Online roulette has become more popular over the years. The internet gives us access to online casinos and removes many of the barriers that exist with land based casinos.
Understanding the psychology of online roulette players will give us insight into their motivations and behavior. This article will look at several psychological factors that affect online roulette players.
The Fun Factor
Gamblers get a dopamine hit in the brain which is linked to pleasure and reward. The fast spinning and instant rewards of online roulette can be pleasurable.
Even the thought of losing can be exciting as they experience the near miss of nearly winning so they keep spinning for that big win.
This is different from other casino games like poker or blackjack where skill and strategy are involved. Some players are attracted to online roulette because it removes skill as a factor.
No knowledge or experience is required, it levels the playing field. Weak players have as much chance of winning as skilled players. This gives players an illusion of control and hope that the next spin will make them profitable.
The Near Miss
Research shows that near misses when a player almost wins activate the reward centres in the brain just like full payouts.
The probability of recouping is 1 to 36 while the probability of winning for the player is 1 to 37 by coming within one slot of a winning number in the roulette game. There is also a 1 to 37 win probability if the ball lands on the player’s target number in the roulette game.
This near miss gives the players the feeling that they are going to get a big “runner’s high” as they can only win the biggest payout if the ball lands just one slot from the player’s designated win number in the roulette game.
The House Edge
The house edge is the mathematical advantage the casino has over the player. At a standard American roulette table with 38 numbers the house edge is 5.26%. This means over time the casino will win on average $5.26 for every $100 bet.
In construct, the house edge is unbeatable so the casino will always win in the long run. But most roulette players have cognitive biases and use flawed thinking. They focus on the short term win and ignore the long term loss.
Players see their wins as skill and losses as bad luck. This gives them an illusion of control over random outcomes.
Chasing Losses
After a big loss many players fall into the trap of chasing losses by playing to win back their money.
They often increase bets after losses thinking they are due for a win that will get them back their loss. In reality past results have no impact on future spins. Bigger bets just means bigger losses.
Chasing losses means a lack of understanding of probability. Cognitively, players can’t accept a sunk cost so they keep playing rather than accept a loss. This irrational thinking leads to a vicious cycle of chasing losses with bigger and bigger bets.
The Gambler’s Fallacy
The gambler’s fallacy is when players see patterns in truly random outcomes. If the roulette wheel lands on black multiple times in a row some players think red is more likely on the next spin because the results should even out in the long run.
However, in reality, each spin is independent and hence, the chances are 50/50. Believing losing streaks to end is an illusion of wishful thinking.
This delusional thinking makes the gamblers bet more and more after losing, hoping that, their luck will turn around. Online features like revealing the historical figures can trigger the gambler’s fallacy to see the players search for the patterns.
Superstitiousness and Rituals
Online and live roulette players do superstitious things to induce luck and win. Blowing on dice, crossing (fingers) and wearing lucky clothes and carrying lucky objects etc.
These create a sense of control over chance outcomes. Rituals provide mental anchor and orientation in a random world.
In online roulette there is no opportunity to do any ritual but players may have lucky numbers or visualization rituals before they place a bet. These superstitions arise from cognitive biases of causal inference between unrelated events.
Optimism Bias
Optimism bias is the tendency for individuals to overestimate the likelihood of favorable events and underestimate the likelihood of adverse events. Players on the roulette display optimism bias by overestimating the chance of winning.
They think about high jackpots instead of low chance of winning and they believe, intellectually, that winning is more than not losing.
Though intellectually they might understand the house edge, they are psychologically susceptible to optimism and overconfidence.
Online casinos arbitrarily increase optimism with advertisements of great jackpot winners. Optimism is why the players keep playing even with a poor chance of winning.
The Psychology of a Win
Winning stimulates a powerful neurological process. Winning activates the brain’s reward circuitry and releases dopamine, giving the person a sense of happiness, relief and pride.
Winners get a “gambler’s high” and feel energized and excited. This high is a strong motivator to keep playing. One win can create an unrealistic expectation of more wins to come.
In reality, a win resets the odds; it doesn’t predict future events. But the joy of winning can override rationality and make us take more risks.
