Study Shows That Gambling Is Even Dumber Than We Realized

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.