Psychological Gambling

Posted on 7/29/2022 by admin

Most gamblers lose. So why do people bet their hard-earned money? Find out a bit about the psychology of gambling, why people bet money and the reasons for gambling.

Gambling Psychological Intervention
Psychological Gambling Disorder
Psychological Gambling
Psychological Gambling Meaning

Most people are introduced to Gambling by playing cards with their friends and family, and its a game where a lot of laughs and feelings are shared. It is a social event, always. In a casino, you get to interact with so many people over a drink or not, that you can find the vibe very appealing. Gambling Disorder. What is Gambling Disorder? Gambling disorder involves repeated problematic gambling behavior that causes significant problems or distress. It is also called gambling addiction or compulsive gambling. For some people gambling becomes an addiction — the effects they get from gambling are similar to effects someone with alcoholism gets from alcohol.

Psychology of Gambling: Reasons for Gambling

Ok, so we all understand that gambling offers you the chance of winning money or prizes, but have you considered some of the other reasons for gambling? A look into the psychology of gambling offers insight into that question.

Why Do People Gamble? - Risk Taking

One of the reasons for gambling is that it's human nature to feel excited when taking risks and the positive feeling gained from gambling is no different. 'Will my numbers come up?' 'Will my team win?' The sense of anticipation creates a natural high, an adrenalin rush, a feeling that very many of us seek when looking for fun and entertainment. A feeling that some people believe they cannot live without.

Why Do People Gamble? - Escapism

The gambling environment can provide an escape from everyday life. Whether it be the glitzy casino environment, a loud and exciting amusement arcade or even an online betting company, for the time that we are taking part we can be surrounded by different people, different sounds and emotions, all of which stimulate and arouse our senses.

Why Do People Gamble? - Glamorous

The media and advertising agencies understand the psychology of gambling and often portray a stylish, sexy, fashionable image of gambling. In film and TV, we see characters enjoying a night at the casino or an afternoon at the races. There is often a suggestion of 'high society' and attending at 'a place to be seen'.

Why Do People Gamble? - Social

Gambling is accepted as part of this country's culture and as such is widely participated in (with varying frequency) by the majority of the population. Some young people are introduced to gambling by learning to play card games with their parents at home, maybe we go the bingo with friends on a Friday night or meet after school at the amusement arcade.

Psychology of Gambling: The Common Misperception

The above reasons for gambling all tie into this: most people think about gambling as a low-risk, high-yield proposition. In reality, it's the opposite: a high-risk, low-yield situation. The odds always favor the house. Despite that, the thought and excitement of hitting a casino jackpot are often too alluring - regardless of its probability.

Learn more about Types of Gamblers and Signs of Gambling Addiction.

Sources:

Illinois Institute for Addiction Recovery

next: What Type of Gambling is the Most Addictive and Why?
~ all gambling addiction articles
~ all articles on addictions

APA Reference
Gluck, S. (2008, December 29). Psychology of Gambling: Why Do People Gamble?, HealthyPlace. Retrieved on 2020, December 31 from https://www.healthyplace.com/addictions/gambling-addiction/psychology-of-gambling-reasons-for-gambling

Gambling has become one of the most popular pastimes for people today. Whether it’s betting on your favourite football team, playing the slot machine at a local casino, or pulling the trigger in a risky round of Russian roulette, gambling never seems to lose its appeal. It’s easy to understand why people decide to take up gambling – who wouldn’t want to earn a few extra dollars without having to break a sweat? We could even explain why a person who has already hit the jackpot decides to play again; he’s likely riding on a high and obviously has a few extra bucks to spare. But how do we explain the behaviour of those persons who continue to gamble despite consistent losses? Most of us would take the position of famous comedian, W.C. Fields – “if at first you don’t succeed, try, try again. Then quit. No use being a damn fool about it.” Yet many gamblers who have suffered great losses refuse to quit. Instead of throwing in the figurative towel, they throw in more and more resources, hoping and praying for the elusive win. On the surface this might seem irrational, but there are several psychological reasons why some gamblers never seem to get enough. Five main reasons are explained below.

1. Partial reinforcement [showmyads]

You don’t have to be a psychologist to know that reinforcement strengthens behaviour. Reinforcement may be provided on a continuous basis, such as when a child gets $1.00 every time he wins a game of Scrabble, or on a partial basis, as when a person wins at the slot machine after 6, 20, or 100 tries. As counter-intuitive as it may seem, behaviours tend to persist longer when they are partially rather than continuously reinforced, and this is a major reason why casinos are hardly ever out of business. People don’t expect to win every single time they gamble so when they encounter a loss or even a string of losses, it comes as no big surprise. It’s simply counted as part of the game. Nevertheless, gamblers do expect to be reinforced some of the time and it is this expectation, this belief that “I’ll get lucky next time” that motivates them to continue. They can never be sure which bet will produce rewards but they believe that if they play long enough their patience will eventually pay off…literally!

2. Availability heuristic

This describes the tendency of individuals to overestimate the probability of an occurrence simply because it comes readily to mind. Many people believe that plane crashes occur more frequently than they actually do, because such accidents usually receive extensive news coverage, and are therefore more easily recalled than say, car accidents. Cases of persons winning the lottery jackpot are also widely publicized, causing them to stand out in people’s minds. Gamblers might therefore overestimate the probability that they will experience similar winnings because they have vivid memories of these rare success stories. Even when the odds are against them, their faulty reasoning leads them to believe that they have a great chance to win.

3. Gambler’s fallacy

People often make the mistake of thinking that future events occurring in a random sequence will be influenced by past events. This error in thinking is very common among gamblers which explains how the phenomenon got its name. For example, if a person flips a coin 10 times and it comes up heads every time, he might reason that he will get tails on the next try because it is “overdue.” In reality, the probability of getting tails on the 11^th try is still 50% – the same as it was on each of the previous 10 tries. The gambler’s fallacy might cause persons to continue investing in a game of chance even after suffering terrible losses, because they think they are “due” for a win.

Gambling Psychological Intervention

4. Illusion of control

Although gambling activities are often directed solely by chance, many gamblers mistakenly believe that they have some amount of control over the outcome. Thus, they might blow on the dice before they throw or perform some other ritual before a game, assuming that such actions will increase their chances of winning. Since people are more likely to invest in an activity when they believe they can influence the results, the illusion of control actually encourages gamblers to persist in their efforts. As Moghaddam & Studer (1998) explain:

Chance will work in the gambler’s favor once in a while, and if success comes early then the illusion of control will be even more firmly entrenched. If gamblers start with some wins, then their estimates of their ability to beat the odds become even more inflated, often surviving a long string of losses” (p. 2).

5. Loss aversion

This refers to the fact that people are usually more sensitive to losses than to gains of equal value. In other words, the pain an individual feels over losing $100 will likely be greater than the pleasure he feels over gaining that same amount of money. As such, a person might go through more trouble to collect money owed to him than to try to win a prize of equal worth. After experiencing a string of losses, a gambler might continue to invest time and money beyond a reasonable limit, not because the potential gain is especially appealing but because the pain of past losses is agonizing. Even when gamblers are aware that they cannot possible win back all that they have lost, they often persist in desperate attempts to recover at least some of their losses.