Gambling is a global phenomenon that has remained a puzzle in behavioral science. In as much as many gamblers know that the odds are never in their favor, it doesn’t stop people from showing up in a casino, staking their money, losing, yet still coming back the next day or weekend to try their luck once more. Puzzling! Isn’t it?
As we seek to look into the statistics in gambling, LISTCRUX has also delved a bit into the motivations behind gambling as this is part of what informs the statistics. Here are the 2 main motivations we found out.
People have a desire to make money using the least effort
The number one reason a gambler goes to a casino is to make money. The fact that you can stake some money, play for a few hours and possibly double, triple or even quadruple your money sounds like a good proposition. In as much as it never plays out this way for most gamblers, the feeling that they will pull it off next time keeps them going back for more. It’s for this reason that casinos and other gambling establishments will run lots of ads dangling jackpot opportunities with the intention of roping in more players into their casinos.
The adrenaline rush gained from gambling
Gambling is often a high stakes game. The fact that a player is always a few moves away from potentially making money that will transform their lives results in an unexplained adrenaline rush that never goes away despite a player not achieving the big win they had anticipated. It’s the search for this rush that keeps players going back for more and even turning their gambling into an addiction.
Ultimately the fact that gamblers feel that ever player in the casino has an equal opportunity of winning makes it much more attractive. It brings about a level of uncertainty and unpredictability that makes gambling thrilling and very difficult to stop once you start.
Feel free to share with us your gambling experiences especially your motivations to gamble.
Every gambler wants to win. This is the bottom line when it comes to gambling. Whether you’re doing it online or at a brick and motor casino, your main motivation is to make money. However, many gamblers rarely win, this is the reason why there are many casinos still in business today.
As a gambler, before you learn how to win, you need to learn what affects your chances of winning. Here are the 3 main reasons why you rarely win.
The casino has to maintain its profit margin
The gambling industry is big business world over. This industry is believed to rake in at least $100 billion annually. Keep in mind that these are only figures reported by registered casinos. What about the unreported revenue? All this money is made from what gamblers lose when they stake their money hoping to win big. The honest business truth is that if gamblers registered more wins, then casinos would run out of business. It’s this huge revenue potential with great profit margins that inspires investment in the industry.
The odds never favor you the gambler
We all did math in school and we are familiar with the concept of probability. When in a casino, every game you play has odds that never favor the player. The probability of you winning is always very low and this is not a secret. In fact, this chase for the big win which is always out of reach is what draws gamblers into the casino with the hope that they will be the exception to the rule.
The house advantage
This is related to odds. As a rule, the house will always have the advantage over the player in any gambling game. This means that you are more likely to lose your money in a casino than make it because casinos invest plenty of money in putting up measures to ensure they don’t lose and if they do, it’s an acceptable loss. This means that the number of people who actually win big, pale in comparison to those who lose.
Keep in mind that these factors don’t mean you can’t win, they just mean it’s much harder for you to win however with good practice and a good strategy, you can tip the scales in your favor.
Feel free to share with us your gambling experiences and how you have overcome the house advantage.