Distorted beliefs about luck, skills and gaming knowledge, and their impact on gambling behavior

Recreational and problem gamblers alike hold some irrational beliefs about gambling. Erroneous gambling related beliefs (EGRBs) imply beliefs in luck and skills, and illusion of control as players develop various winning strategies based on broader beliefs about the nature of randomness. Gamblers’ distorted beliefs of luck and skills result in problem gambling. People think that luck will change, and they will win their lost money back. However, each gambling event is independent of the previous one, like each toss of the coin is completely independent of the previous tosses. So, the odds in your 8 th bet will no more be in your favour simply because you lose the earlier seven bets. Over time, the more you risk, the more you lose.

In the context of online gambling, best online casinos Canada offers a variety of games to gamblers that can be accessed from anywhere. These include video slots, jackpots, table and card games, and sportsbooks. There are noticeably more online games than land-based games. No restrictions on bet admission lead to bigger jackpots for all players.

Video slots

Video slots like Gonzo’s Quest, Starburst, and Thunderstruck are among the most popular ones. Low volatility video games award small but frequent wins, while high volatility video games give a single, chunky win.

Jackpots

Jackpots like Powerball, Buffalo and Bonanza can be progressive, pooled, fixed or local, and have the highest reward that a video slot can pay.

Table and card games

Table and card games like blackjack, roulette and baccarat are skill-based games, and are found in different variants including Pai Gow and Red Dog.

Live games

Live games like poker, blackjack and baccarat are streamed and played live in full HD.

Sportsbook betting

Sportsbook betting, like soccer, baseball and basketball offers a live betting feature, so players can make wagers as the game unfolds.

Specialty titles

Specialty titles like Bingo, Keno and Wheel of Fortune are distinct and general.

Other beliefs and myths about gambling

Gambling will eventually pay off

Gamblers have a persistent belief that the next bet will pay, despite repeatedly losing the next bet. There is a delusional belief in the gambler that a stroke of luck is only a wager away, that results in gambling addiction. The belief that gambling will eventually pay despite losing a considerable about of money reinforces belief in gambling, and is the driving factor behind compulsive gambling.

Irrational belief in a big win

Those who are not addicted to gambling, they are clear when enough is enough. They walk away from their losses and get on with life. However, this does not happen with a compulsive gambler. They keep coming back with the irrational belief of an eventual big win.

I’m lucky, I almost won, and will make it this time

If you almost won, that doesn’t mean you are due for a real win. Future gambling outcomes are in no way influenced by the previous ones.

Playing multiple games increases the chances of winning

You may win more often by playing two slot machines or poker games at once, but you will have to spend more also. And remember, the more you play, the more are your chances of losing.

Betting on the same number will increase my odds

The outcomes of most games of chances, particularly lotteries and slot machines, are completely random, and cannot be altered, no matter what you do. Betting the same number each time won’t help you more than betting different numbers. No matter how many times you have betted for the number or how many people have betted on a particular number, the odds remain the same each time.

Loss Disguised as a Win (LDW)

Slot machines are programmed to promote problematic play, and win for the house. They operate on a principle called Loss Disguised as a Win (LDW) wherein the player is given a win of credits with a spin, which is fewer than the original wager. These frequent wins keep the player engaged, despite a net loss.

Gambler’s Fallacy or “Monte Carlo Fallacy”

Many people suffer from the “Gambler’s Fallacy” or “Monte Carlo Fallacy”, which is an erroneous belief that if something has happened a lot of times in the past, it will happen less in the future, and vice-versa. The fact is that each event is independent of the earlier outcomes. The odds of a head after 10 successive head tosses on the 11th toss remain 50:50, it is not affected anyway by earlier 10 consecutive head tosses. The same goes with gambling. Odds and chances are mathematical probabilities, and are not controlled in any way by metaphysical powers or luck.

It’s my lucky day

Simply because you feel that it’s your lucky day, it’s not that you are going to win. Needing money, or hoping to win, has absolutely no influence on the outcome of a game of chance.

Signs of problem gambling

Gambling becomes a problem when you have trouble stopping. Warning signs of problem gambling are:

 Feeling guilty or worried about gambling
 Gambling to win back lost money
 Borrowing money, selling things, and committing criminal acts to obtain money for gambling
 Experiencing extreme highs from wins, and extreme lows from losses

Financial implications of problem gambling

Financial troubles associated with problem gambling include reduced disposable income, financial insecurity, job loss, and increased debt.

