1. Winning’s Probability Is pathetically Low
What are the chances, really, of winning and winning big in regular and online casinos? In some situations, including TOTO, the chances are exceedingly minute. Singapore Pools also put it explicitly on their website telling punters that there is a 1 in 13,983,816 chance to strike Group 1 jackpot for TOTO for every daily entry.
Even if you’re not good at mathematics, this should be a warning that gambling requires enormous amounts of luck, and that’s something most of us don’t have on a wave of our hand no matter how much we want.
The same applies to casino gambling or any other form of gambling-think about the chances of winning you are at. The likelihood to win is embarrassingly low. Maybe then, before you blow off your hard earned money or freshly collected CPF money from gambling, you would be more inclined to think and behave more rationally.
2. Greed develops with Gambling
The more you bet, the more that you are going to win. Or just lose. Greed is why gamblers go back to gambling no matter how many times they declare that “the next time they don’t go.”
When one wins at the casino say $1,000, this person is likely to continue gambling because he or she might win even more. Why not, as this person is on a streak and feels the need to try to recover all those lost on previous occasions.
A confluence of factors tend to mar one’s ability to think and act rationally when gambling is involved whether it be thrill, panic, or excitement – gambling is a vicious cycle that is hard to break once you’re addicted. And even if you do gamble, always remember to not be greedy and know when to draw a line. Also, do not dabble in gambling when you cannot afford to lose.
3. Gambling can make you do incredibly stupid things
Before you even get your prize money, it is never a smart idea to spend it mindlessly. This French woman thought she’s won lottery, as mentioned, and so she went on a shopping spree, only to find out she didn’t win when her husband checked her ticket twice.
Other stupid things you may or may not do include using your food money on gambling because you’re so immersed in gambling, not having enough sleep or rest because you prioritize gambling, blowing off your hard-earned money or CPF money on gambling, etc.Life isn’t just about gambling, and actually winning money. Think of youe special persons in life or even the things you love to do, things that keep you happy and fulfilled.
4. Gambling Can Tear Your Life Apart
True story, gambling has the power to destroy the life of anyone, crushing whatever little hopes they have left, and driving them into dire despair. Hardcore gamblers lose a ton of money, get into serious debt (if you’re in debt, use that checklist to get out of debt), lose their homes, lose their spouses and kids, get depression with some even choosing to commit suicide.
I don’t gamble but I want to share something here – one of my dad’s friends is a lawyer in his 60s who used to own 3 private houses. In addition to losing his wife and children, he lost so much money at the casino that he had to sell off his assets. Now, he rents a1-room HDB flat and he’s back to law practice because he needs to earn money to survive.If he hadn’t gotten sucked into gambling at the casino, he would have been living a very carefree retirement life at this point. Regrets can’t get things reversed.
5. There are other things you can use your money
There are so many better things you can do with your cash, for example, saving money, investing (read the 5 things newbie investors should know), buy insurance, donate it to charity, travel around the world (check out our travel guides for ideas of beautiful places to visit), buy things you’ve always wanted, send your kids to fun enrichment classes, save for retirement.
There are many ways to make better use of money. Some even help you grow your money, so why not use the money you’ve got into the many various things you and your loved ones could be satisfied with