Casinos do indeed love winning. Without winners, there wouldn’t be casinos. The player and sometimes the mega jackpot winners are their most effective advertisements.
It is doubtful that a massive influx of people would be pouring into their homes daily without the occasional winning story. That one is about the relative or neighbor who played the slot machine one rainy afternoon with just a hundred dollars and won $20,000 using dimes, nickels, or pennies. Everyone loves to think, “that could be me.”
It is the sole logical reason people are willing to gamble huge sums of money when the odds are clearly against them.
From a financial perspective, it is apparent that the cash the gambler does not have is more valuable than the amount the gambler does have. Gamblers’ desire to claim a seemingly impossible massive lump sum of money is far more than a “poor man’s” mindset.
The same urge is shared across all economic classes and boundaries. The person who gambles with money or pocket change up to those who bet thousands of dollars. The patterns are almost universal across them.
If you look at your typical, ignorant casino gambler, you’ll observe them betting massively on high odds payouts and equally risky proposition bets. If due to some chance, they get lucky, they’ll bet more and more in a frantic manner. In complete disregard of the odds against them, they will be completely absorbed at the time, overwhelmed with a feeling of invincibility. A train crash is headed towards him, and he doesn’t even know it’s approaching.
Instead of appreciating their luck for what it is and keeping a portion of their gains, they continue to play. If this kind of gambler wins, they aren’t interested in simply winning money. They desire the chandeliers to fall that hang from the ceiling. They’re thinking of swimming pools, film stars, stretch limousines, and money-filled suitcases. Intoxicated by their fantasies that no amount of cash can please them.
Overstaying and playing too much and playing too much, your inevitable house percentage starts to appear, and our hero loses. In an attempt to regain the money he’s lost, the player increases his bets, taking on more money than anticipated and making bigger, riskier bets.
It isn’t essential to observe the whole scenario to determine the result without a plan to handle either losses or wins. That could have turned out to be an enormously good session and an overall enjoyable time for all involved was a devastating loss. The worst part is that it didn’t have to take place.
If I am talking to people, I will describe them as “professionals” or, at a minimum, “experienced” gamblers. There is a term for this kind of situation. It’s called “gambler’s loss.”
A long-time manager at craps table pits of the Tropicana. He summarized his experience of the situation in this manner. He stated, ” the profits are incredible. There is no need to resort to all kinds of techniques or tricks, either. When a player wins, they are eager to increase their winnings. When they lose, they’ll keep playing, placing bigger bets in the hope of regaining the money they have lost. Whatever the outcome, they’ve no strategy and will ultimately lose everything they started with.”
Casinos are awestruck by this type of gambler on weekends. They are aware of the odds the game is in their favor, and the majority of people who walk through their doors are not or do not be able to play smartly. In the end, they’ll lose. Some may lose a little, and some may lose a lot, but there is one thing they all share.
They also realize that even if the players had a winning strategy and a sensible money management strategy, they would never use it if it appeared too an effort. One of the most popular excuses is that they’re playing to enjoy themselves. Maybe it’s me; however, I’ve had lots of fun when I get lucky.