Casinos really do love winners. Without winners there would be no casinos. It is the winner and at times, the mega jackpot winner that is their best form of advertising.
I seriously doubt there would be such a mass migration of people flooding in their doors every day without the occasional winner’s story. The one about the neighbor or relative that went to play the slots one rainy afternoon with a hundred dollars and hit for $20,000 playing with nickels, dimes or even pennies. Everyone likes to think, “that could have been me.”
This is the only logical explanation why so many are willing to risk so much money with the odds so clearly stacked against them.
From an economic standpoint it appears that the money the gambler doesn’t have seems more valuable to them than the money they do have. The gambler’s desire to win a seemingly unobtainable large lump sum of cash goes far beyond a “poor man’s” mentality.
The same desire crosses every economic class and boundary. From the player betting dollars or pocket change to the high rollers betting thousands, the similarities are eerily common among them.
Watching your typical, uninformed ku bet, you will see them betting wildly on big odds payoffs and equally high risk proposition bets. If they, by some stroke of luck, start winning they will begin betting larger amounts with relative abandon. Without any consideration for the odds against them they become, as if frozen in the moment, overcome with a euphoric sense of invincibility. The train wreck is heading straight for him and he don’t see it coming.
Instead of realizing their sudden good fortune for what it is and protecting some of their profits, they play on. When this type of gambler is winning they are no longer interested in just winning money, they want the chandeliers off the ceiling. They’re envisioning swimming pools, movie stars, stretch limos and suitcases full of cash. Hypnotized by their own delusions, there is no amount of winnings that will satisfy them.
Overstaying and overplaying, the inevitable negative house percentage begins to show it’s face and our hero starts losing. In a desperate attempt to win back what he has lost, he begins increasing his bets, risking more money than he had planned and making larger and scarier bets.
It is not necessary to watch this entire scenario unfold to tell what the outcome would be. With no plan for handling winnings or losses, what could have been a substantial winning session and an all round fun time for everyone turned into a devastating loss. The worst part being is, it didn’t have to happen.
When talking with what I would call “professionals” or at least “experienced” gamblers, there is a name for this condition. It is called the “gambler’s ruin.”
A long time pit boss at the craps tables at the Tropicana. He summed up this way. He said, ” the profits are amazing. We don’t have to resort to any kinds of tricks or gimmicks either. When a player is winning, they want to win more. When a player is losing they will keep playing, making bigger bets in the hopes of winning back what they lost. Either way, they have no plan, they end up losing everything they came with.”
The casinos love this type of weekend gambler. They know the odds of the games are in their favor and the majority of players entering their doors do not or will not play intelligently. As a consequence, they will lose. Some will lose a little some will lose a lot but it is the one thing that most of them have in common.
They also know that even if these players knew of a winning method and a common sense money management system they would not use it if it seemed like too much effort. The excuse often heard is that they are only gambling to have fun. Maybe it’s just me but, I have a whole lot more fun when I win.