Where does the buck stop?

 

A question I am often asked is “how can gambling ever be a responsible endeavour?” If I had to be perfectly honest with myself, it is quite an incongruous statement and not one that can be answered simply. You see, the subject of gambling is indeed a divisive one. On the one hand, you have those who will vehemently oppose anything remotely gambling-related and at the other extreme end, you have the devil-may-care crowd where anything goes. Somewhere in between exists a swathe of punters who fancy a flutter every now and again who partake in gambling on occasion and when they do, they do so responsibly, that is, without placing themselves in jeopardy.

 

It is no secret that gambling has acquired a bad reputation for a raft of reasons and by no means do I intend to downplay any of the negative connotations this industry has perhaps deservedly acquired over the centuries, being one of the oldest forms of entertainment known to man. Entertainment. That is the key word. Fun, pleasure, amusement, enjoyment. As long as one approaches gambling as purely another form of entertainment, it delivers exactly what it promises. No grandiose expectations or flights of fancy.  Any other approach to gambling will invariably prove detrimental if not in the short term, certainly in the longer term, potentially leading to financial ruin, social dysfunction and perhaps worst of all, suicidal tendencies. Why? Because this approach is likely based on unrealistic expectations and dare I say, fantasies one buys into, only to discover that the house really does always win in the end. This is a scientific fact. Each game you play at the casino has an in-built statistical probability against you winning. This is not to say that someone doesn’t get lucky on occasion since the house advantage is not insurmountable but the fact remains that the more one plays, the less likely it is to walk out with more money than you went in with. Therefore, it will be very wise for anyone thinking of gambling with money to consider the probabilities or odds games offer players and align their expectations and spend accordingly. This approach keeps it ‘real’, limiting one’s exposure and risk and if you get lucky, then it would make sense not to tempt fate by continuing to gamble. Why not enjoy your winnings on a nice meal or better still, invest your winnings?

 

In summation, it is unlikely there will ever be consensus concerning gambling but as long as it is a regulated enterprise it remains one of the most popular forms of entertainment around and despite all the risks and bad publicity, it is an activity that can be enjoyed responsibly however there exists a minority that cannot do so and for this cohort, total abstinence is not only recommended but should be strictly imposed through proper regulation and best practise and should involve all industry stakeholders.