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The Odds of Winning and Effects of Gambling . The Odds of Winning. The odds always favor the house.
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The Odds of Winning • The odds always favor the house. • For example, the house's take on a slot machine can be as high as 35%. This means that if you bet ten dollars, you can expect to walk away with only $6.50; if you bet $100, you can expect to keep only $65, and so forth. • Although some gamblers are ahead temporarily, in the long run the odds will prevail, and the gambler will lose.
Chances of Winning Powerball® • The worst odds are in the large multi-state lotteries like the Powerball®, and they are almost non-existent. • Chances of winning are worse than one in fifty-four million. • Put in perspective, this means that if all of the losers for one drawing of this lottery were to line up, the line would stretch most of the way around the world. • You are far more likely to be injured by a lightning strike this week than to win this jackpot. • If you were to read aloud the names of the losing ticket holders for just one drawing, it would take about three and-a-half years.
Think about this: • Instead of playing the lottery, what if $2 per week were saved and invested yearly in a basic passbook savings account earning 4 percent per year? • What would be the total in the bank account after 10 years? • $1,248.42 versus $1,040 spent on lottery tickets
Is Gambling Really a Problem? • A small percentage of those who gamble suffer enormous consequences socially, economically, and psychologically. • The consequences are further reaching than just the individual gambler. • The individuals, families and communities all suffer from problem gambling.
Categories of Problem Gambling • The National Council on Problem Gambling says problem gambling is "gambling behavior which causes disruptions in any major area of life.” • Pathological gambling is considered a more serious form of problem gambling. • We often hear the term "gambling addiction" applied to pathological gambling.
National Statistics • Nationwide, 3-4% of adults (6 to 9 million people) meet criteria for a gambling problem. • 2 million of these are considered pathological gamblers. • The estimated social cost of problem gambling from bankruptcy, divorce, job loss & criminal justice costs was $6.7 billion last year.
Gambling to Fund Education • One of the main arguments used in favor of legalization of gambling and institution of lotteries is that the resulting tax revenue can be used for good purposes that otherwise would be underfunded. • Schools are an example. • The most obvious flaw with this argument is that in many cases, the indirect costs of gambling to the state such as increased crime and lost productivity, actually cost the state more than it gains in increased tax revenue.
Criminal Activity from Gambling • Studies of Gamblers Anonymous members report that half of the participants had stolen to gamble and over one-third had been arrested. • The majority of gambling-related crimes are non-violent. • Embezzlement, check forgery, credit card theft, tax evasion, insurance fraud, employee theft and fraud are common gambling-related crimes.
Criminal Activity from Gambling • It is well established that crime rates rise substantially in areas where gambling is legalized. • One striking example comes from Atlantic City, New Jersey, where according to the FBI, larceny increased by 467% in the first nine years after gambling was legalized there.
Criminal Activity from Gambling • The state of Illinois, when debating whether to permit casino gambling in Chicago, estimated that increased costs in law enforcement would easily require more than all of the one hundred million dollars in expected tax revenue that gambling was supposed to bring the state. • Some estimates placed the increase in law enforcement costs at ten times that number--over one billion dollars annually.
Family Violence • Studies have found that between 25 to 50 percent of spouses of pathological gamblers have been abused. • Case studies of 10 casino communities also revealed that the majority of those communities witnessed increases in domestic violence related to the opening of casinos.
Gambling and Suicide • Several countries have noted that the percentage of problem gamblers with suicidal thoughts and/or depression is higher than the general population.
Who is Gambling? • A recent study by the Annenberg Foundation found that almost 600,000 youth (aged 14-22) reported gambling on the internet on a weekly basis. • This age group also has the highest rates of gambling problems.
Signs of a Gambling Problem • Being preoccupied with gambling (i.e. reliving past gambling experiences, planning the next venture, or thinking of ways to get money with which to gamble) • Being secretive about gambling habits, and becoming defensive when questioned. • Needing to increase bet amounts when gambling in order to achieve the desired "high“.
Signs of a Gambling Problem • Trying unsuccessfully to control, cut back or stop gambling • Becoming restless or irritable when not gambling • Gambling to escape problems • "Chasing" losses with more gambling • Lying about the extent of gambling • Committing crimes to finance gambling
Signs of a Gambling Problem • Jeopardizing or losing relationships, jobs, education or career opportunities because of gambling. • Relying on others to relieve a desperate financial situation caused by gambling.
Help with Gambling Addictions • The National Council on Problem Gambling – Offers a confidential, 24-hour helpline for problem gamblers or their family members. Call 1-800-522-4700. • Gamblers Anonymous – Twelve-step Gamblers Anonymous program, a nationwide support network of meetings to assist people who have a gambling problem.
