The Psychology of Online Gambling and knowing when to stop.
When we gamble online, we know that we’re taking a risk for the chance at a reward. What exactly makes this pursuit so popular? Check out this infographic to find out more about the psychology of gambling.
Why is online gambling fun?
- Chemical Reactions – MRI scans have proven that sectors relating to the pleasure centre of the brain light up when gambling, especially while winning.
- We Hope for the Best – How often have you thought “that would never happen to me”? We always believe that things will turn out better for us than for others, with online gambling you’ll most likely automatically assume you’ll win.
- It’s Convenient – With mobile gaming, it’s super easy to play gambling based games at the touch of a button. This offers players a money making opportunity wherever they are.
What are the most addictive and fast winning chance games?
- Slot Games – These speedy games can deliver millions, with a single spin offering a prize winning chance.
- Side Bets on Table Games – Adding to the action with a cheeky side bet is ever popular with casino gamers.
- Bingo – A favourite for UK players, bingo comes in many forms. With fast action, progressive jackpots and a wealth of sites to choose from it’s easy to see why it’s so popular.
- Blackjack – Most people know the rules of this table game, which makes it the perfect strategy game to start out with, play your cards right to win big.
Why can gambling be addictive?
- The chemicals and endorphins that are released when we gamble can be addictive in themselves, as we become accustomed to them.
- Some players can fall into a sunk cost fallacy, thinking that they’ve spent too much to give up now. This idea of throwing good money after bad can easily entrap players.
- With advertising popping up on television and social media, players with a problem can easily be tempted back into a casino when they want to cut down on spending.
What is responsible gambling?
The idea of responsible gambling is that you can enjoy gambling, without going overboard. Here are some top tips for responsible gambling:
- Manage your Money – Being aware of how much you’re spending and limiting it is the first step towards responsible gambling. Never wager more than you’re able to lose.
- Limit your Time – Spending all day in front of a casino site is never good, so make sure you know when your time is up. Putting a hard deadline will stop you from going over by ‘just five more minutes’ each time.
- Quit while you’re Ahead – Many casinos bank on players gambling to extinction, which means using up all of their available funds. When you win big, it’s time to cash out – don’t just wager through your winnings.
- Check your Stake – If the amount that you’re staking keeps creeping up, then be sure to check in on it. High stakes are fine for those that can afford them but you don’t want to make these bets accidentally.
- Consider Bets – Whether you’re gaming in a casino or perhaps seeking out arbitrage bets in a sportsbook, stop and think before you wager. Do the maths and work out if it’s actually the best bet you could be making.
What to do when you want to stop or need help
- Self-Exclude – Telling a site you have a problem and suspending your account is known as self-exclusion. That way, you can’t go back until your cool off time is up and you’ve had a break.
- Use tools like Gamstop – There are plenty of online resources out there, with this being one of them. They operate a Freephone to support problem gamblers as well as informative guides too.
- Attend Gamblers Anonymous Meeting with others and visiting with a sponsor can help you get this bad habit under control.
Fun Facts about Gambling
- Statistically speaking, August is the luckiest month for online gamblers, with the hours of 4pm to 6pm the peak time to win.
- Studies have shown that women tend to be better and more skillful at Blackjack, often proving more conservative and preserving their cash.
- The UK gambling sector generates £13.8 billion each year.
- 43% of gamblers use a smartphone or tablet to place bets.