Comments on: The Situation of Gambling http://thesituationist.wordpress.com/2008/03/15/the-situation-of-gambling/ Mon, 17 Jun 2013 07:51:14 +0000 hourly 1 http://wordpress.com/ By: Reference: Gambling Mind « Mike Cane 2008 http://thesituationist.wordpress.com/2008/03/15/the-situation-of-gambling/#comment-12411 Sun, 30 Mar 2008 16:34:04 +0000 http://thesituationist.wordpress.com/?p=1831#comment-12411 [...] Gambling Mind The Situation of Gambling Yesterday’s Here and Now (on NPR) included a fascinating (15-minute) interview of journalist [...]

]]> By: Jay Livingston http://thesituationist.wordpress.com/2008/03/15/the-situation-of-gambling/#comment-12287 Sun, 16 Mar 2008 17:52:59 +0000 http://thesituationist.wordpress.com/?p=1831#comment-12287 Aside from, or on top of, any brain chemistry, compulsive gambling has a rational or at least cognitive component. When a gambler loses, it makes sense to keep gambling to win back the lost money. All you have to do is choose the right bet. If I lost by betting on Georgetown last night, all I need to do is pick the right side in the next game.

As losses increase, gambling still makes sense. Even if I now realize that my chances are not great, if I have lost the rent money, there is no other way to get that kind of cash before the end of the month (unless I want to commit predatory crimes). I am forced to choose between what appears a 100% chance of a bad outcome (eviction) and a roughly 50% chance of a good outcome (betting another month’s rent in hopes of getting even).

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