Thursday, October 24, 2013

Online Gambling

Believe it or not, when gambling online any given day, the chances of emerging a winner aren't too bad—about 30%. But continuing to gamble is a bad bet. Just 11% of players ended up in the black over an extended period, and most of those pocketed less than $150.

The skew was even more pronounced when it came to heavy gamblers. The top 10% of bettors, those placing the largest number of total wagers over two years, about 95% ended up losing money, some dropping tens of thousands of dollars. And big losers of more than $5,000 among heavy gamblers outnumbered big winners by a staggering 128 to 1.