The Paradox of Gambling behavior

[fiulpro]

One might already understand that winning at Gambling is hard but at the end of the day we still see a lot of people increasingly interested in Gambling, this might provide an insight into the casino business and at the same time help explore the ideas 💡 in the mind of a Gambler.

One might be aware of the fact that even though the Gambler knows that he is loosing money they measure the gambling to be an effective usage of that money, a leisure activity to begin with therefore it's more concerned with the activity-than winning an idea that some problem gamblers ignore.

Source :here

In roulette type games more than 95% of the amount is usually back to the player but when we talk about lotteries it goes way below 50% which is explained by the lower levels of winners and winning as a whole despite that lottery is some of the biggest revenue collector for the government. The players usually focuses not on winning big, but most of the time the short increase of dopamine makes their money worth it ( ofc if used in moderation)

What do you think is the best game/ sports to gamble on ? Do you do it for winning? Are the ideas in the article according to you correct? How many times you usually win in a game of chance+skills?

[1715574691]

1715574691

[1715574691]

1715574691

[Rruchi man]

One might already understand that winning at Gambling is hard but at the end of the day we still see a lot of people increasingly interested in Gambling..

Almost everyone like to feel like they have a better luck than the next individual,so regardless of the numerous individuals that they hear their story that they lost at gambling, so far there is still that one person that they hear won, the delusion that you can be as lucky as that individual set's in.

One might be aware of the fact that even though the Gambler knows that he is loosing money they measure the gambling to be an effective usage of that money, a leisure activity to begin with therefore it's more concerned with the activity-than winning an idea that some problem gamblers ignore.

The idea that you can one day win back all the money you habe lost keeps the gambler going.

What do you think is the best game/ sports to gamble on ? Do you do it for winning?

I personally love sports betting and bet on football, i hope to win while supporting my favourite teams.

[fiulpro]

One might already understand that winning at Gambling is hard but at the end of the day we still see a lot of people increasingly interested in Gambling..

Almost everyone like to feel like they have a better luck than the next individual,so regardless of the numerous individuals that they hear their story that they lost at gambling, so far there is still that one person that they hear won, the delusion that you can be as lucky as that individual set's in.

One might be aware of the fact that even though the Gambler knows that he is loosing money they measure the gambling to be an effective usage of that money, a leisure activity to begin with therefore it's more concerned with the activity-than winning an idea that some problem gamblers ignore.

The idea that you can one day win back all the money you habe lost keeps the gambler going.

What do you think is the best game/ sports to gamble on ? Do you do it for winning?

I personally love sports betting and bet on football, i hope to win while supporting my favourite teams.

That's great!
Sometimes the favorites of you can also be the death of you therefore you have to be really wise and I know no matter how sad you might feel to bet against them sometimes you have to!

At the same time the algorithm of many games are designed in such a way that after consecutive loosing they will give the player one win so that the player continues to gamble and these winnings are placed meticulously around the clock so that they have the idea that they are winning but at the end of the day, the house never looses and whatever money they make is ofcourse going to be lower than what they invested in as well.

Therefore players must be really  careful while dealing with casinos like that since it's great to recognize early and to change the particular casino, onto a better and fair site.

[dimonstration]

Sports betting is the best game to gamble if you want an organize betting experience since this a slow phase game and human greediness is usually less to occur during betting Selection. In my experience, I typically become greedy if my original bank roll was reduce to a certain percentage. Let’s say I have 100$ bank roll and my normal bet was only 1$ to 2$ only but I lose 25% of it, I typically don’t feel fear on betting huge amount just to chase my loss and this always the cause of all my gambling losses. I typically win 40% of all my gambling session after I do a tally on all of my games on every Casino that I’m using. It’s so bad to reminisce all the money that I lose due to my greediness.

[mindrust]

In roulette type games more than 95% of the amount is usually back to the player but when we talk about lotteries it goes way below 50% which is explained by the lower levels of winners and winning as a whole despite that lottery is some of the biggest revenue collector for the government. The players usually focuses not on winning big, but most of the time the short increase of dopamine makes their money worth it ( ofc if used in moderation)

What do you think is the best game/ sports to gamble on ? Do you do it for winning? Are the ideas in the article according to you correct? How many times you usually win in a game of chance+skills?

