Psychological Incentives of Gambling will consists of making a bet into the outcome of certain event. Bets could be placed to sports contests, horse races or games of chance like cards, dice, lottery, bingo, roulette or slot machines. Bets would also typically consist of money or some other assets that are lost or won based on whether an incorrect or correct prediction is made. And the idea of winning great jackpot would be the motivation of many people to take certain unusual financial risks as well as might lead to gambling addiction.
Psychological Incentives of Gambling
Casinos are considered as some of the most profitable businesses in this world that do not actually produce a product. Though live casino are being highly regulated by those government agencies in order to reduce cheating and scams the public is rarely aware of the odds of winning a particular game. These casinos have mastered the so called art of temptation. There are numbers of psychological incentives that are designed in order to part you from money. If you have made a bet and lost your money you will have this greater motivation of continuing betting in order to recover losses. At the end of the day, casino always wins since the odds are being stacked in its favor.
Some of the psychological incentives of gambling are as follow:
- Money is being converted into credits, chips or token for gambling. The said abstraction would make it a lot harder to keep track whether how much money has actually been lost. If real money is converted to play money it would take significant mental effort as well as discipline to cash out though after a win.
- Customers playing slot machines would receive small and frequent prizes within irregular intervals. This would encourage continued betting as for the purpose of getting big jackpot.
- Casinos would keep customers in the gambling halls through offering hourly prizes which must be claimed within thirty minutes.
- The customers of casinos are required to insert a casino ID card to the slot machine in order to qualify for the hourly prizes. Though it might not require them to gamble but as the card is in they might actually feed the machine.
- Almost all gambling halls are filled with loud and happy sounds such as tinkling of the coins or simple ditties for winning bets and also quiet short sounds as you lose the bet.
- The attention of the customers is kept to the gaming equipment and slot machines due to hypnotic rotating wheels and also video displays having flashing images.
- Slot machines produce loud ringing as it pays out a jackpot serving to convince players that are losing from other machines that it would still be possible to win just by continuous play.
- Most casinos would program slot machines in order to pay only the jackpots once the maximum credits are played. Though the slot machine hits the best of the said winning combination, still the big jackpot is not being pain unless the maximum needed bet was made. And with this, players are encouraged to bet higher.
- The absence of clocks and low level of lighting in the casino relaxes those customers making them lose the track of time.
- Casinos are also providing free alcoholic drinks to the gamblers at the game tables or slot machines. Those that are gambling under the influence of alcohol could lose their money a lot faster due to poor judgement.
Those are considered as the psychological incentives offered by gambling. With the above mentioned psychological incentives, there is definitely no doubt that increasing numbers of individuals are becoming addicted with playing in numbers of casinos all over the world.