Editorial

Friday, 12 September 2008 06:18 Last Updated on Tuesday, 03 February 2009 05:55

Gambling is a pastime that often baffles those who do not partake in its thrills and spills. To anyone outside of gambling’s sphere of temptation, the very reasons for its attraction must seem topsy-turvy. Let’s look at why this is.

The major attribute of gambling is that in most cases, the odds are stacked against the gambler. Which means, in general terms, that the most common likely outcome is that the gambler will lose whatever money they are wagering. That being the case, one would rightly ask the question, “What drives the gambler to do it in the first place?”

Despite the high statistical risk of losing everything that the average gambler faces, this is apparently outweighed by the possibility of beating the odds and winning. This can easily be explained by taking a look at human nature.

It is very common to hear of a majority of any crowd supporting the underdog in a competition, even when there seems little chance they will overturn the fortunes of the prime candidate. This happens in sporting events, in political elections, in business and in day to day life in all areas. It’s in our very nature to take an almost parental instinct to want the little guy to win out over the big guy. It mirrors the David and Goliath scenario, in fact.

When a person decides to gamble, they are instinctively activating that part of their psyche that wills the little guy, in their case themselves, to overcome the big guy, the house odds. There is that spark of chance that spurs the gambler on in their belief that there is the possibility that they can bet those odds and take the big prize.

This leads us to another reason that gamblers are attracted to the act of gambling. This is the chance of taking the big prize, the jackpot.

By far the majority of gamblers that get themselves into serious financial trouble do so because of their relentless chase for the big win. There is the thrill of the chase attached to this problem, although it is far outweighed by the belief that the winning poker hand or the lucky pull of the lever could be their next.

There is a saying amongst gamblers that you should only gamble what you can afford to lose. This is sound advice that few take to heart. Most professional gamblers know this and abide by its precepts. It is they who are generally able to remain within the bounds of their financial situation, where others more foolhardy ignore the advice and pay the price.

In the end, common sense should prevail, although not everyone is blessed with equal levels of this valuable commodity