Roulette is better than lotteries because they have a lower house edge. Lotteries, especially the government backed ones are a major scam. It is just another form of taxation. You should never ever participate in any government lotteries. Most of the money goes to the politicians and only a little of the total amount returns to the participants.

[Welsh]

Whatever sport you enjoy the most, that way you're getting a bit more bang for your buck. Betting has made matches/fights I wouldn't normally be that interested in, quite excited. Obviously, only if done in moderation, as that can quickly become out of control. So, as long as you're disciplined I say the sports that you're already watching now.

That way you should already have a good base line knowledge of the game, and the strengths, and weaknesses of each team/fighter.

[Distinctin]

The best game to gamble is the game that you enjoy, that's the first thing you should put in mind as it's very important for you to love what you are doing. Gambling is not about winning only, it's also about getting entertain, but since we are talking of chances, gamble on games that has a low house percentage and in my case I go for sports betting.

[BitcoinGirl.Club]

One might already understand that winning at Gambling is hard but at the end of the day we still see a lot of people increasingly interested in Gambling, this might provide an insight into the casino business and at the same time help explore the ideas 💡 in the mind of a Gambler.

The house always wins. In casinos the games seem fair but actually there are things like winning chance etc which determines that the house will eventually make money out of it's customers.

I remember when I used to gamble I was not like I was gambling to win. Win makes you happy but this was more like an addiction. You do not feel good if you can not keep yourself busy with gambling. Your days and nights are going but you do not care about anything else but busy with gambling. It's a one way road for you. You earn money and spend there.

[Fortify]

One might already understand that winning at Gambling is hard but at the end of the day we still see a lot of people increasingly interested in Gambling, this might provide an insight into the casino business and at the same time help explore the ideas 💡 in the mind of a Gambler.

One might be aware of the fact that even though the Gambler knows that he is loosing money they measure the gambling to be an effective usage of that money, a leisure activity to begin with therefore it's more concerned with the activity-than winning an idea that some problem gamblers ignore.

In roulette type games more than 95% of the amount is usually back to the player but when we talk about lotteries it goes way below 50% which is explained by the lower levels of winners and winning as a whole despite that lottery is some of the biggest revenue collector for the government. The players usually focuses not on winning big, but most of the time the short increase of dopamine makes their money worth it ( ofc if used in moderation)

What do you think is the best game/ sports to gamble on ? Do you do it for winning? Are the ideas in the article according to you correct? How many times you usually win in a game of chance+skills?

I think everyone always like to explain things away in little categories, trying to make everything neat and tidy, but the reality is there are so many variations of gambling behavior it is impossible to group them in such a convenient way. There will be gamblers out there who simply do not understand the math that is against them or refuse to accept it. There are gamblers out there who can spend 50 bucks a year at a special event and then never even think about it again all year. There are people who wake up every day and the first thing on their mind is where they can get more money to chase their latest sure-fire bet, which could dig them out of a massive financial hole. There are poker players out there who have honed a skill over many years, multi-tabling while scraping a small but consistent profit each day that rivals a full time salary. This study might have some insights but nothing applies to everyone.

[Kasabus]

The best game to gamble is the game that you enjoy, that's the first thing you should put in mind as it's very important for you to love what you are doing. Gambling is not about winning only, it's also about getting entertain, but since we are talking of chances, gamble on games that has a low house percentage and in my case I go for sports betting.

Of course, its not just all about money in gambling, but also the level of entertainment that we also need to experience. Otherwise, if you don't enjoy the game, the interest will not grow at all. This why some gamblers often lose because they focus on the bets alone, not the experience itself. However, when asked about the best game to gamble, yeah i think sports betting specifically in NBA as there is high probability to win if you know the best team to bet.

[stomachgrowls]

The best game to gamble is the game that you enjoy, that's the first thing you should put in mind as it's very important for you to love what you are doing. Gambling is not about winning only, it's also about getting entertain, but since we are talking of chances, gamble on games that has a low house percentage and in my case I go for sports betting.

