The Psychology of a gambler (addiction cycle)
(700 reads)
At the initial stage, especially sports betting, you start by winning small small amounts regularly. This becomes exciting. It feels too good to be true. And because you were testing the waters, you start with small amounts of money, insignificant and won't make much financial difference. However, its just the intro stage.
At the initial stage, its more win than lose financially. However, there's another resource being sucked in: time, attention, energy and productivity - which could have been applied to other important things.
However, as time went by, this newfound hobby becomes more engaging, filled with explorations and adventures, with more and more to reveal. With wins and small loses, it gets more exciting like a real life game that is not as bad as it was claimed to be.
At this stage, the player will start attempting bigger risks because it all looks too good to be true, bigger stakes, still with wins and losses.
Truth is... at this stage, if the player could just sit back and take accounts, it would be easy to see that for every winning, there had been 10-fold losses. But no, he won't. He'll keep chasing dreams, visualising a chance to win big. And that marks the beginning of the woes.
That;s when the woes begin.
Little does he know that he wasn't feeling the pangs of his numerous losses simply because they were smaller stakes, although when accrued, had larger impacts.
Unbeknownst to him, its a journey of no return. now with bigger stakes, the losses start biting harder. and by the time our friend actually realises this deep hole of loss, its already too late.
But he won't stop there. He's headed for doom.
Chasing losses.
With huge losses accruing daily, our friend is now on a path of doom.
With the knowledge that he has lost so much (money, time, energy, et cetera), our friend now wants to try and make it all back.
Little does he know that in no way does the new desperation better his odds. Now filled with anger, desperation, haste and regret (emotions that lead to hell hole of doom in gambling), our friend starts taking even larger risks.
And... larger losses. and ultimately... maybe death.
Breaking news:
Final year student commits suicide after losing tuition fees to betting
40-year-old man drinks sniper because of huge debts
30-year-old office worker found dead (hanged self) for no identified reason
And so on.
Those are where the road lead.
Chasing losses is the stage where an addicted gamblers feels the most pangs.
Because it has become addictive, it affects every other aspect of our friends life like work, family, relationship, schooling etc. It has become an incurable disease.
Little wonder I must confess that for an incurable disease, prevention is better than cure.
And I laud nations that outlaw gambling, like China.
I think Nigeria too should outlaw gambling.