As a social commitment to the student community and after repeatedly hearing several tales of students loosing money at casinos, I decided to write a post on this topic. If you are new to Australia, unlike in many countries, gambling and betting is legal here. This gives easy access to anyone to gamble or bet online to win or loose money but the latter prevails eventually contributing to flourishing casinos worldwide! Below are the main reasons why I feel atleast students should stay away from gambling.
Winning money tastes sweeter than when you loose
Often when you loose 50 dollars at a casino you obviously feel bad but on the flip side when you win 20 dollars you feel much better that you got money for free! It is physiological factor that when you loose, you often blame your bad luck and get away but when you win, you take it too serious and credit none other than yourselves.
This nature of people contributes the most to the success of casinos. You easily forget when you loose some money but you always remember how great it felt when you earned couple of hundred dollars in a matter of minutes which would have taken days of hard work to earn otherwise. This feeling motivates and attracts everyone to the gambling table time after time. The greed for easy money is in everyone and the hardships in a student’s life just makes it a “too good to be true” dream which unknowingly pushes you into a well of debt.
You have fees to pay and expenses to meet
As a student studying in any university and working simultaneously, it is hard to manage study, work and finances. Gambling, betting and similar practices might lure you into serious situations by placing the hard earned or borrowed fund at stake. If you win some cash, great! But very few walk away with the money they win. Eventually, the winning feeling leaves such deep desires in your heart to win again and you end up giving away the same money or even more at the deal table!
Chasing your losses – Bad Idea
It is natural that people can’t initially accept the fact that their hard earned money, fees or living expenses have just been taken away by the casino. The previous few experiences of winning will motivate you to chase your losses in the hope of winning back what you lost. The sad part is that in most cases people end up loosing more! I know students who have gambled and lost their entire semester fees (which is several thousand dollars) in the hope of making easy money and then landing in bigger trouble. If you don’t know to walk away from your first loss, better don’t attempt gambling at all.
Eventually the casino wins
if you can just visit a casino and look around, you will observe two facts, 1.the casino business is flourishing (means they eventually make a lot of money) 2. There are lot of people loosing money. On the other side it’s natural that you see a lot of people winning too, that’s again how you get encouraged to play more but remember, you don’t know how much that person lost the day before.
There is no logic to how luck works: great mathematicians and researchers have spent countless hours on proving the probability of winning at popular games like roulette but everyone of them just didn’t have the answer to the way pure luck works. Understand that how ever you try to calculate and correlate the result, gambling is pure luck!!
The Essence of the discussion I want to strongly convey to all fellow students is that if you have a lot of money to shell, go try it out for fun, but never even dream to make a living out of luck because there are two kinda of luck – good & bad!!