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.
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
Gambling has become a $40 billion dollar a year industry in the United States. From 1974 to 1994-20 years-the amount of money Americans legally wagered has risen 2,800 percent, from $17 billion. Gambling might be an enjoyable pastime for some and it might provide a nice adrenaline rush when you win, but your winnings are subject to federal income tax, and possibly to state taxes as well. The IRS requires that you report the money as income, although it does allow you to claim a deduction for at least some of your losses.
Any online casino will offer bettors real money gambling options on a range of games including casino table games, slots, sports betting sites and poker rooms. When choosing a casino site, find one that offers decent casino bonuses, a wide variety of games and decent odds to maximize your chances of winning real money when gambling online.
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 2021, February 9 from https://www.healthyplace.com/addictions/gambling-addiction/psychology-of-gambling-reasons-for-gambling
Real Money Gambling Online
This compilation contains some of the best quotes we could find related to gambling, luck and money.
Since humans have existed they have gambled away their fortunes, and it is probably the fate of man to continue gambling so long as there is anything left to bet on…
Gambling and Luck Quotations
These quotations are sorted chronologically and appear quite representative of gambling as it has developed over the last 2,000 years or more…
when preparation meets opportunity.
Seneca
(ca. 4 BC – 65 AD; Roman philosopher, dramatist, and writer)
All the best gamblers do.
Baltasar Gracián y Morales
(1601-1658; Spanish Jesuit, writer, and philosopher)
our time and treasure:
two things most precious
to the life of man.
Owen Feltham
(1602-1668; English essay writer)
think of saving
as well as getting.
Benjamin Franklin
(1706-1790; American politician, scientist, inventor, and statesman)
and I find the harder I work
the more I have of it.
Thomas Jefferson
(1743-1826; American third president of the United States)
decide upon three things at the start:
the rules of the game,
the stakes,
and the quitting time.
Chinese Proverb
that it will change.
Bret Harte
(1836-1902; American author and poet)
in holding the best
of the cards at the table;
luckiest is
he who knows
just when to rise and go home.
John Milton Hay
(1838-1905, American statesman, diplomat, author, and journalist)
looks with austere disfavor
upon the business known as gambling.
Ambrose Bierce
(1842-1914; American journalist, writer, fabulist, and satirist)