Gambling in today’s society has become an inseparable lifestyle to which the masses have accustomed their financial freedom to. While this is not entirely a smart way to make riches, the unending poverty level of the population has brainwashed many to see it as the only way out. Gambling is as old as any other societal habit that has been in existence since when nobody can remember.
The continuous financial struggle of the larger part of the masses has even made society see this unscrupulous act as a means to an end by scrapping their hard-earned money. Today, gambling has evolved into a larger scheme with countless backups by many institutions. With the advent of modern physical sports such as Football, Basketball, and many others, there is no hope that Gambling will clear off the surface of the earth anytime soon.
How Does Gambling Work?
Gambling could be as simple as tossing a coin and it could be as complex as using complex statistical, numerical, and analytical factors to predict games to make a profit. But certain games, like poker or sports, betting, combine elements of skill and chances. Players that are more familiar with the regulations than others can try to use them to their advantage. In these circumstances, game expertise is essential.
The unethical part of gambling is that most predictions are not 100% accurate. The fact that most gamblers have managed to make some money from their previous gambling activity tends to give them vain confidence that if the previous strategy is taken, they might be lucky again to win big as before.
What Are The Types of Gambling?
Gambling has evolved and people are making money with it daily, while a larger number of others are losing their last cent on it. Since business moguls are always willing to secure income in any way possible, gambling has now been disbursed into different types which are;
1. Casino Gambling
Despite the fact that casinos have been present since the 17th century, the gaming platform has continued to evolve for centuries. For the records, it has been prohibited for the majority but casino games continued to be played. Casinos include a wide variety of casino games, including roulette, slot machines, card games, dice games, and dominoes. Some of them are banked games, in which the house wages against the players and has a stake in the result. Keno, roulette, blackjack, and classic slot machines are a few examples.
2. Sport Gambling
Players that participate in sports betting make bets on a specific sporting game result. The game on which gamblers are betting is never played yet by sportsmen. Based on what the bookmaker is offering, the player forecasts the outcomes of the sporting events.
The player must decide whether they can benefit from the game. They also place their predictions on their familiarity with the particular sport. The participant then places their bet (gives money to the bookmaker to hold). The player will receive their money back plus earnings if their forecast is accurate. If it’s incorrect, they forfeit their investment capital.
A poker is a form of casino game, although it doesn’t need to be played in a casino. Winning the pot is the objective when playing poker. The total amount which every player bets during the early stages is known as the pot. The chips stand in for the money that the participants are betting. Players eventually “cash out” after the game by exchanging their chips for cash. According to the hand they were dealt in poker, the players decide whether to place a wager or not. They can also use bluffing to try to undermine the confidence of the other players and get them to give up.
A lottery is a low-probability game because winners are chosen at random, making it a low-odds game in terms of the available chance. Each player in this game has an equal probability of winning or losing. Lotteries are popular because players can enter for a low entry fee and have a chance to win a large payout.
Governments at the state and federal levels frequently run lotteries that offer highly valuable prizes, such as the Green Card, which enables foreigners to live legally in the US. These types of gambling have already been criticized for being addictive. Although tickets are often not expensive, the expense might add up over time.
In the Raffle gambling game, each player purchases a ticket with a set of numbers on it. A duplicate ticket is printed and placed in a box for the drawing by the raffle organizers. The participants hold the same tickets that are kept in the box when the window for purchasing tickets closes.
You may be wondering what aspect of raffles involves gambling. The organizers then conduct a draw ticket which is chosen at random. Any player who gets the tickets matched is declared the winner. The award for the winner can take the form of money, a service, like a vacation package, or tangible goods, like t-shirts.
Why Do People Get Addicted To Gambling?
The uncontrollable urge to continue gambling despite the negative effects it has on your life is known as compulsive gambling or regarded as a gambling disorder. When you gamble, you’re putting something you value at risk in the hopes of winning something even more valuable.
Like alcohol or drugs, gambling can cause the brain’s reward system to become overstimulated, which can result in addiction. If you have a compulsive gambling issue, you can keep chasing earnings that end in losses, lose your funds, and put you in debt. To feed your addiction, you can hide your conduct or even start stealing or engaging in fraud if gambling doesn’t give you what you want. Compulsive gambling can be mentally and financially dangerous. Although treating compulsive gambling can be difficult, many individuals with the disorder can find relief through qualitative treatment.
Factors That Make People Gamble
There is always a driving force behind every human activity. While some may be willing, many others may see it as a means to survive. Just like Gambling, lots of people venture into other social vices due to various factors some of which are listed below;
- Peer Pressure
- Financial Breakdown
How To Stop Gambling and Make Money Legitimately
Lots of people have left and returned to gambling after a short period. This is because their mentality has been fixed to see gambling as the only alternative through which they can make a living. Truth be told, leaving gambling for eternity is harder than it seems, it requires lots of mental and financial backup to eventually say farewell to this lifestyle and pick up real financial freedom. With this, we provide you with a few ways to stop gambling.
