scorecard
  1. Home
  2. smallbusiness
  3. Finance
  4. Study Shows That Gambling Is Even Dumber Than We Realized

Study Shows That Gambling Is Even Dumber Than We Realized

Amanda Macias   

Study Shows That Gambling Is Even Dumber Than We Realized
Smallbusiness1 min read

If you've ever been tempted to test your luck in a game of online poker, new data shows that this really is a bad idea.

A new analysis by the Wall Street Journal found that heavy gamblers are almost certain to lose - and lose a lot.

The most dedicated online poker players spent more, played more, and lost more, according to a report from the National Center for Responsible Gaming.

In one study, 4,222 online gamblers were observed playing casino-style games likes slots, roulette, and video poker from 2005 through 2007. Of the top 10% of bettors, those who placed the highest number of total wagers, researchers found that 95% lost, and some lost in the thousands, reports the Wall Street Journal.

What's more, for any significant win there were 128 gamblers that lost more than $5,000, the publication reports. That's a 0.78% chance of winning.

The "better luck next time" expression doesn't hold up either. Of those that continued to gamble, only 11% ended up winning some money back - and typically less than $150.

READ MORE ARTICLES ON


Advertisement

Advertisement