The topic of “gambling” has long been controversial. Defined as “taking risky action in the hope of a desired result” it’s strongly looked down upon by society. The stand out word for me in the definition is “risky.” After studying the industry long enough, it becomes clear that it’s a strategic numbers game, with the odds heavily set in the bookmakers favour.
Throughout the years there have been thousands of jokes about winning the lottery, yet I haven’t heard one person ever question the return percentage on a £1 ticket. Although hard to judge, research leads me to believe it’s around 51%. This means every pound staked returns a ticket worth just over 50p. Whilst there are a very select few that win millions, there are many millions more that lose that pound coin.
Online gamblers may snub this information, assigning it to the fact that lottery proceeds help fund many welfare benefits such as sport and health. What they don’t realise however is that by gambling online they are being exploited in a very similar way.