Signs of financial problems include:

 Overdue and unpaid bills
Increased spending on credit cards
 Repeatedly borrowing money from friends and family
 Secretive about money problems
 Receiving calls from collection agencies

Gambling is not for making money, seek help if required

Gambling addiction results in problems that extend well beyond financial losses, such as relationship issues, career-related consequences, and social isolation. If you can afford it and play only for recreational purposes, not for making money, gambling isn’t really a problem. Remember that gambling is not a way to make money. If you have become addicted to gambling, seek the help of professionals with recovery, simply don’t rely on your will power. Because if you could do it with will power, you would have stopped it on your own before your life was devastated.

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Alberta’s Sports Betting Industry

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Alberta’s Sports Betting Industry

Published on February 21, 2025

Todayville Content Team

The limited nature of sports betting opportunities in Alberta makes it difficult to judge just how successful a full launch will be, with only single-game sports betting allowed since Bill C-218 was passed in 2021.

However, projected legislative changes that look set to take place in 2025 should provide the regulatory framework required for a more comprehensive betting market, with a focus on online operations.

To get a better idea of betting in Alberta, we asked Lewis Mitchell who explained that offshore betting sites have been able to cater to the needs of consumers. The convenience offered by online sports betting is something that the retail industry can’t compete with, and the wide range of betting markets, enticing bonuses, and selection of payment methods make it a popular option.

At present, the only online sports betting operator licensed to run in Alberta is PlayAlberta, a government-run operator that is regulated by the Alberta Gaming, Liquor, and Cannabis Commission (AGLC).

The new regulatory framework was set to be implemented at the end of 2024, but the project was delayed. The popularity of Ontario’s online sports betting market, which has seen significant growth, has encouraged other provinces to look at ways they can enjoy the revenue it would create and the improved protections they could offer their citizens.

Albertans have Canada’s highest spending on gaming per capita, and this statistic has led experts to believe that it would welcome a more open online sports betting industry.

The province is home to one of Canada’s youngest adult populations, and a legal betting age of 18 would be conducive to a successful online sports betting market. Another benefit for the 4.9 million inhabitants of Alberta is that Canadians don’t pay tax on winnings.

The wide selection of pro-sports teams in Alberta would also help with a launch, with the Calgary Flames, Edmonton Oilers, Calgary Wranglers, Calgary Stampeders, Edmonton Elks, Calgary Roughnecks, and Calvary FC just some of the options for local sports fans to get behind.

Alberta is in pole position to become the second province to allow commercial online betting operations and will benefit from insights available from Ontario, helping to avoid potential pitfalls. The industry would provide a welcome boost to provincial finances via tax revenue and improved employment.

The opportunity to allow other sports book operations will alert existing live-betting operations including Enoch’s River Cree Resort and Casino and Eagle River Resort, as well as the Stony Nakoda Resort and Casino in Morley, Starlight Casino in Edmonton, Calgary’s The Grey Eagle Resort and Casino, and the Casino Lethbridge.

The province will likely follow the lead of other regions that allow online betting markets by implementing application and license fees, with license fees requiring annual updates.

The limited nature of the existing sports betting market in Alberta leaves significant room for growth. The wide variety of sports and betting markets available for locals to explore will provide great competition for potential new betting apps.

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From coins to wagers: The expanding crypto gambling market

Published on February 14, 2025

Todayville Content Team

The world of gambling is changing fast with the rise of crypto. More people are turning to it as their preference for online betting as it is safe and offers new options. You can now use digital coins like BTC to place bets in a whole new market.

Many online casinos are beginning to accept crypto, making it easier for players to join in. With an increasing number of people interested in digital money, the crypto market is expanding rapidly. Learn more about crypto gambling here.

Benefits of crypto gambling

Crypto gambling offers many benefits that make it appealing to players. With the use of digital currencies, Bitcoin gambling is faster, safer, and more private.

The following benefits can help you see why using crypto in a casino is popular:

Transparency

One of the best things about crypto gambling is transparency. Blockchain technology records every game and transaction, making it easy to see what happened. This gives you peace of mind that the games are fair and the outcomes are legitimate.

Anonymity

You don’t need to share personal data when using crypto, which means you can enjoy games without worrying about your privacy being exposed.

