Why People Continue Gambling Despite Losses

Wagering on roulette, poker, or even Super Bowl is a thrilling thing. With online gambling in existence, gambling has never been easier. Gamblers place bets in the hope of winning, but what baffles many fans and players is the fact that both winning and losing have a thing in common: they keep players coming back. Let’s focus on losing. Losing is a negative thing, yet it keeps players wanting to go back to the casino, place more bets, and watch their bankroll sink like the Titanic. Why? Here are the reasons:

Making up for Losses

Losing a bet simply means losing money, and when this happens, gamblers tend to chase losses in the hope of recovering what they have lost. Do they win in the long run? Unless you’re a lucky player, it usually never happens. Yes, it is good to try your luck one more time, but the odds of pulling a win are almost not there. Let’s consider a practical example: every time you spin the American roulette wheel, your odds of winning are 1/38. The odds will not change no matter how many times you spin the wheel. Hence, chasing your losses at the roulette table could amount to chasing a mirage.

Variable Rewards

Since gambling is associated with many unexpected rewards, players tend to imagine that their next wager may fulfill a need. “What if my bet gets me $20,000 in winnings?” This is a common thought that runs in the minds of many punters. With the variable rewards provided by gambling, gamblers could be forgiven for harboring such imaginations.

Getting Rich Quickly

Many people gambler because they want to get rich quickly. We’re not disputing the get-rick-quick theory, but it holds true only in rare occasions. The road to getting rich is always long and tough, and that’s why people tend to avoid it and resort to gambling. If you think you can be rich overnight, think again.

Gambling Near-Misses

As a slots player, you will more than often get two similar items in the machine, causing you to imagine that a win is very close. As a result, you will place at least a couple more bets in the hope of winning. In real sense, the odds of winning remain the same because the machines reset each time you’re placing a bet. Let no one fool you!