WHY do people gamble anyway?

Something Mission wrote, which I quote below, got me to thinking.

It's interesting. I watched Theroux's Gambling in Las Vegas again last night. Granted, that millionaire mattress maker Allan (and Dr. Martha - the slots player who had dumped 4 million over the previous 7 years), were depicted as degenerate gamblers, but something Allan said made a lot of sense - that the CHANCE of winning is what brings people back to Vegas over and over. I mean the Allan guy was a multi multi millionaire obviously, but he kept coming back to play (and lose) again and again.

Allan even said, "I think in a lifetime - everyone's a loser" and then added, "But the thrill of being able to win today, lose next month, win the year after, I think it's the challenge, I think it's the thrill, I think it's the entertainment in the city."

Now, I couldn't relate to the "thrill of losing" as it were - if I lost year after year or trip after trip I'd have quit long ago, but for some people, including successful people, the thrill of gaming brings them back regardless of the outcome.

And I have in fact seen many high rollers like that in Vegas over the years - who dump millions and then come back, just weeks later, to do the same again, without blinking an eye.

By the way, it's mostly self employed or self made people who tend to like to gamble more than salaried, at least according to some of my hosts, and at least with regards to mainline, high rolling. Many of these high net worth people tend to be risk takers, and don't mind, or maybe even thrive on more of the same - taking risks - in casinos. I put myself in that category of a successful risk taker who doesn't mind taking a chance in life, including in the stock market, in crypto currency, or in a casino, where let's face it, AP play or not, nothing is guaranteed. At a minimum, even the best AP play might someday be cut off, and therein as well, lies the risk regardless of any advantage.

Gambling - is all about risk.

Quote: Mission146

Why is the thread not being hidden so important to you? You have one verified session win and whatever else constituted part of the agreed-upon terms of the, "Challenge." You claim that you're up...what...has to be over a half million or million, for the year, playing Baccarat. Isn't the money enough? I don't really understand why the thread appearing in Recent Threads should be of any great concern when you have a metric ton of money. To be playing at these stakes, you'd report your worth as what...multiple millions? Over ten million? I don't know. Just seems like a really unusual thing to care about.

I'll tell you where I'd be if I had several million dollars. Actually, I can't say where I'd be, but I know where I wouldn't be---and that's here.

link to original post

My one goal in a casino is to win. I also enjoy figuring out the different potential advantages that might be had as well as the conditions for playing certain things. In my opinion, figuring it all out is more fun than the actual playing.

I think I've said it before, if there was someone following me around offering me 90% of EV on all of the plays that I find, then they could have the plays and I would just take the guaranteed 90% with 0 Variance, at least, for plays that have a quantifiable value. For known advantage plays where the value is more difficult to strictly quantify (such as variable-state slots) I guess we'd just have to decide how much I would take to give them the play.

I'm a rare breed, though. I'm one of the more risk-averse gamblers you're likely to meet.

Even looking at online casino promotions, the first question I ask myself is usually, "Okay, is there an all but guaranteed way to play this that nets some sort of profit." At that point, I compare it to the EV of other potential ways to play it and make a decision.

When I was working 60 hours a week, I looked at BJ as an escape. When I stopped working, I began to see it as a waste of time. Losing $100 annoyed me, and winning $100 was meaningless. Having or not having that $100 simply altered my bank schedule. It certainly didn't affect my life.
When I started playing, individual hands would thrill me. Getting a blackjack on a hand I'd just bumped my bet on was better than trick drill. That gave way to figuring how to get over on the casinos. Soon, I had a nice route where I'd pick up free play and some BJ coupons and make a few hundred over two days. Then I got sick and was unable to go collect my route money for a month or so and I realized it didn't make a difference one way or the other. Didn't need the money and wasn't having a particularly good time getting it. When I asked myself why did I gamble, there was no clear answer. Boredom, because it's there, because if I play for a few hours, I get a free meal, ect,ect.

I need some windfall income.

I clicked the fifth choice in the poll. Obviously.

Quote: MDawg

By the way, it's mostly self employed or self made people who tend to like to gamble more than salaried, at least according to some of my hosts, and at least with regards to mainline, high rolling. Many of these high net worth people tend to be risk takers, and don't mind, or maybe even thrive on more of the same - taking risks - in casinos. I put myself in that category of a successful risk taker who doesn't mind taking a chance in life, including in the stock market, in crypto currency, or in a casino, where let's face it, AP play or not, nothing is guaranteed. At a minimum, even the best AP play might someday be cut off, and therein as well, lies the risk regardless of any advantage.

Gambling - is all about risk.

you seem to know a lot about gambling, MD, and you enjoy it and are interested in it. there may be opportunities for this on the web or youtube? there are so many facets to the gambling scene that people would find interesting.

i chose number 2 - i gamble to win. so i don't really gamble. i've made it no secret that i'm trying to figure out a way to win. but if i start losing, well i'm not gonna hang around.

People want the feeling that they're good enough, they're smart enough, and doggone it - people like them.

Winning at a game where you're supposed to lose does that for some.

i like knowing my money is going to be used for something other than gambling im just an irresponsible person in general and if i had money bad things would happen so i just give it to the casinos

Quote: heatmap

i like knowing my money is going to be used for something other than gambling im just an irresponsible person in general and if i had money bad things would happen so i just give it to the casinos

link to original post

this is hilarious😊. are you a comedian, hm?

I gamble for entertainment.

Not just the usual way people say that their bankroll could easily be an entertainment budget, but it just fascinates and entertains me to watch other gamblers with their odd habits and superstitions. Plus there’s the social aspect.

It makes me wonder why people play slots, mindlessly, for hours on end.

But I also gamble to exercise the brain muscle. It’s a thinking game if you play right.