People keep gambling despite having lost a significant amount of money because they believe their bad luck has to change. These same people never considered the fact that the odds are already against them.
Players believe in at least one or more of the following situations while continuing to bet:
Someone has to win and I have lost for so long that the chances of me finally winning increase. A player will hear of someone who won a hundred thousand dollars last week. The player enters his imaginary dream world and believes that he, too, is going to win a big jackpot. Unfortunately, the big victory never comes.
The last five bets I made on roulette I lost. Since all bets were on black to win, I know that it will come out black next. This pattern of behavior is constant among compulsive gamblers. They do not see themselves losing even though they have won very few times.
A compulsive gambler has a good day at work. Now they feel lucky. After work, they had to go to the local casino to try to win money. They get there and are even lucky enough to win a small jackpot in their first half hour. They feel great inside and believe that today is the day they are going to win big. An hour later they already lost the money they made and the money they brought. What do they do next? They go to the ATM and think they are going to get their money back and more. Unfortunately, they lost that money too. They head home depressed and upset not knowing what to do next.
A player is waiting to play his favorite slot machine. Someone else is sitting in his place. They wait and watch for a short time. They see the other person putting more and more money in the machine. They wait patiently for the person to leave. They are sure that this slot machine will pay off. They sit down and feed the machine twenty dollars at a time. A short time later UFA they realize that they lost all the money in their wallet. As they proceed to leave, another player hopes to get his shot at a machine that just doesn’t seem to pay off. Unfortunately, that player also lost his money.
Every compulsive gambler believes that he will recover the lost money. I met a player who was lucky enough to win $ 3,000 on a Tuesday. The player went home feeling happy and satisfied. A feeling they hadn’t had in a while. The next day and the next day and the next day, the player wanted to win more money. Within a week, the player returned the money he had won plus another thousand dollars. Once again the player was depressed, but he was still willing to go back one more time even though the odds were against him.