Psychology of Betting – Reasons for Gambling

There are different reasons for gambling. Some customers prefer spending time in a relaxing atmosphere while others look for steady cash. Casinos are amazing places where you can see glamour attached with luxury and entertainment. If you want to reveal more about the psychology of gambling, make sure to read this review.

Photo by Matheus Bertelli

 

Control Illusion

When we play casino games, we think that we can control the outcome of the chance. Some players place high stakes as they prefer a sudden feeling of excitement. People gamble more often when they believe in a positive outcome. There are two contributors to gambling illusion: close misses or general choice.

 

Close Misses

Close misses could be so frustrating for casino gamblers. For example, you can be near the jackpot prize but end without it. Another example would be getting a number which is next to yours on lottery ticket…. These situations may create a control illusion and lead to wrong decisions.

 

General Choice

Players make choices – whether they want to spin the roulette wheel or select lottery numbers. Personal choices lead to prolonged gambling activity. Casinos are aware of that so they let players choose from a variety of options.

 

Winning as Natural Booster

Many people choose to gamble as a natural booster. Players want to take a risk and increase the level of excitement. Gambling addiction resembles drug addiction and leads to similar neural situations. People like anticipating the final result of the game as it boosts adrenalin and contributes to overall enthusiasm.

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Gambling Misconception

People have wrong expectations from casinos due to gambling fallacy. Players believe that they have better winning chances because of previous outcomes. For example, some customers have a false idea that they should place simultaneous bets on roulette (either black of red pocket) in order to win. The reality is completely different – you cannot expect the winning outcome even if you place 100 wagers on the same roulette outcome.

 

Loss Aversion

Casino players have a positive nature. They believe in the positive outcome of the game and place regular bets. Some studies have shown that woman have problems to lose in front of other users. For this reason, they choose private games including slots. Males, on the other side, count on skill games where they can apply strategical decisions like poker. The male population has a different perspective to gambling losses – even if they lose several times in a row, they believe that they can afford.

 

Social Side of Gambling

People look for social interaction in casinos. Whether they visit brick and mortar places or live dealer options, they look for the same thing – interaction with other players. Going to the casino help people to change the routine and to relax from a stressful life.

 

As you can see, there are various psychological factors related to gambling. Some individuals want to boost adrenaline. Some people want to obtain financial gain and they see casinos as a valuable opportunity. Last but not least, people spend time at casinos due to the glamorous image shared in the media. When we mention casinos, it seems that everyone wants to become part of the gambling community. Casinos are a synonym for entertainment, prestige, and money and people are simply enthusiastic about that.

markmunroe

markmunroe

Founder, CEO at Addicted
Mark Munroe is the Creator and EIC of ADDICTED. He's ADDICTED to great travel, amazing food, better grooming & probably a whole lot more!
markmunroe
markmunroe