Psychology
All casino games are designed to give the house an edge, without exception.
The edge is there to make money for the casinos, and give them a sustainable business model.
Here, we will look at the important psychological aspects of gaming.
Does the House Always Win
The house always wins, or so goes the famous saying.
The simplest example is with a bet on the colour of a drawn card.
In a standard deck of cards, we have 52 unique cards, 26 red and 26 black.
Instead, it may offer odds of 1.9 (-110 in American odds).
You play 10 rounds, betting on black each time and you win 5 from the 10 rounds.
Spending $10 per round, you have spent $100 in total and won $95.
That is, you are down by $5.
To break even, you should win 52% of the time rather than 50%.
You have to beat the real odds of winning to make a profit.
We want to believe we can hit the jackpot or come into a winning streak to bring huge profit.
They don’t go out of their way to reel in players and steal their money.
The games are designed in a way that they will bring the house a profit.
But theallure of winning big moneyis enough to catch anyone’s attention.
One interesting thing about these players is that you rarely find a lottery player getting addicted.
Lottery players generally do not fall for the same fallacies as casino game players.
The social impact is another important aspect to consider.
Lottery players don’t really have the same interactions or have gaming sessions as sports bettors or casino gamblers.
The fear of missing out orpeer pressure to gambleis far more evident in casino gamers or sports bettors.
The dazzling lights in a game of slots or the big jackpot display catch our attention and our curiosity.
One of the main fallacies that players continue to fall for is theillusion of control.
But you cannot rule out the fact that luck still plays the biggest role in deciding the outcome.
No, instead casinos can offer you bonuses to catch your attention.
They arent just there to win new customers or to make money off you.
Casino bonuses generally are offered to encourage you to play more.
The more time you spend at the casino, the more likely you will spend more money.
How many players would turn down a bonus spin offer?
Existing customer bonuses are one of the most powerful tools online casinos have in their arsenal.
Through recurring promotions and the goodies, we can incentivise each gaming session.
Yet for some gamers, thejackpots are the most funto play.
The reality is that most players will not hit jackpots in their gaming.
But there will be no shortage of players who are interested in playing.
Especially progressives, where the top prize increases constantly.
In terms of odds, playing for jackpots or side bet progressive jackpots is not worth it.
Yet psychologically, we generally dont think in terms of how unlikely we are to win jackpots.
Instead, most players stake bets in progressives as lottery players would.
Bettors with expert strategies rarely spend money on progressives.
you’ve got the option to manage your spending by setting deposit limits.
When you have topped up with an amount equalling your limit, you wont be able to spend more.
That is, until the timeframe has expired and then you’ve got the option to spend again.
Deposit limits can be set on a monthly, weekly or even daily basis.
Another tool is reality checks.
These are notifications that tell you how long you have been playing.
Sure, RTP does give us an impression, but it is a theoretical value.
Understanding that the house has the edge is crucial to keeping a level head.
When luck does turn in your favour, don’t waste it.
Don’t chase losses or let biases convince you that the next big win is just around the corner.
And remember, to always play for fun.
Daniel has been writing about casinos and sports betting since 2021.
