Why Gamblers Are Tempted to Risk More While Gambling

Despite being on the losing spree, the people might gamble more with the hope that they will win the next game. Even the sweet memories of the past victories force the people to play more. A recent study has revealed this trend. The authors of this study have published the outcome of this study in the Journal of Experimental Psychology. In this article, we would be looking at the interesting findings brought out by this interesting study.

Recent Study

The study found that people chose to go in for further plays when the scientists reminded or primed them of past winning outcomes. It has found that people were over 15% more likely to play more by selecting the risky option. The research team from the University for Warwick in Britain believe that memories of the people play a crucial role in making certain decisions. When the team interviewed people who are in the habit of gambling, they found that subtle cues about the past victories play a significant role in propelling them forward to gamble more. This is clearer in people who go for gambling in local casinos. The gamblers even place millions of dollars in cash on the table for the final showdown in some poker tournaments with the hope that they would win in the next game.

Hypothesis
The researchers had come with the hypothesis that memory of winning outcomes in the past forced the people go for more gambling in casinos and risk lots of money on the table. The results of the study more or less confirm the roles these cues play in forcing the people to play more, risking their money. In order to cross check the hypothesis, the researchers manipulated the memory of the participants for past winning outcomes with simple risky choice tasks. The researchers achieved this by asking the participants to select one of the two doors as part of a computer test.

Testing Technique

The authors of the study gave the participants the choice of four coloured doors to select from. Three of the doors always led to guaranteed outcomes (0, 40 or 80). On the other hand, the fourth door led to a risky 50/50 outcome that carried 20 or 60 points. Later in the study, the team members reminded the participants about their past winning or losing outcome based on the points that they got, depending upon the door they opened. When the team members told the participants about the points they had got, they tended to go towards the risky door more often.

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Young Gambling

Although problem gambling has been primarily thought of as an adult behavior, recent research has suggested that it remains a very popular activity amongst both children and adolescents.

Studies conducted over the past decade suggest that gambling activities remain particularly attractive to today’s youth and that its popularity is on the rise amongst both children and adolescents. Prevalence studies conducted in the United States, Canada, New Zealand, Europe, and in Australia all confirm the rising prevalence rates of youth involvement in both legal and illegal forms of gambling. While approximately 80% of High School students report having gambled for money during the past year, 4-8% of adolescents presently have a serious gambling problem with another 10-14% of adolescents at-risk for developing a serious gambling problem (Jacobs, 2000; National Research Council, 1999; Shaffer & Hall, 1996). Yet, for most parents and teens, gambling is viewed as an innocuous behavior with few negative consequences.

Gambling Only for Over 18s

Most sportsbooks will be very cautious when opening accounts, and also when placing bets by phone. Most of them will check if an account is being used by a minor or ask for a proof of age, but for online sports betting becomes really difficult for a Sportsbook to know if an account is being used illegally.

There is a couple of ways to prevent your children from gambling, and it’s called Parental Control Software, sure you have heard of them Net Nanny, Spy Parent, Cyber Sitter, Control Kids are just a few of them. These programs will stop theme related pages from displayed in your computer if the parental lock is activated. Please be sure to check them to keep your children safe from youth problem gambling.

The good thing about them also is that they will stop your children from viewing any inappropriate content, ranging from online gambling to adult sites.

Gambling Facts – It’s More Than Numbers

If you are one who thinks gambling is a new activity that blossomed in Las Vegas in the 20th century, you may need to brush up on your gambling facts. To get a good idea of how large the gambling story is, try going back a couple of thousand years. You’ll see that games based on chance and the roll of dice have been always been a part of human history.

Not only did the Chinese and other populations enjoy gambling and games of chance, many Native American groups engaged in such activities long before the modern casino. Add to this the varieties of gambling carried around the world by European explorers and you have a global phenomenon of challenge and excitement. Here’s a starter fact – lotteries have even been used to raise funds for public construction projects.

o If you see 100 people on the street in a day, it’s a pretty safe bet that about 65 of them have placed a bet or made a wager in the past year.

o By many counts, profits in gambling casinos worldwide amount to $30 billion annually. Various studies report that Native American reservations host nearly 300 casinos.

History of gambling facts: The state of Nevada legalized gambling in 1931. New Jersey was the second state to make gambling legal (1976). South Dakota and Iowa followed in 1989.

o While casinos have operated in Nevada since the 1940s, the state created its Gaming Commission in 1959.

One myth that seems reluctant to die is that online gambling is not fair to players, because of casino control, less-than-random numbers and so on. Essentially, this is false. Safe-gaming software, eCommerce Online Regulation and Assurance (eCOGRA) and various licensing countries have eliminated much of the insecurity and unfair play. The myth may soon turn into one of the many Internet gambling facts.

o Casino style games are by far the most popular activity online, outnumbering sports betting 2 to 1. Lotteries and pari-mutuel betting are far down the list in percentage of online gambling activity, as are real-time online poker rooms.

o The Interstate Wire Act, passed in 1961, is a federal law that had the goal of reducing gambling activity. The law states that it is illegal in the United States to use wire communication (such as telephone) to place bets or share gambling information.

Interesting Gambling Facts: Sixty percent of online gamblers use English as their primary language. Second in line is Russian. Germany takes up position number three, according to a survey by Inland Entertainment Corporation. As for age, the numbers are close, but those between 26 and 34 play a bit more than others. One out of every five players is over the age of 45.

o In addition to online casinos, some of the most popular varieties of Web/Internet gambling are lotteries, sports books (wager on football, rugby, baseball etc.).

o According to a 2007 story in USA Today, the Venetian Macao casino was the largest in the world (on the southern tip of China). Foxwoods in Connecticut is also advertised as the world’s largest casino.

Very Interesting Gambling Facts: Video slots are generally considered the most popular online casino game. Roulette is one of the hardest games to win, while casino poker is often considered one of the easiest (with a little skill). If you can learn to count cards, you can move blackjack to the top of the “easier” list.

o There are 24 possible number combinations when a pair of dice is rolled.

o In 2003, a man won more than $39 million in a slot payout, after putting about $100 in. In 1997, a woman won $12 million in one payout.

Even More Interesting Gambling Facts: Gambling is technically legal in nearly every state, in some form. Other than the Wire Act mentioned earlier, there is little federal regulation pertaining to gambling by an individual.

Do some of your own research on gambling facts. Learn more about gambling history and surprise your friends with your knowledge of gambling statistics. It’s challenging and fun!