Expectancy theory: gamblers have expectations about future benefits and costs
of their behaviour. If they expect the benefits to outweigh the costs, addiction
becomes more likely.
Cognitive biases/distortions lead to distorted understanding of chance
outcomes. Gamblers continue to gamble due to cognitive biases, like mistaken
beliefs about luck. These biases influences how gamblers think about their
behaviour, what they choose to pay attention to and what they remember or
forget – they will ignore info that challenges their chances of winning and
selectively remember what supports it like the amount of wins.
Cog biases 4 categories:
- Skill and judgement. They have an illusion of control meaning they
overestimate their ability to influence a random event like being skilled
at choosing lottery no
- Personal traits/ritual behaviours – addicted gamblers believe they have a
greater probability of winning because they are lucky or superstitious
behaviour like a lucky top
- Selective recall – gamblers remember details of their win but forget
their losses
- Faulty perceptions – distorted views about the operation of chance.
Gamblers fallacy = belief that a losing streak can’t last and must always
be followed by a win.