Monday, February 28, 2011

The psychology of casino

It is an accepted reality in playing casino that the house always has the advantage over the players in terms of winning probabilities. Whether a gambler plays crap, slot machines, roulettes or blackjack, the casino’s odds of winnings are always superior to that of the player. This is the reason why the gambling industry is a very lucrative business and why more people are keen establishing casinos or other gambling sites. What wonders people most why people are still into gambling despite having this information beforehand. Studies had been made with players as to why they are not dissuaded to go to the casino even though they know the scale is tipped against their favor. Researches show that players often have an unfounded belief that they can outwit the casino by overestimating the players’ chances of winning. It creates an illusion that the players have control over the game and the results thus encouraging them more to play and place bets. If players lose, they consider it as “near misses" that can encourage them to increase the frequency of their visits or prolong their gambling time. They also consider these “near misses" as an indication that they are getting mastery of the game and that soon the odds will shift in this favor. It is this misconception that leads a gambler to create the belief that skill will soon catch up with chance and this would translate to better winning percentages. Many players who do not get out from this false belief are the often the players who become addictive to gambling. Playing casino is a very fun activity but players must still exercise some control in how they play and avoid becoming addictive to this form of entertainment.

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