As we’ve seen, randomness and house advantage in gambling ensure that gambling operators make money over time, which means that players lose money over time. Given that’s the case, a good question to ask might be: “How much money is gambling going to cost me?” Check out our section on cost of play and try our cost of play calculators to estimate what your gambling may be costing per hour, per month or per year. You can also print and use a copy of our gambling log sheet to help you keep track of how much time and money you spend.
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- What is Your Cost of Play?
- Why This Site
- How Gambling Really Works
- Randomness
- Independence of Events
- Why Gambling Will Cost You Money
- What is House Advantage?
- House Advantage and Randomness: How They Work Together
- What is Your Cost of Play?
- Short Term Volatility versus Long Term Predictability
- Return to Player (RTP) and Hit Frequency: What Do These Mean?
- Does Skill Work?
- Get Your Score
- Psychology of Gambling
- Optimism in Gambling: Good or Bad?
- Systems in Gambling: Trying to Make Sense of Randomness
- 20/20 Hindsight in Gambling: Useful or Misleading?
- Near Miss Beliefs: Close Doesn’t Count
- Hot and Cold Machines: There’s No Such Thing
- Selective Attention and Selective Recall: “I Only See What I Want to See”
- Unpredictable Payoffs: Learn How You Might be Affected
- Entrapment: “I’m Stuck at the Bus Stop”
- Don’t Get Caught Chasing
- Illusion of Control
- Magical Thinking
- Superstitions and Rituals
- The Appeal of Gambling: What Gambling Means to Different People
- Gambling and Keeping It Real
- Responsible Gambling Tips
- Personal Stories
- Problem Gambling
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