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If you bet on both the teams, you are actually risking $104. 76 to get $100 back. From the bookie’s perspective, they are taking in $104. Betting 2% or less of your bankroll. A common scenario for casual gamblers is to walk into the casino with around $200 dollars and make bets between $10 and $25. This seems harmless in theory, if you’re gambling with expendable income. But the problem is that you’re very likely to run out of money this way. This leads to two related topics that will be covered in part two of this book: fluctuations, which every skilled gambler suffers from, and the "extremely silly subject of money management. " from gambling theory and other topics by mason malmuth. ©1987, 1988, 1990, 1994 by mason malmuth. Learning theory explains gambling in terms of operant conditioning: gambling behaviour is reinforced and this increases the likelihood that the behaviour will be repeated. There have been many theories of social cognition developed to understand behavior (see conner & norman, citation 2015), but the most popular are the theory of reasoned action (fishbein & ajzen, citation 1975) and the theory of planned behavior (ajzen, citation 1991). These will now be outlined. Abstract our purpose for this chapter is to review the five theories of pathological gambling: psychoanalytic theory, biomedical theory, psychosocial theory, cognitive theory, and behavior theory. Underlying assumptions, supporting research, and how each theory translates into practice are discussed Unlike in Chemin de Fer, this version requires the casino to always hold the bank, gambling theories.
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