MrV
MrV
Joined: Feb 13, 2010
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June 4th, 2013 at 8:11:17 AM permalink
Most people must have heard that the odds are rotten when playing slots, but that doesn't stop them.

Why are otherwise seemingly intelligent people drawn to their near-certain financial doom by these one-armed bandits?
"What, me worry?"
treetopbuddy
treetopbuddy
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June 4th, 2013 at 8:18:37 AM permalink
Quote: MrV

Most people must have heard that the odds are rotten when playing slots, but that doesn't stop them.

Why are otherwise seemingly intelligent people drawn to their near-certain financial doom by these one-armed bandits?



Intermittent reinforcement........reward the genius occasionally and they will keep coming back.
Each day is better than the next
treetopbuddy
treetopbuddy
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June 4th, 2013 at 8:37:58 AM permalink
Quote: treetopbuddy

Intermittent reinforcement........reward the genius occasionally and they will keep coming back.



Bill Bennett, Reagan's drug czar and author of many books including, "The Virtue of Morality", a smart guy, lost an estimated 8 million. He accomplished this feat by playing the 500 a pull slots. Intermittent reinforcement.
Each day is better than the next
MathExtremist
MathExtremist
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June 4th, 2013 at 8:44:23 AM permalink
Quote: MrV

Most people must have heard that the odds are rotten when playing slots, but that doesn't stop them.

Why are otherwise seemingly intelligent people drawn to their near-certain financial doom by these one-armed bandits?


The same reason otherwise seemingly intelligent people are drawn to near-certain financial (and emotional) doom by attending Mariners games. Because despite the cost, and the significant odds against you (or against the Mariners, as the case may be), it's a fun way to spend a few hours.

Except if it's opening day, the roof is open at Safeco, and it's about 45 degrees outside. That's not as much fun even with the garlic fries.
"In my own case, when it seemed to me after a long illness that death was close at hand, I found no little solace in playing constantly at dice." -- Girolamo Cardano, 1563
slyther
slyther
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June 4th, 2013 at 8:46:46 AM permalink
Quote: MathExtremist

The same reason otherwise seemingly intelligent people are drawn to near-certain financial (and emotional) doom by attending Mariners games. Because despite the cost, and the significant odds against you (or against the Mariners, as the case may be), it's a fun way to spend a few hours.

Except if it's opening day, the roof is open at Safeco, and it's about 45 degrees outside. That's not as much fun even with the garlic fries.



I am one of these people
MrV
MrV
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June 4th, 2013 at 9:00:05 AM permalink
Funny how slots are the most popular game in America, whereas in Macau it is baccarat, with its much better odds.

Maybe Asians really do have a better grasp of math than North Americans.

Cultural differences: odd.
"What, me worry?"
FleaStiff
FleaStiff
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June 4th, 2013 at 9:43:17 AM permalink
Its the same way people who normally do not play any lottery at all will buy ten tickets when the prize goes to Ooodles and Oodles beyond all reason.

The lure is the humungous bait, not the minute chance of it.
treetopbuddy
treetopbuddy
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June 4th, 2013 at 9:46:12 AM permalink
Quote: MrV

Funny how slots are the most popular game in America, whereas in Macau it is baccarat, with its much better odds.

Maybe Asians really do have a better grasp of math than North Americans.

Cultural differences: odd.



The Asians may have a better grasp of math but they honest to god believe the "board" reveals the next play only if you concentrate hard enough. Watched an Asian guy with 3 teeth playing 500 plus a hand. MONKEY!
Each day is better than the next
Canyonero
Canyonero
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June 4th, 2013 at 9:58:42 AM permalink
Slots are the practical implementation of behaviorism in the purest Pavlovian sense. The thing I find most striking about the whole thing are the sound effects. Clearly, a lot of psychological effort goes into the music and sound of modern slots, but it seems to go almost unnoticed. Especially the near-win is so effective thanks to sound effects.

Next time you play, pay attention to your cognitive and physical reaction when the second bonus symbol shows up with a resounding, bass-heavy, satisfying "BOOM", followed by a crescendo of sounds while the final reel keeps spinning an unreasonable amount of time. Didn't get the bonus after all, huh? But you will surely be hoping for that "BOOM" on your next spin.

It all comes down to that there even is positive reinforcement when you don't get paid at all.
AcesAndEights
AcesAndEights
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June 4th, 2013 at 10:03:54 AM permalink
Quote: MathExtremist

The same reason otherwise seemingly intelligent people are drawn to near-certain financial (and emotional) doom by attending Mariners games. Because despite the cost, and the significant odds against you (or against the Mariners, as the case may be), it's a fun way to spend a few hours.

Except if it's opening day, the roof is open at Safeco, and it's about 45 degrees outside. That's not as much fun even with the garlic fries.


Quote: slyther

I am one of these people


After 7 years of being a somewhat die-hard fan (yes I know that's not long at all) I stopped paying attention to the Mariners about a month ago. I just couldn't invest anymore emotional energy in such a horribly-run team. I felt it was a +EV decision for me.

Sorry, couldn't resist continuing the off-topic tangent.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer

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