports of people admitting that they wanted to gamble all the time – forgetting all the responsibilities one can have towards their job, family, and society. Another person admitted to causing a fraud of $100 million to fuel his gambling habit. The person testified in court that it was just a way for him to keep his addiction alive. 

Gambler’s High

Most gambling addicts have quoted about a certain ‘high’ or rush that gambling brings them. Although that is true for more common addictions such as alcohol and other drugs, the type of ‘high’ a gambler experiences is a little bit different. 

Besides, when the loss to reward ratio is so low, why do people feel compelled to spend even the last dime? If a person is destined to lose money or their entire fortune, even jobs and houses, how does that gambling ‘high’ outweighs the losses and sacrifices? The answer is hidden in human psychology and behaviour. 

Gambling – for Winning Money, Or Just for the Sake of It?

Almost all people start gambling looking for extra income or earning a fortune. It is not why people keep doing it. Mark Griffiths, an eminent psychologist, points out this striking finding that a small number of people keep gambling just to win money. He points out that if you want to make money, then you would not bother losing more than you can afford or possibly earn in gambling. In simple words, these people have a loss threshold. So they stop gambling once they have lost that much money they can afford to lose. 

However, the gambling machines and casino games are set in such a way that they will keep you hooked on the game. The easiest way to do that is through bonuses and small winnings. So, after you lose a chunk of your money, the game lets you win a small amount. So you may think that you have started winning. This act will keep you from spending more money on gambling. The system thrives on human curiosity and nature and makes you believe that you can win big money. 

The gambler’s ‘high’ that we came across earlier works on that principle, capitalizing on the sphere of uncertainty. As a gambler places bets, they believe that this might be the round that will change the course of their gambling journey. It releases adrenalin and endorphins, which results in that ‘high’. This is because many addicts have admitted to gambling as ‘fun’ and ‘exciting.’ The ‘high’ or excitement doesn’t have a co-relation with wins or loses, as there have been studies that have revealed that gamblers still experience the excitement after losses. Many people have admitted that although they lost quite a lot of money, it did not have any negative effect on their overall gambling experience. 

Another Kind of Law of Diminishing Returns

• People more often will lose money than they win. With each bet they place, and each round they lose, the thirst for winning can get only higher. Many people put a lot at stakes, so they don’t get turned off easily when they keep losing small amounts of money. 
• However, as a gambler keeps losing money, the winning expectation also decreases. So, the system letting them win once or twice will make them very excited even if the amount is not financially significant, comparing the losses. 
• It has also been pointed out that building in many little rewards that are not necessarily financial will keep getting responses from people. The end result is people coming for the money but staying for the sake of gambling, for the ‘high.’ This is how people get pulled towards gambling. 

Conclusion

It doesn’t matter if you win big or lose a great deal. As long as the things that go on psychologically and the gambling system capitalize on that to lure people into spending more, gambling would remain popular. Some things may not necessarily be good, even if it’s legal. So, it is best to be very cautious and gamble responsibly without taking financial risks. 

Not writing by the redaction