How much does the average person lose gambling? You may have thought about this question before. Gambling is a fun and entertaining activity to do until you start losing money — and lots of it. In the US, for example, the average player loses $250 at a casino. Indeed, it is easier to lose money at the gambling table than to win it. You can walk into the casino with 10 dollars or 5000 dollars and lose everything in one hour.
How much does the average person lose gambling? What this leads to:
Problem gambling
It is easy to become addicted to gambling thus becoming a problem gambler. Problem gambling doesn’t just start overnight. It starts with telling yourself that you can recoup a loss. So you continue to place bets until you lose control. Now, the game starts to control you and you cannot seem to go a day without looking for what to gamble on. Here are some of the consequences of problem gambling:
Debts
As stated earlier, the game controls problem gamblers. They have to gamble every day and no, they don’t do free versions of gambling games. So, they constantly need money to fund their habits. They bet until they exhaust money in personal accounts but they don’t stop there. They borrow, pawn expensive personal items and in worse cases, steal to continue gambling. Problem gamblers are always in debt. Now when they lose a bet and cannot pay the bookmarker, things can take a different turn. Stories abound on what bookmarkers are capable of doing to those who owe them. Trust, they are not sweet stories you’d like to hear. Debts are one of the things that can happen in the long run to an average gambler who loses money.
Denial of loans
Here is how this plays out: losing money on bets may tempt you to continue playing. More often than not, you give in to this temptation. You withdraw from your bank accounts to multiple betting sites. When you’ve exhausted that, you give in to the temptation to take money from your credit accounts. Now, this may not have any consequences until you want to say, maybe apply for a mortgage.
Bank statements or credit reports messed up by withdrawal to multiple betting sites may get your loan application denied straight away. The perception that gamblers are an irresponsible lot is still pervasive. Lenders may not easily trust you with a loan unless you proved to them that you gamble responsibly.
In recent times, banks are also terminating their relationship with problem gamblers. When you constantly withdraw from your bank account to betting sites, your bank may block your account without warning. This is due to certain federal laws that affect gambling that banks have to comply with. Some banks may tell you straight away that they are no longer interested in a banking relationship with you.
Stigmatization
This is an emotional consequence and to some gamblers, the worst of them all. As iterated in this article, people still perceive gambling as an activity done by irresponsible people. Well, with average gamblers doing the most by betting even after terrible losses, you can’t blame people for thinking that way. No matter what your personality is, everyone likes people to accept them. Having people around you can help you get through difficult situations among other things.
Unfortunately, problem gambling can ostracise you from people including friends, family, and other loved ones. Very few people would like to be associated with a problem gambler. This is because of the belief that such association may cast them in a bad light as well.
Depression
Losing money to gambling time and over again leads to depression in the long run. This is never a good place to be in as everything and everyone in your life will be affected. Depression could cause you to withdraw or be aggressive among others. This may lead to you losing your job and other important relationships.
All of these are consequences bound to happen when you keep on playing despite losing. Does this mean that people don’t make money by gambling? Absolutely not! Professional gamblers make quite a lot of money from gambling. Indeed, statistics show that a large percentage of professional gamblers make close to or more than 100,000 dollars annually. Also, this depends on the game they play. While this may tickle the ears, there is a reason they make so much money as opposed to the average gambler who loses theirs.
Professional gamblers aren’t called professionals just because. They are gamblers who just like you started from the very beginning. They invested time in studying game trends and learning new tricks. Through observation and by trying at many different games, they were able to decide which ones were best for them. Yet, even with adequate knowledge at their fingertips, they lose their wager sometimes. However, there is a vast difference between a professional gambler and the average gambler. This is not just about how much money is lost or made. The average gambler thinks that when they lose money they can recoup it. The good news is you don’t have to go that route!
How To Avoid This
Professional gamblers are hardly problem gamblers even though gambling is more like a career to them. Just like the average problem gambler, they spend plenty of time at the gambling table. However, the difference between them and the average is discipline. Truly, it can be hard to apply discipline when you are at the games with all the adrenaline rush and dopamine. That’s why professional gamblers never let themselves be ruled by emotions while gambling. Here are some tips that can help you avoid spending too much when gambling.
Create a budget
This is one secret that professional gamblers use that isn’t popular with the average gambler. You have to control the game by drawing a realistic budget on how much to spend on gambling sessions. See it like this, if you take 100 dollars to the casino, you may likely spend all yet be tempted to continue playing. If you draw up a budget to spend a 100 dollar in a week, it will be easier for you to enforce discipline to maintain your budget. A budget is like the law that guides a country. Citizens are conscious of it and you as a gambler will be conscious of your budget. This solves the problem of overspending or borrowing.
Open a separate account
Professional gamblers know this and use this to their advantage. As stated already, withdrawal from betting sites and credit accounts can mess up your financial credibility. What you can do to avoid this is by opening a separate bank account strictly for your gambling needs. You may wonder, but the bank may close down your account. Well, the good news is that not all banks block accounts because of gambling expenses. To make sure, you can discuss with your accounts officer.
If you’re still unable to use your bank accounts to fund your gambling expenses, you should consider crypto betting. Also, instead of withdrawing from your credit account, you can use casino credit options.
Take a break
There is a time to work and a time to take a break. This is what the average gambler fails to acknowledge. When you constantly lose money and still gamble, it can be hard to focus on your next step. Taking a break will help you relax to restrategize for another gambling session. Also, it will help you clear your mind to focus on other equally productive ventures.
Seek professional help
If you feel that you’re losing so much to gambling to the point where it’s becoming a problem, seek professional help. A therapist will walk you through the process and help you discover where you went wrong. Depending on the severity of your problem, you may be asked to quit gambling. Also, you don’t have to be a problem gambler before seeking professional help. If you feel you’re losing control over how much you spend during gambling sessions, seek help.
Conclusion
How much does the average person lose gambling? The average person can lose as much or as little money gambling. By now, you have been equipped with adequate information to know. How much the average person loses gambling depends on how much the individual decides to part with themselves.
