The Psychology of Gambling

Paper Summary:

This paper explains the psychology of gambling and discusses explanations and motivations for gambling. It looks at the origins of pathological and problem gambling, defines "problem gambling", and strategizes treatment for such conditions.

From the Paper:

"Gambling, which is defined as the playing games of chance or betting in the hope of winning money, is deeply ingrained in American culture, and its origins on American soil date back to pre-colonial times. The United States is now in the midst of a third era of widespread legalized gambling, which began in 1931 when Nevada re-legalized casinos. Although gambling is popular and has social and economic benefits, there are also costs involved for individuals, families, and communities stemming from pathological and problem gambling. So why does as much as 80% of the population in industrialized Western societies gamble? The truth is gambling behavior is a mystery; it is an area of human behavior that is full of paradoxes. Ordinary gambling is an interesting part of every human society, but it matters little if we fail to understand why it is so attractive to so many. How is it that there is a small percentage of people who will destroy most of the things they value in order to continue gambling?"

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