Understanding the Allure
An Insight Into The Psychological Complexities Of Gambling
B. N. Dent
AN ENGLISH WRITER, JEANETTE WINTERSON, ONCE WROTE: “Gambling is not a vice, it is an expression of our humanness. We gamble. Some do it at the gaming table, some do not. You play, you win, you play, you lose. You play.” And I think that this quote masterfully unpacks a notion surrounding gambling that risk-averse individuals (those who wouldn’t bet on a coin toss even if you gave them 50-1 odds) often fail to see. This being the idea that, in most scenarios, gambling is not about the reward but rather the rush that one receives from the risk they are exposing themselves to. This is what leads to individuals pouring money into casinos even when they know that the system is rigged, and the odds are stacked against them. Oftentimes, people will put themselves into risky situations subconsciously as they are constantly searching for dopamine or adrenaline rushes, regardless of whether or not they are aware. Of course, I’m not talking about subconsciously walking to the nearest casino and betting your life savings, but just doing something minute that minorly increases the factor of chance in your daily life. As described by Jeanette’s quote, gambling does not only occur at “the table”. It is a fluid activity that can take an infinite number of forms.
But let’s examine more carefully the contemporary forms of monetary gambling that we see – most commonly through sports betting and casinos. Within Australia, we have seen these forms of gambling on the rise since Covid-19. Whilst we were filling the hours of lonely isolation by “dropping Tilted”, adults decided to fill this void by placing some bets. Statistically, in a study conducted by the Government, the proportion of participants who gambled once a week increased from 79% to 83%. Additionally, the market size, measured by revenue, of the casinos industry was AU$4 billion in 2022 – an 8.6% increase in comparison to 2021. Now, although I have provided some reasoning as to why individuals may gamble, regardless of the odds, it is still surprising to see an increase in this activity; we live in a time where the frequency of government initiatives focused on deterring people from gambling is at an all-time high. For example, at the end of every TAB (Australia’ largest sports betting platform) advertisement, one of seven governmentally induced messages is presented to the viewer. The most common being: chances are you’re about to lose. However, any individual who understands basic business principles and probability is already aware that they will most likely lose but persist regardless.
In taking this into account, it becomes easier to see the allure behind gambling. The predominant product that these casinos and betting platforms advertised in the past was the chance of winning a fortune – “You’ll never have to work again”. And whilst they still endorse this to a degree, what they are really pushing now is the experience. This can be observed in Sportsbet’s recent “Bet With Mates” update, which is to a large extent looking to promote the experience component. To further understand this product, we can compare it to a dopamine-inducing drug like cocaine. How much are you willing to lose in order to get the rush produced by the risky nature of gambling? In pursuit of the thrill, the loss of money when gambling can be equated to the cost incurred by an individual when purchasing a drug like cocaine. In the realm of dopamine-fuelled gambles, casinos and sports betting platforms have transformed into our modern-day alchemists, turning currency into emotions. The allure is no longer just in the pot of gold at the end of the rainbow; it’s in the kaleidoscope of emotions during the chase.
To conclude, when the famous American playwright Wilson Mizner defined gambling as “the sure way of getting nothing for something”, maybe he was somewhat short-sighted. But if you are to gamble, don’t bet with your personal assets. Take a healthy risk. Try out for debating. Try writing an article for the Blue and White Insight.