Wager Mage
Photo by Nagihan  Gülmez Pexels Logo Photo: Nagihan Gülmez

Why do old people gamble so much?

"They go to the casino to escape regrets, loneliness, isolation, sadness. And when they start losing money, they find themselves with even bigger problems and regrets." Video gambling machines, now permitted in more than 40 states, are the overwhelming favorite among older casino-goers, Hunter says.

What does +8 spread mean in basketball?
What does +8 spread mean in basketball?

This situation is commonly referred to as covering the spread. For the New York Knicks to cover the spread at +8, the team would have to either win...

Read More »
Can you make a living by gambling?
Can you make a living by gambling?

The short answer is yes, but becoming a professional gambler is neither easy nor without its financial perils. Gambling for a living invites a...

Read More »

Older people with dementia are at especially high risk because they are unable to recognize limitations or use appropriate judgments. And dopamine agonists, a class of prescription drugs used to treat the symptoms of Parkinson's disease and restless legs syndrome, seem to be associated with compulsive gambling as a side effect, according to Marc Potenza, M.D., a professor of psychiatry at Yale University who studies problem gambling. Psychologists also suspect that people are more likely to run into problems if they turn to gambling for the wrong reasons — to escape loneliness, depression or even chronic pain. "For a lot of the older people we see, it was never about the money," says Gordon Greco, 62, a compulsive gambler most of his life who now works as a counselor for the Problem Gambling Center in Las Vegas. "They go to the casino to escape regrets, loneliness, isolation, sadness. And when they start losing money, they find themselves with even bigger problems and regrets." Video gambling machines, now permitted in more than 40 states, are the overwhelming favorite among older casino-goers, Hunter says. And that puts them at even greater risk. Although any kind of gambling can become addictive, video slot and poker machines are the most seductive because they offer the greatest escape, experts say. "Machine gambling is really the crack cocaine of compulsive gambling," says Lia Nower, the director of the Center for Gambling Studies at Rutgers University in New Jersey. Indeed, in Addiction by Design: Machine Gambling in Las Vegas, Massachusetts Institute of Technology anthropologist Natasha Schull argues that mechanical rhythms that lull players into a trance-like state are deliberately built into electronic gambling machines. In what Schull calls the "machine zone," gamblers quickly lose track of daily worries, social demands and even their bodily needs. Some psychologists and psychiatrists specialize in treating gambling addiction. Compulsive gamblers, these experts say, suffer from low self-esteem and fall into two broad categories: action gamblers, who relish excitement and believe they can beat the house, and escape gamblers, who seek to forget about pain or trauma in their lives. Gamblers Anonymous programs are available in most parts of the country. Breaking a gambling addiction isn't easy, but GA programs do help some people. "It saved my life," says Marilyn Lancelot. After being released from prison, she began attending GA meetings. She slowly paid off her debts and has managed to steer clear of gambling. "For a recovering gambler, there's always the itch to try it again," she admits. "But I know now that if I give in to it, I'm dead."

Is withdraw taking money out?
Is withdraw taking money out?

A withdrawal involves removing funds from a bank account, savings plan, pension or trust. Some accounts don't function like simple bank accounts...

Read More »
How can you tell if someone is addicted to gambling?
How can you tell if someone is addicted to gambling?

Being preoccupied with gambling, such as constantly planning gambling activities and how to get more gambling money. Needing to gamble with...

Read More »

Is Martingale trading profitable?
Is Martingale trading profitable?

Based on the table, it is clear that the Martingale strategy, by doubling the invested amount after every loss, helps you gain more profit than the...

Read More »
What was the most money ever gambled?
What was the most money ever gambled?

William Lee Bergstrom (1951 – February 4, 1985) commonly known as The Suitcase Man or Phantom Gambler, was a gambler and high roller known for...

Read More »
Is blackjack more luck or skill?
Is blackjack more luck or skill?

Purely based on statistics, some casino gamblers get lucky and win money. Blackjack, however, can be beaten based on skill—no luck involved. Jan...

Read More »
What position is 14 in rugby?
What position is 14 in rugby?

14) He should be looking for work all the time and not be content to just stand on the wing waiting for the ball. -Ability to keep the ball alive...

Read More »