When Gambling Comes a Problem
It's best to quit while you're ahead
I have talked a lot about my struggle with alcohol and cigarettes, but I have to come clean: I have another addiction.
I am a gambling addict, and although I only gamble once every few weeks, it has cost me a significant amount of money. Even after winning $500 earlier this week, the amount I lost in the past outweighs my win.
Gambling is classified the same way an addiction to drugs is. When you win, you get a dopamine hit and feel good. This is what sucks you in. Soon, you're back at the casino.
In this post, I will talk about my gambling addiction. I will discuss the difference between gambling responsibly and when it's a problem. Some people do win, but they are rare.
So when does gambling become a problem?
Online cryptocurrency casinos
Alcohol and cigarettes are not my only addiction. I have a significant gambling addiction. Though I have signed a volunteering self-exclusion agreement with my local casinos, I would play Blackjack online.
The websites I use are cryptocurrency casinos. I have won a few times, but most of the time, I would lose. I could be a better blackjack player. I make mistakes when playing hands.
The advantage of playing at an online crypto casino is making $1 bets. The downside is that these sites have a minimum withdrawal requirement, meaning you can only cash out if you have a minimum of $150 winnings.
It's fantastic that you get paid in crypto, but the minimum requirements make it more likely that you will lose everything. If I can, I will go to a real casino.
Gambling can be fun if done in moderation
What does responsible gambling look like? It would be best if you only went into a casino with no more than what you can afford to lose. You make a budget and stick with it. If you go in with $20 and lose it, that's it no more, and you leave.
Some people will go into the casino with more than they can afford to lose because these gamblers think they will make a huge win. I've seen people at the blackjack table bet $300 and lost, only to pull out another $500 and buy more chips. It's wild. Some people do not respect money.
I have done this myself. I took a cash advance on my credit card to play Pai Gow poker, lost everything, and pulled out another $500. I was creating more and more debt for myself. Ultimately, I went bankrupt.
I owed a few thousand dollars on that credit card anyway, and I had no plan to pay it off. I was pulling money from the ATM like water. Gambling becomes a considerable problem when you keep pulling out money chasing a big win.
That big win never comes, and you're out all your money. But if you set a limit and stick with it, gambling can be fun.
Sometimes, you get lucky
A couple of days ago, I received my ID in the mail, and the first thing I did was go to the casino. I took out $40 and played a few hands of Blackjack. After a few hands, I was down slightly, so I went to the Pai Gow table. Shortly, I left with $180.
I returned the next day and got a straight flush, playing Pai Gow again. The hand may have pushed, but I won a few hundred dollars in bonus money. In less than an hour, I had $420.
I get some incredible luck sometimes. When I won the $420, it reminded me of when I went panhandling and was given $100 in a few minutes. I am only sometimes as lucky as I have lost a significant amount of crypto I mined at online crypto casinos.
Even with a big win, I am still down
If you were to total up all my wins and losses, even with that $500 I won this week, I would still be down significantly. I got my tax return a few years back and gambled the entire $1500 away.
Part of the reason why I gambled that money away was because I was drinking and smoking a lot. That $1500 was gone, just like that. This is why I am still down, even after a significant win.
The problem gambler will be down and make significantly bigger bets, hoping to win their money back. This is how people go into the casino and walk out with nothing.
The gambler's mentality is "I'll win it back. But they never do.
The idea of quick cash is very enticing
Earlier this week, I went in with $40 at the casino and won ten-fold my money in less than an hour. This is how people get addicted. They win a big hand, and then they go back.
No matter how often you go, you will lose everything if you return to the casino. Even with games involving skill like Blackjack, the odds are still not in your favour, and the more you play, the more you lose.
When you win, you get a hit of dopamine. When you get a huge win, your brain releases a lot of dopamine, and you associate winning with feeling good.
No matter how many times you go back and lose, you will remember the time you won, even after losing ten times in a row. The casinos know this, so they don't care if you win a few hundred dollars. They know you will come back.
That's why they give you points for gambling. They know you will come back if they reward you in the same way as frequent flyer points.
Conclusion
Gambling is classified the same way as drug addiction. The same parts of the brain light up when you gamble. When you do, you get a rush. It takes significant willpower to quit while you're ahead,
There have been many times when I gambled and was ahead. Instead of cashing out, I decided I was having too much fun and continued playing. A few minutes later, I lost everything.
I am certified under the Mental Health Act, meaning I am considered too mentally ill to live on my own. Thus, some of my rights are restricted. The housing I'm in took my ID, meaning I won't be able to return.
Gambling is very addictive, and if you are going to gamble, do it responsibly. Set a limit, and don't go under it. Don't go more than once a month. You can have some fun, but people get in trouble when they bet their rent money away.
If you are disciplined and intelligent about gambling, you may win more than most gamblers. Just remember, statistically, the more you play, the more you lose.
If you are the type to chase losses, you shouldn't gamble. Even once a month is playing too much.
It's best to quit and never go back when you're ahead.