Evidence suggests that gamblers engage in some illogical conduct, but for most people, gambling is merely a kind of entertainment. Is gambling a hobby or a serious problem? Something else, according to the findings of a recent academic study, who found that most individuals have fixed “loss thresholds” they won’t go over while gambling.
They Study Relevant Questions
To begin, can one develop a gambling addiction? The second question is whether or whether customers exhibit “irrational” ideas in their gaming activity?
Do you get Addicted to Gambling?
There was evidence, as could be expected, that some gamblers display addicted behavior. Whilst still significant, this proportion was low (representing only 8% of all customers) and consistent with findings from other studies. “ It has been estimated by the medical community that between 5% and 8% of gamblers exhibit addictive behaviors.
“Irrational” Consumer Beliefs about Gambling?
Narayanan relied on a standard definition of addict from the field of economics, which states that addiction arises when a person’s previous “consumptive” conduct has a substantial beneficial effect on that person’s current behavior. There is no doubt that compulsive gambling is a real problem, but our findings suggest that casinos serve primarily as tourist attractions.
The study found that casino marketing causes customers to play and bet more. Narayanan and Manchanda found that marketing works best on addicts, which is concerning.