Of course, its not just all about money in gambling, but also the level of entertainment that we also need to experience. Otherwise, if you don't enjoy the game, the interest will not grow at all. This why some gamblers often lose because they focus on the bets alone, not the experience itself. However, when asked about the best game to gamble, yeah i think sports betting specifically in NBA as there is high probability to win if you know the best team to bet.

Gambling is for entertainment honestly but people do really end up on playing on it because on making money or profit which most of the time it would really remove out the true essence of entertainment

which supposed to be the main reason on why you do make out some bets.Lets just accept the fact though that people do come after about on making money and next would be that entertainment that
i do say.We do have different mindset and impression towards gambling thats why we do really act according on what we are trying to attain.

[BitcoinGirl.Club]

Of course, its not just all about money in gambling, but also the level of entertainment that we also need to experience. Otherwise, if you don't enjoy the game, the interest will not grow at all. This why some gamblers often lose because they focus on the bets alone, not the experience itself. However, when asked about the best game to gamble, yeah i think sports betting specifically in NBA as there is high probability to win if you know the best team to bet.

I don't believe many people gamble for entertainment. They start it with fun but then when they keep continuing it they become addicted to it slowly. Very few people are good at controlling emotions. May be the Chinese guys understood the art LOL. I know many Chinese guys who takes it as profession but the number is very small. I have seen people to lose their everything and now they just live for bread and butter because of bad gambling habit.

Gambling is fun as long as you are enjoying it. One should stop it whenever they will identify that they need it to entertain. That's when you are becoming addicted to it. I am more into sports betting by the way. I think it fairer than casino games.

[Falconer]

I don't believe many people gamble for entertainment. They start it with fun but then when they keep continuing it they become addicted to it slowly. Very few people are good at controlling emotions. May be the Chinese guys understood the art LOL. I know many Chinese guys who takes it as profession but the number is very small. I have seen people to lose their everything and now they just live for bread and butter because of bad gambling habit.

I think this opinion can be justified based on my personal experience and some other users' experiences. At first gambling was played for fun, to fill spare time, try a little luck but in the end we had to be willing to spend more money because of addiction.

I don't know why with China, but maybe they are the ones who don't like to gamble at casinos especially for luck based games? But I could be wrong. Lol

What do you think is the best game/ sports to gamble on ?

I don't know which one is best for other people, but I think sports betting is what appeals to me (soccer).

[Finestream]

Whatever sport you enjoy the most, that way you're getting a bit more bang for your buck. Betting has made matches/fights I wouldn't normally be that interested in, quite excited. Obviously, only if done in moderation, as that can quickly become out of control. So, as long as you're disciplined I say the sports that you're already watching now.

That way you should already have a good base line knowledge of the game, and the strengths, and weaknesses of each team/fighter.

If you aim to  win from a bet and at the same time get entertained, then see to it that you are betting in a game where you are already familiar and of high interest. Its useless to bet if you are not enjoying it because you also don't have knowledge on the game in the first place. I prefer to go on sports betting because i know some of the games, and i see more chances to win betting in most of your favorite teams.

[Maus0728]

What do you think is the best game/ sports to gamble on ? Do you do it for winning? Are the ideas in the article according to you correct? How many times you usually win in a game of chance+skills?

Here are my hot takes:

Slots - best to play IF and ONLY IF:

• the slot game have a high RTP (most preferably greater than 95%);
  
• you are more onto enjoying the visuals and wants watching your profit grow even if you bet low (hence earn slow)
  
  Roulettes - best to play IF and ONLY IF:
  
• you want your money to earn with mid chance and profit by taking less than 20% chance to win
• you enjoy watching whether you win  by certain percentage or lose your bet

Blackjack - best to play IF and ONLY IF:

• you love betting at high stakes and good at card counting
• love to take risk of having the minimum 50% chance of winning

Sportsbetting - best to play IF and ONLY IF:

• you are fond of the sport/s you will bet on
• you are more entertained / enjoyed with the game itself than to risk it in RNGs

People were just attracted in gambling because they love to take the risks and feel the enjoyment of winning despite the risks involved. Sometimes, people just tend to enjoy positivity when it came with the risks beforehand than winning with nothing to lose at all.

