I've been in the gambling industry working the worlds biggest operators for 7+ years. Business is booming during times of financial downturn, as desperation drives users to gamble beyond their means to cover that overdue rent and to afford their ever increasing expenses - the chat transcripts from customer contacts contain everything from begging for free bets to suicide threats). When times get worse for the individual they get better for gambling companies - only the most destructive industries get that privilege during a recession.
Gambling operators don't rob you straight away, so it's very slipper slope the more you play. Their RTP usually hangs just a single-digit% under 100. You win a spin, you loose a couple more then win again, but over time you're loosing 6-9% monthly. [When Facebook saw this, they understood that a seemingly random win/loose pattern keeps a human engaged as they're waiting for that next win, and the anticipation of that release the dopamine that's going to form the habit. So they decided to move from their chronologically ordered news feed, into a 'algorhytm drivern' one and now you're seeing one relevant post, then 2 more that seem total BS, then an AD, then another good post... Keeps you scrolling just like the RNG with crafted Pay Lines on a slot keeps you spinning.]
The removal of the online gambling prohibition in the US has been a huge source of revenue and it's easy to see why: online gambling means there are no barriers to entry, you don't have the stigma associated with going into a retail place, nor the distance to keep you away, there's no business hours as it runs 247 etc. At the same time, it's added another plague to the already battered American spirit - just more proof that government and it's agencies don't care about the individuals.
The regulators are in kahoots with the oeprators; legislation they draft is known beforehand and whilst it looks like it's meant to protect customers it's actually helping operators to keep you on for longer (ex: UKGC upcoming ruling a max spin of 2;5 GBP on slots isn't a barrier to overspend but rather a way to prolong session lenght).
Oh one last thing, because they are online, most gambling companies are in fact tech companies and the level of delusion within is something else (internally, our divisions are called gaming not gambling - hilarious).
Wow, that's some deep insight into the industry. It's crazy how theyâve designed it to keep people hooked like that. The way you explained it really shows how messed up the system is. Itâs important to be aware of these things and not get caught up in it. Thanks for shedding light on this.
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