THE HOUSE ALWAYS WINS.
I am sure a lot of us must have heard this expression that has become synonymous with betting so much. Just how true is it? Where did the saying originate from? That will be my entry point to this topic regarding the potential legality or illegality of gambling. The saying the house always wins is alone that is as old as the oldest casinos ever built. Let us examine why this is the case.
I can wholeheartedly assure you that in this life, first and foremost, everyone is out for themselves and themselves alone. Capitalism has been around for a very long long time, and I can undoubtedly assure you that nobody starts a business that they can not or will not profit from. The person that opened that casino or betting website is doing so in the hopes that at the end of the month on year, his account ledgers and in the green and positively booming with profit.
The house always wins because every single betting establishment has intentionally rigged the games such that they have the highest returns possible at the end of the day. Like I said, they are in this for the profit. If it wasn't profitable, there wouldn't be so many betting establishments all over the world.
Statistically, betting or gambling isn't a smart way to make money. A quick search on Google will reveal that only about 5% of gamblers are able to win somewhat consistently, and only 1% of gamblers are able to make serious money from it to support themselves. In the face of such stupendous odds, isn't it curious then that people still patronize betting and gambling establishments as frequently as the sun rises? Why does this seem to be the case?
Chance! Everyone wants a chance. And for some reason, people keep believing that today is gonna be their day. It is often hard to find humans who are able to keep their emotions in check and not get controlled by them. People rarely toe the lie of pragmatism or have a serious relationship with reality, instead most people hang on to some concentrated, exaggerated form of optimism, even in the presence of practical statistics that very much prove otherwise.
If gambling was a great way to make money, why aren't many among the rich serial gamblers? I can assure you that the rich didn't make their money from gambling or betting. Isn't it very curious that statistically, most gamblers are in the low and middle income group.
A lot of people often belabor under the idea that they will stop gambling the moment they have one huge lucky break. However, what they fail to take into account is the fact that by the time they get that big lucky break, a gambling or betting habit has been formed that will eventually lead to them mostly using all of the winnings from the lucky break and effectively giving it all back to the house because the house always wins.
This particular point above is mediated in the brain by very strong neurochemical pathways mainly dependent on dopamine and epinephrine or adrenaline, effectively making this into an addiction over time. There are multiple stories of gambling addiction that can sometimes be worse than an addiction to hard drugs, leading to penury, loss of trust from family members, and eventually isolation and despondency.
Regarding the legality of this treacherous behavior, on the one hand, I do think the government can do us all a favor and outlaw it. On the other hand, I think it is a free world and anyone can do whatever they seem fit with their time and money. After all, smokers are liable to die young, but cigarettes are still sold in every corner of the world.
Personally, I think it'll never be illegalized for the same reason tobacco companies are still in business. There are strong multinational corporations making billions of dollars off the ignorance and naivety of the average citizen. The politicians who can pass the bill to outlaw these things also have huge stakes in those companies. Sadly, the world is a very weird place, to say the least.
In conclusion, gambling is...how about you make your own conclusion from all my ramblings above.
Ciao.
