Explained: gambling

What is the gambling industry built on?

• People losing

• People winning

• People buying margaritas at the casino bar

• Movies such as Ocean's 11 and The Hangover

What do you call gambling apps that are made like video games but require you to buy chips to play?

• Mobile casinos

• Social casinos

• Clash of casinos

Why do dice have dots instead of numbers?

• They are too small to fit numbers

• They are not used for numerical purposes

• They predate our number system

• The manufacturer forgot to add the numbers

What is the following law called: In a small slice of time, you can beat the odds, but with enough play, you can’t escape them

• The law of life

• The law of the odds

• The law of financial contingencies

• The law of large numbers

When somebody keeps playing because they think a win is “due”, that is called

• The gambler's fallacy

• Luck of the draw

• Statistics

• The old man's fallacy

The belief that you can increase your odds in the face of pure chance is called

• The illusion of control

• Stupidity

• The gambler's fallacy

• Wishful thinking

What do people call slot machines?

• A great time

• Fun boxes

• One arm bandits

• Money pits

True or false: New York once made slot machines illegal

• True

• False

The longer people sit at slot machines

• The hungrier they get

• The more sweaty they get

• The richer they get

• The more money they spend

True or false: The anticipation of a possible reward, not the reward itself, is what spikes the brain with dopamine.

• True

• False