The psychology of gambling

By far most games are governed entirely by chance, such as lotteries, gaming machines and roulette. As the games are governed by chance, you cannot affect the outcome. There is no point in having your own systems, and concepts such as “lucky numbers” and “lucky machines” are just superstition. Because of the way games of chance are designed, the average and therefore the most probable outcome is that the longer you play, the more you lose. There is of course a slight chance that you will be the one who wins a large sum of money, but that is extremely unlikely. What is, however, guaranteed is that the organiser of the game will earn money from it.

Knowledge and skill play a certain role when it comes to betting. If you’re well-informed and knowledgeable, there’s an increased probability that you can predict which team will win a match. The problem is that other gamblers are also well-informed and will presumably make the same prediction as you. This causes the odds to fall and it becomes difficult to win a large amount. To win a large amount when betting it takes, that’s right, luck.

We gamble for different reasons
You might imagine that we always gamble in order to win money. But there are other reasons too, even though one motivation often dominates others as the reason why you gamble. Listen to registered psychologist Jakob Jonsson explain what drives different types of gamblers in their gambling.

The psychology of gambling
If you don’t understand how gambling actually works, it’s easy to make poor decisions about your gambling. Our gambling is governed by our biology, how we think and not least by how the games are designed.