1. Discard Every Gambling Thought
Gambling is characterized by the feelings and thoughts of being successful after an unsure prediction. Most gamblers are known to always be internally motivated either by peers or based on the positive history they share in the act. Some of these thoughts are quite universally similar and tend to be the driving force behind most of their actions.
Thoughts such as “I am feeling lucky today”, “I have a winning system”, “I won once, I can do it again”, “I will play better today” and much more tends to ring in the minds of most gamblers which prompt them to give betting another trial. Once these thoughts are flushed off your mind, you’re a step close to leaving betting behind.
2. Ask Yourself If It’s Worth
Behind every action of a gambler lies the motivation that drives them. Self-conviction is one of the major factors that encourage gamblers to continue investing their every cent into gambling. However for anyone who has been gambling for several years to quit all of a sudden it takes internal conviction to make this workout. As a gambler who is ready to quit always ask yourself if it has been worth it all this while.
Since this is a personal scenario whatever answer you get to that question should be a tangible reason for you to back off from chasing the shadows and get real with your life.
3. Stay Away From Gambling Peers
Have you heard the saying, “show me your friends and I’ll tell you who you are”? This is very essential in a situation such as this. The set of people you socialize yourself with determines if you will be able to quit gambling easily or not at all. Psychologically, peer pressure affects our emotional personal, and psychological actions to act say, and do things the way our intimate pals do it.
The truth is getting to stay away from our very close ones and live our lifestyles in the best way possible may be a very difficult thing to do. Humans are social beings and cannot do without interacting with others in their environment. For this reason, if you are battling the habitual gambling syndrome which is often transferred from your peers, it is better to change your circle to one with a higher ambition and focus.
4. Eliminate Your Betting Triggers
Just like smoking, stealing, fighting, and other vices, betting has some strong level of triggers that makes it happen repeatedly. You cannot stop a habit easily if it has some triggers that prompt you to go back to it. Now, the goal is to eliminate the trigger, this will eliminate the act. Try to understand what usually happens before you take that money and visit that pool outlet to predict unnecessarily, once that is done you’re likely to leave betting anytime soon.
5. Find A Legitimate Alternative
You might be convinced if you discover a better way to make money rather than waste them all on predictions. Gambling is an uncertain game of the mind. If it gives you $1000, chances are it would take $3000 away in a few months. Hence, if you should get a better and more impressive way to generate income, you might just discard betting ASAP.
Tips To Save Money After You Stop Betting
Betting might just be hindering you from seeing better opportunities to seize in society if you play your findings well. Would you rather continue gambling your chances of survival on uncertainties or you will hold on to the mantle of financial freedom? Once you make your decision, stick to the below tips and ensure you bring an end to all your gambling intentions, and then take the following chances to save your money.
1. Stop Gambling
Imagine how much you could have saved if all of the money you waste based on endless predictions are kept either monthly or weekly? You could be financially buoyant enough now to kick-start a business and grow from there. Sadly, some people will tell you they bet so they could save money. Seventy per cent of them don’t open up businesses, while thirty-per cent of those who do, eventually discard their capital on betting.
2. Learn a Digital Skill
Digital skills are the surest way to get knowledge and make legitimate money in the 21 century. With lots of people going online every day, you could be making what others make monthly in a week if you’re good at what you do. This is very accepted in society rather than chasing shadows by playing games that both waste your money and time. Here are some of the digital skills you can learn and make money online.
- Affiliate Marketing
- Graphic Design
- Social Media Marketing
- Data Analysis
- Web Development
3. Subscribe To Fixed Deposit
Why not deposit part of your money immediately gets into your account and make money in a short while instead of burning funds on betting with the hope of making something tangible? Banks call it fixed deposits. A fixed deposit allows the bank to move parts or the whole of your money for a period of time. The good part is, that money gets to appreciate since banks allow certain percentages to be added to them daily.
4. Invest Your Money
Rather than just saving your funds, you can make smarter decisions by investing your money into profitable channels. You can approach the bank to offer you great deals that will make you more money and strike a deal. Alternatively, you can use your money to buy Cryptocurrency such as Bitcoin, Ethereum, and others when they are less expensive and sell them off when their prices increases.
5. Become Financially Literate
Financial literacy is the overall factor that can pull one out of the shallow mindset of how to handle money. When you fully understand how money works you hardly have any difficulty in getting to make tons of money either through investment, saving, or buying assets which are the healthiest ways to make financial progress. Steps to become financially literate;
- Take a Money-making course
- Understand how money works
- Read read and read
- Buy assets not liabilities
- Pay yourself first
- Make money work for you
Gambling can become very addictive and lead to huge financial wreck. It requires the highest level of risk which is why persons under the age of eighteen (18) are not allowed to participate in most gambling games. The government knows this which is why they have continued make attempts over the centuries to bring an end to it. Gambling has never been a way to financial freedom and will never be, the earlier gamblers realize this, the better for them to make a change.