[uneng]

The description of the book 'Paradoxes of Gambling Behaviour' on the link provided by OP, indicates gamblers are victims of cognitive illusions, that make them feel like they can overcome the house, despite the low winning probability chances.

I disagree a little bit with that, because it will depend on the kind of gambler we are talking about. If someone plays without limits, he is indeed being delusional, but a gambler who plays regularly at same time he is responsible, is just using his logic to identify a potential possibility of earning a large sum of money while risking an amount he can afford to lose. There is no illusion on that, because the goal is based in a real possibility, that is attainable.

Just like some news I've been reading today. It was about a poor man elder who collects cans on the street to sell for money. He made 2$-3$ from his sales and bought a lottery ticket for about 1,50$ and has managed to win 2,000,000$. Was he being delusional? I don't think so... At least, not by that moment. Sadly the story hasn't continue well, as the elder made a partnership with an acquainted, and ended being totally scammed by him.

[AmoreJaz]

The description of the book 'Paradoxes of Gambling Behaviour' on the link provided by OP, indicates gamblers are victims of cognitive illusions, that make them feel like they can overcome the house, despite the low winning probability chances.

I disagree a little bit with that, because it will depend on the kind of gambler we are talking about. If someone plays without limits, he is indeed being delusional, but a gambler who plays regularly at same time he is responsible, is just using his logic to identify a potential possibility of earning a large sum of money while risking an amount he can afford to lose. There is no illusion on that, because the goal is based in a real possibility, that is attainable.

Just like some news I've been reading today. It was about a poor man elder who collects cans on the street to sell for money. He made 2$-3$ from his sales and bought a lottery ticket for about 1,50$ and has managed to win 2,000,000$. Was he being delusional? I don't think so... At least, not by that moment. Sadly the story hasn't continue well, as the elder made a partnership with an acquainted, and ended being totally scammed by him.

i believe gamblers who are into sportsbetting for me are not considered delusional. because if you know very well the sports, you are aiming to win on your bets. however, if you are a gambler, who is mostly addicted in luck-based games, and yes, believing that you can beat the house, you're being delusional.
but that story that you just mentioned, is a sad story showing that you can't trust a person even if he is your friend or acquaintance, when it comes to money.

[DoublerHunter]

The best game to gamble is the game that you enjoy, that's the first thing you should put in mind as it's very important for you to love what you are doing. Gambling is not about winning only, it's also about getting entertain, but since we are talking of chances, gamble on games that has a low house percentage and in my case I go for sports betting.

^ This was what I always heard from people who lose from gambling, but for me, no one will waste their money out there just to have fun and I don't know if we will get entertained very well in gambling when we talking on the fun. I believed those people who keep doing gambling like in the lottery that you need to spend a little amount to gamble but if you are very lucky it has surely a high return. Possible for people who gamble just for the purpose of making money is they will go on sports betting or those games that we could apply luck+skills. However, each of us has a preference for what we like.

[decodx]

What do you think is the best game/ sports to gamble on ? Do you do it for winning? Are the ideas in the article according to you correct? How many times you usually win in a game of chance+skills?

The best game to gamble on is the one that you are passionate about. If you can get excited about playing a game, then you will have a lot of fun when betting on it. Find the game that you enjoy, and learn more about the game, and bet on that. Do you love football? Go play it, bet on it, and enjoy it. If you are a soccer fan, you could probably bet on that, too. Find what you love, and you will most likely have fun when gambling on it.

I am not a gambler who bets to win, although I may go long on some games just to have fun. I am a gambler who bets because I enjoy watching and playing the game, and I would like to have more fun when playing. I usually win once in a while, but it isn’t a high percentage for me.

[khaled0111]

At the same time the algorithm of many games are designed in such a way that after consecutive loosing they will give the player one win so that the player continues to gamble and these winnings are placed meticulously around the clock so that they have the idea that they are winning

If the casino is intentionally doing this then you should avoid them at all costs (as you suggested). They are practically manipulating the results which is unfair and deceiving. In a fair game, the result of each round is supposed to be independent of the previous oneeven if this results in a very long losing streack.
The house always win on the long run because of the house edge. If a player hits the jackpot or makes a big win the money he won is what other players have lost / will lose.