Psychology of Gambling Explained

Gambling is a widely practised act. A study shows that at least 80% of all adults in the UK must have gambled at some point. Although the survey doesn’t pay close attention to the amount each adult spends on gambling, it just goes to show the popularity of the activity – either as a form of entertainment or as a means of making some quick cash.

Platforms like betting.co.uk also play a key part in promoting gambling by reviewing bookmakers and offering betting tips. Meanwhile, they’re not the bad guys; they merely operate as a mediator and don’t directly entice you to gamble.

Why People Get Addicted to Gambling

If it were just a simple activity, perhaps it wouldn’t be much of a worry, but consistent gambling can lead to addiction – which is where the real problem begins. A study shows that while gamblers are waiting for odds or a bet to play in their favour, the brain releases dopamine – the same neurotransmitter released during enjoyable activities like sex, eating, and highness from drug abuse, etc.

The excitement and drive gamblers get when a bet goes in their favour or even when they’re waiting can make them want to relive the moment. Unfortunately, in some cases, the gambler gets hooked and always wants to relive the moments – thus becoming addicted to gambling.

Psychology behind Gambling

Gambling is an intriguing psychological phenomenon. There have been many pieces of research that prove that gambling can be addictive. However, there aren’t many studies to get into a gambler’s head – we can only speculate why they take specific actions and believe in certain things. Here is some interesting observation about the psychology of a gambler.

• Bias Expectations in Winning

The biased nature of gamblers is often prevalent whenever they place a bet. In a football game, before betting on a team, it’s normal to see everyone, including a gambler, give each team an objective review as to who is more likely to win the match. However, this changes when they place their bets on a particular team. They now develop a level of new commitment to the team they put their money on – an impulse action to give them more optimism.

• Bandwagon Effect

The bandwagon effect is much like peer influence, but this happens on a much larger scale. When the lottery jackpots reach a record level, they get a lot of attention from the media and trigger a rush of ticket buying. Most people, even those who haven’t gambled before, want to be part of the action – thus, they get their tickets. Perhaps we could blame the media for playing a role in this, but we can’t discredit the fact that it is an innate impulse that pushes people to get their tickets.

• Gambler’s Fallacy

Gambler’s fallacy is a psychological phenomenon where a gambler believes that if an event repeatedly occurs, the probability that an alternate event is about to occur increases. However, this perception is flawed because the likelihood of one event happening over the other at any given time is always the same. We see this common among roulette players; after seven red numbers appear in a row, they automatically believe the following number will be red.

Gambling Systems and Superstitions

Gambling involves picking the results of a random event. However, many gamblers believe they can get an edge in the system by using a specific model or ‘cheat code’, as many call it. While they’re wrong, here are some popular gambling systems and superstitions.

• Trying to formulate a pattern in random numbers – when there aren’t any.
• Using ‘hot’ slot machines or avoiding ‘cold’ The idea is that playing on a hot machine that hasn’t paid a jackpot for a while increases your chances of winning the jackpot as it’s due to pay.
• Carrying out a ritual before playing a bet to help with luck for winning.
• False perception of control – gamblers think they can hone and implement skills to become profitable in a game that is purely by chance.

Many addicts never admit to their addiction, and gamblers are no exemption from the bunch. They slowly go from winning to losing, then desperation, before hopelessness, before they’re ready to consider seeking help. While that’s the case, treatment of gambling addiction through the development of mental health will only work if the gambler is prepared to comply.