The 10 Scary Secrets About Gambling You Never Knew: Myths or Realities?
Almost everybody wants to get rich, there’s that desire to either get rich or get rich quickly.
Truth is, we all want to succeed and the road to success they say is never restricted to one path. This is one reason why gambling is a lucrative venture for some risk-savvy individuals. However, we cannot forget that not everyone who gambles does so because they want to get rich but probably because they have some cash to play around with.
Have you ever heard your clergyman in the church or mosque criticizing gamblers as one of the sins you should not indulge in?
Some might even argue that if gambling is a sin, why is it allowed in most countries? Hey, I am not a religious expert or a legal luminary to dissect all the issues but there are some secrets about gambling that you need to know.
These secrets will shock you because I can guess that you never thought that some of them are myths and others are stark facts that you should not toy with.
Before taking a look at the top eleven secrets of gambling, here’s a definition of gambling you should have at the back of your hand.
Simply put, Wikipedia defines Gambling as the wagering of something of value on an event with an uncertain outcome with the intent of winning something of value. It is one single umbrella that includes games, contests, betting, lottery and others. With this understanding, what then are the myths and realities of gambling?
Myth 1: GAMBLING IS HARMLESS FUN
Fact: Gambling is fun but Highly Addictive.
The desire to keep on trying until you win something and the desire to win something bigger results in what Psychologists call addiction. This addiction explains why people go on and on, and on until they win something. Even after winning something, there is a strong motivation to gamble with their win. Once this continues, they develop strong confidence to gamble with their salary, their car and even their house.
Myth 2: GAMBLING IS A GREAT WAY TO MAKE MONEY
Fact: Gambling is not a Sustainable Way to Make Money
There is no doubt that a gambler can win a fortune through gambling but in the end, the gambler loses everything. What then is success if it cannot be sustained and what can we consider a gain when it is only for a short period? The story of Terrance Watanabe, the boss of Oriental Trading Company who gambled about $825 million after cycles of wins.
Myth 3: IF YOU KEEP PLAYING, YOU WILL EVENTUALLY WIN YOUR MONEY BACK
Fact: The Wins from Gambling Can Never Pay for the Losses
Although there are few cases where people stake something little and win something big, most of the time, the reverse is the case. There is no rationale behind gambling money time after time and expect that you will win tomorrow. Remember, they say tomorrow never comes and such expectations are a wild goose chase. An entrepreneur can keep investing with the hopes of gaining something tomorrow because such investments are based on an asset but gambling does not qualify as an asset with potential benefits.
Myth 4: IF YOU CAN AFFORD IT, GAMBLING ISN'T A PROBLEM
Fact: Affordability of Gambling is one of the causes of Gambling Addiction
Think about this, someone who cannot afford cocaine or any other hard drug cannot get addicted to it. Once it is affordable because you have the money to pay, then there is a tendency to keep on enjoying it to the point of no return. What do you think? Most gambling sites offer cheap gambling which will cost as low as N50 for a bet and this is intentional, you will be happy that it is affordable and keep on doing it. In the end, you are addicted.
Myth 5: GAMBLING IS ONLY A PROBLEM WHEN YOU GAMBLE EVERYDAY
Fact: Occasional or Periodic Gambling is Dangerous.
Whether it is once a day, once a week, or once a month gambling, it makes no difference over time. After a while, addiction sets in and this results in compulsive behaviours which are detrimental to the health, finance, relationship, career and spirituality of the victims. Imagine when you are running out to gamble when you are in a religious gathering. That is how bad gambling can be.
Myth 6: KNOWING A GAME WELL INCREASES YOUR ODDS OF WINNING
Fact: The Result of Gambling is not based on your Knowledge but the System Algorithm
You must be joking if you think that your knowledge, skills and experience are what determines the result of gambling. Whether it is a Casino or a Sports bet, there are dedicated algorithms and game structures that are designed to rob Peter to pay Paul. Who then is Peter? Of course, the gambler. It is true that people are winning but have you not won? Imagine it this way, the betting company or gambling companies exist to make a profit and one way to do that is to regulate the odds.
Myth 7: THE MAJOR PROBLEM OF GAMBLING IN FINANCIAL
Fact: Gambling Affects Every Aspect of Human Life
The problem of Gambling may start from the pocket of the gamblers but in the end, gamblers do not have a relationship, associates and networks to bank on. Think about this, can you trust a gambler? Trust they say is the basis of any relationship and if a gambler cannot be trusted, nothing good in terms of relationship can occur. Imagine what the world will look like without a loved one, a friend, a colleague, a partner and even a sponsor because no one wants to help a gambler with more money to gamble.
Myth 8: ALL GAMBLERS ENGAGE IN CRIMINAL BEHAVIOR
Fact: Gamblers usually resort to criminal activity to finance their gambling.
How about a perceived harmless lie like this; I could not pay my house rent because the Landlord's account number wasn't working when in actual sense, you have gambled with the house rent. From a simple white lie to duping people, stealing monies and armed robbery, Gambling exposes good people to criminal attitudes and this could get so worse that it becomes difficult to stop.
Myth 9: MY TEENS DON’T GAMBLE
Fact: Gambling is a bigger problem among teens than it is among adults.
This myth is actually very funny and most parents share this view, and even teachers. The fact is that the allowance, pocket monies and internet subscription usually result in systematic gambling which parents are often not aware of. Well, some parents may be aware of what their children do and still support them but this is a time bomb waiting to explode when addiction sets in.
Myth 10: FEELING LUCKY MEANS YOU’RE GOING TO WIN
Fact: Distorted beliefs about luck are a key mechanism in developing a gambling addiction.
Superstitious beliefs are prevalent in many games, including gambling. In other words, the gamblers believe that “they are lucky or will become lucky” or “they have some special gambling skill or knowledge”. Gambling tends to induce some gut feelings of "I will get it this time" and because it is an addiction, such feelings are so strong that it lures people to act irrationally.
From the different perspectives about the myths and realities shared above, what do you think about gambling? Are the promises real or false? Let us know what you think.