Faster transactions

Speed is a major advantage of using crypto for gambling, as transactions happen quickly. You can deposit and withdraw your money almost instantly, rather than waiting days for banks to process payments.

International access

Crypto gambling allows players worldwide the world to join in. Traditional gambling sites may limit access based on location, and while crypto also has that, it is often accessible. This opens up chances for everyone, no matter where they are.

Lower fees

Using crypto often means lower fees for players. Traditional banking methods can charge high fees for transactions, but crypto usually has much smaller costs. This means more money can stay with the player, leading to bigger winnings.

Rise of crypto casinos: The new era

Many players are excited about using crypto to bet and play games. This shift marks the start of a new era in online gambling.

Increased interest

There has been a notable increase in interest in Bitcoin casinos. More people are searching for places to gamble using Bitcoin than ever before, showing that more players are curious about using digital currencies for betting.

Market growth

The global online gambling market is expected to grow rapidly. Experts predict that more players will choose crypto casinos, leading to larger markets. With the rising use of crypto, the future of online gambling looks bright.

Rising betting activity

The percentage of gambling done through crypto is on the rise, which means more players are getting involved. This trend shows that crypto gambling is becoming a preferred choice for many.

Demographics

Players interested in crypto casinos tend to be young and tech-savvy, between the ages of 18 and 34. This age group is familiar with technology and enjoys exploring new forms of gambling, making crypto casinos an exciting option.

Trends to watch

The future of crypto casinos seems promising as new digital assets may emerge, giving more options for players. Innovations in payment systems and game offerings are expected to grow as more users enter the market. Keeping an eye on these trends can help players stay ahead in the ever-evolving online gambling world.

Challenges facing crypto gambling

While crypto gambling offers many benefits, it also faces some challenges. Here are two major concerns about why it is not easy to operate a casino:

Regulatory uncertainty

Countries have diverse laws about crypto, which can confuse some players. This can make it hard for online casinos to follow the rules and for players to know what is allowed in their region.

Volatility

Their values can change quickly and suddenly, which can create financial uncertainty for players, making it hard to decide how much to spend or bet.

Security risks

Although crypto casinos boast good security, some risks still exist as hackers may try to steal digital currencies or personal data. This may make you hesitant to fully trust these online platforms, even with strong security measures in place.

Factors driving crypto casino growth: Engines of evolution

Several key factors are helping the growth of crypto casinos. These factors make online gambling with crypto more appealing to players. Knowing these reasons can explain why more people still choose crypto casinos.

Security

Security is a major factor that helps crypto casinos grow. Blockchain protects transactions by securely recording them, so trust your money and data to be safe. With strong security measures, you feel more at ease placing your bets.

Enhanced privacy

Enhanced privacy is another vital reason for the rise of crypto casinos. You do not need to share a lot of personal details when using crypto, allowing you to enjoy gambling without worrying about your identity being exposed. Keeping personal data private makes the experience feel safer and more fun.

Global usage

Global usage is key to the success of crypto casinos. Crypto can be used by anyone, anywhere in the world, making it accessible. Players from various countries can easily join in, making the market much larger and more diverse. This worldwide access means more people can connect and play together.

Saving with speed

Transactions happen quickly with crypto, which makes them popular. Deposits and withdrawals can take only a few minutes compared to traditional banking methods which can take days. This speed allows you to enjoy your winnings right away. Quick transactions make it easier for players to keep the fun going without long waits.

Innovative gaming options

Crypto casinos are bringing fun and new ideas to online games as many operators are creating unique games that use the special features of blockchain technology. For example, some games allow you to earn tokens that can be traded or used in various ways.

Others might offer exciting themes or new ways to win, making each game feel fresh and different. This variety keeps you interested and makes crypto casinos a more exciting choice for gambling.

Social engagement

Crypto casinos often focus on building a strong community. Many platforms feature chat rooms and forums for players to interact, share tips, and enjoy a social gaming experience. This sense of community adds to the thrill and keeps you coming back for more.

A bright horizon for crypto gambling

The future of crypto gambling looks bright as more players are starting to use crypto like Bitcoin for their bets, helping the market grow. Online casinos are offering more games and better rewards for those who use digital money. With new technology and more interest from players, crypto gambling is becoming a big part of online gaming.

You can expect a safer and more fun gambling experience as the benefits of Bitcoin gambling include faster transactions and better privacy. As more people learn about these good things, crypto casinos will likely become more popular, showing there is a bright future for crypto gambling.