Wednesday 19 October 2016

PARADOX OF GAMBLING

"Because of my past loss, I try to stake larger amounts and more frequently hoping to win back my accumulated debts" - Ifeanyi (problem gambler).

"Because of the great 'Luck' I once had,I stake more frequently believing that I'm just one game away from another 'Luck'". - Samuel (problem gambler).

"I'm always overwhelmed by the positive feeling and great chances I see on the forecast board which just makes me give it a try even when I know 'The House Always Wins'". - Fawaz (problem gambler)

Paradoxically, the more you lose the more you stake. Isn't this act questionable? Are you not supposed to deviate from such frivolous act that is to your own peril? Why do problem gamblers still place bets when the chances are extremely low? Why do problem gamblers still place large bets when it is obvious that all the odds are meticulously arranged to the profit of 'The House'.

 Trying to figure out exactly how many people around the world gamble is an inexact science. It's hard
enough to be absolutely certain about the numbers in any one nation, so trying to cobble together a worldwide picture comes with a lot of potential
error.
Still, there are numbers out there, which you might like to check out for yourself.

From my own point of view some of these gamblers have their brains freezed at the point of forecasting and staking because of the excessive adrenaline rush and sheer excitement coupled with the fact their hopes are too high to make them think they'll not lose. From the point of staking they even begin to place budgets on the income that isn't certain yet, so they never think things through. While others are just blinded by this 'illusion of control' believing that they can exert skill over an outcome that is totally based on chance.

  In addition, there are two major events out of all others that causes addiction to gambling, firstly we have:

Near-Misses: This an event in which an outcome of a placed bet is unsuccessful, but is extremely close to the desired outcome. Like your horse finishing second on the race track or you were just one number away from the golden jackpot. Then you say things like "That was close,another try"
"I think I'm getting better at this" "Luck is on my side". All these increases your propensity to become an addict.

While the other event is:

Loss Chasing: This is an event in which a person places a bet frequently and stakes with a larger amount with this distorted perception or believe of having more chances to recoup accumulated debts.

This phenomenon has caused and is still causing a lot of problems in the world today. People are getting into finacial catastrophe, relationships are broken(with man and God), work ethics are affected, children are misled, anxiety, worry, fatigue, depression all sets in, bad attitudes and habits are picked up, people steal to gamble or pay debts.

With all these loss, they still stake more, thinking its a panacea to their problems. What A Paradox!

©Malo Maverick

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