Showing posts with label gambling. Show all posts
Showing posts with label gambling. Show all posts

Wednesday, June 20, 2012

Don't Gamble with Friends


MRI scans revealed higher activity in the brain's striatum, linked to rewards, when a gambler beat a friend in the lottery vs. when the gambler won alone (the medial prefrontal cortex, linked to social reasoning, showed similar patterns). Victorious group gamblers were also more likely to behave riskier in subsequent lottery trials. In other words, our brain values winning amongst others more than winning alone.

Researchers see an evolutionary correlation as strong incentives exist for high social rank, as dominant animals gain privileged access to limited resources and being alone induces risk-aversion because one bad gamble can be fatal especially without a social network.

Wednesday, February 16, 2011

Gamblers Like Almost Winning




Research reveals that the same brain areas in gamblers that are excited during a win also activate at near wins - i.e. if you almost win, you are just as happy as when you do win, which is good news for the casino.

15 people underwent brain scans while gambling. Near misses activated the brains’ ventral striatum and anterior insula areas, also activated during random wins. The insula has also been associated with drug craving and other addictive behaviors.

The effect only happened when gamblers had control of the lever. The inverse occurred when a computer took control where near misses significantly demotivated the gambler to keep playing, and complete misses kept momentum alive.

Friday, November 19, 2010

Don't Play The Lottery





Michael Orkin, professor of statistics at California State University at Hayward, argues that if you have to drive 10 miles to buy your lottery ticket, odds of getting killed in a car crash are 16 times greater than your chances of actually winning the lottery. Wait, what about walking? Well, then you face a near 100% chance of losing your money.