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Gaming News Articles

THE ILLOGICAL THINKING PATTERNS OF PROBLEM GAMBLERS

Cognitive scientists and researchers widely recognize the fact that irrational and dysfunctional thinking is associated with problem gambling. Thoughts lead to behavior, and when inherent beliefs are misplaced, a person often has the urge to engage in unhelpful actions that are harmful to themselves or others, including partaking in unnecessary risks.Problem gambling habits are no exception. There are quite a few thinking patterns that contribute to the urge to place a few bets or spend time at the blackjack tables. Also, many of these beliefs are triggered by circumstances that the gambler finds irresistible.



Irrational Thinking Patterns Of Troubled Gamblers

MAIN REASONS FOR RELAPSES

Research found four main reasons that cause a problem gambler to relapse. First, on the list is the thought that a win is possible, if not probable, which is subject to some erroneous beliefs.In second and third place are aspects linked with situational factors, including feeling, bored, wanting to kill time, falling back into a habit, or being presented with an opportunity. These can usually be managed by planning other activities and changing the social scenery, both to pursue other interests and act as a distraction. With time and practice, new, healthier habits are formed,and the urge to gamble lessens.As with the first-placed reason for relapse, the next item is also psychological. Gambling becomes a surrogate or mechanism to help deal with negative situations and emotions. It serves as a distraction to their unpleasant experiences and helps the person to escape for a while forgetting their problems or offering new hope and excitement of a win. These thoughts are associated with the false beliefs that many problem gamblers hold when it comes to placing a bet or playing their favorite game. The following are six such irrational thinking patterns commonly found among problem gamblers.

#1 – MAGNIFIED GAMBLING SKILL

Most players overrate their ability to win, resulting in an excessive self-confidence that negatively influences their decision-making. They often believe they have a unique system, insight into patterns, or inside information that make them superior to the casino, bookmaker, or other players in a competitive game such as poker. Although poker is often considered a skill-based game, novices regularly overestimate their skill, especially as poker involves deception and statistical knowledge that experienced players are adept at. As such, problem gamblers maintain their confidence despite persistently losing and don’t see stopping as an option.

#2 – SUPERSTITIOUS BEHAVIOR

Whether special objects such as a ring, hat, or some other talisman, or certain actions and rituals such as seating preferences and nonverbal behaviors, many problem gamblers attribute these to increasing their probability of winning. They believe that these superstitions modify the outcome and enhance their chances of winning.

#3 – ATTRIBUTION BIASES

The two best-known attribution biases are gambler’s fallacy and attribution errors. In the former,the person interprets a streak of losses as an indication that a win is imminent and he should just persist. This leads to chasing behavior and incremental betting strategies, which create an entrapment situation that's hard to remove oneself from. Furthermore, the influence of skills and abilities are overestimated while random factors such as luck and probability are underestimated. These errors in thinking also trap a person into holding onto unrealistic expectations.

#4 – SELECTIVE MEMORY

Even when wins, especially big wins, are rare, people recall those better and tell everyone about it while they don’t think about and certainly don’t advertise many more losses. Such a selective memory creates an additional motivation to continue gambling in the hope of winning again and repeating the good feeling.

#5 – CONTROL OVER LUCK

Many people believe that luck is a variable or a trait, or somehow contagious and related to good things happening elsewhere. Therefore, they think they can manipulate luck by waiting through streaks of losses, doing superstitious things, or aligning with certain people, events, or games.They don’t view luck as something random but rather a predictable condition.

#6 – STATISTICAL FALLACIES

It is often said that the lottery is a tax on those who are bad at math. Most gambling activities are similar. As a profiteering enterprise, the casino or bookmaker always has the advantage.However, all problem gamblers overestimate their probability of winning, which is what keeps them in the game. They have problems understanding randomness and causality, as we have seen in some examples above. Gambling outcomes are viewed as contingent on other things than chance, which leads to incorrect inferences about the likelihood of winning.

WHAT DOES THIS MEAN FOR THE PROBLEM GAMBLER?

These irrational thinking patterns that are linked to problem gambling may sound complicated,but it only means that a mindset is created whereby a person believes he can win more than what his chances are in reality. Such an unrealistic expectation keeps him at the tables or betting station despite evidence to the contrary. In a way, he (or she) is entrapped by their distorted thinking.By taking a step back, objectively questioning the reasons and triggers that urge a person to gamble irresponsibly, these can be challenged. Together with changes in habits and leisureactivities, the hold of a gambling addiction can be broken over time.

Joan Swart, PsyD, MBA, is a forensic psychologist, business developer at Open Forest, the online mental health self-helpwebsite, a lecturer at the Eisner Institute for ProfessionalStudies , and author of two books: “ Treating Adolescents with Family-Based Mindfulness” and “ Homicide: A Forensic Psychology Casebook.”



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#ElonMusk
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Tesla will now offer self-driving demonstrations to anyone looking to buy one of their vehicles. For safety reasons or to sell more cars? Tune into Elon, Inc. to hear what our panelists think. Listen: https://podcasts.apple.com/us/podcast/elon-inc/id1714619846 Like this video? Subscribe to Bloomberg Technology on YouTube: https://www.youtube.com/channel/UCrM7B7SL_g1edFOnmj-SDKg Watch the latest full episodes of "Bloomberg Technology" with Caroline Hyde and Ed Ludlow here: https://www.youtube.com/playlist?list=PLfAX25ZLrPGTygCwn55voYZ_LYyKjxokJ Get the latest in tech from Silicon Valley and around the world here: https://www.bloomberg.com/technology Connect with us on... X: https://twitter.com/technology Facebook: https://www.facebook.com/BloombergTechnology Instagram: https://www.instagram.com/bloombergbusiness/ Follow Ed Ludlow on X here: https://twitter.com/EdLudlow Follow Caroline Hyde on X here: https://twitter.com/CarolineHydeTV Listen to the daily Bloomberg Technology podcast here: https://www.bloomberg.com/podcasts/series/bloomberg-technology More from Bloomberg Business Connect with us on... X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ TikTok: https://www.tiktok.com/@bloombergbusiness

Published: 28th Mar 2024 12:43:56   By: Bloomberg Technology

Technology News Analysis Video: Bloomberg Technology 03/27/2024

Bloomberg Technology 03/27/2024
Play Video: Bloomberg Technology 03/27/2024


"Bloomberg Technology" is our daily news program focused exclusively on technology, innovation and the future of business hosted by Caroline Hyde in New York and Ed Ludlow from San Francisco.

Published: 27th Mar 2024 07:36:00   By: Bloomberg Technology

Technology News Analysis Video: Databricks Doubles Down on AI Efforts to Take on Rivals

Databricks Doubles Down on AI Efforts to Take on Rivals
Play Video: Databricks Doubles Down on AI Efforts to Take on Rivals


Databricks is launching its own large language model, DBRX, in an effort to help organizations understand and use their own private data to build their own AI systems. CEO and co-founder, Ali Ghodsi, says AI has driven more competition in the industry, including with it's rival Snowflake. Ghodsi speaks with Ed Ludlow on "Bloomberg Technology."

Published: 27th Mar 2024 07:07:08   By: Bloomberg Technology

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