This is part three of our three-part series discussing the allure, addiction, and effects of the poker craze on WU’s campus and elsewhere.
Over the long haul, even if students start out winning, they are bound to lose some games, but if that is the case, then why do many play consistently? Researchers have long looked at the psychological and economic links in the decision making process as a guide to answering this question.
Professor Green specializes in behavioral economics. He said that psychology offers several theories as to why people gamble, but two loom largest: intermittent reinforcement and valuation of gains and losses.
With intermittent reinforcement, there is an occasional win, which means that players are more likely to continue their gambling versus a scenario where they always win. The intermittent victories are very powerful, said Green, because the player is paid off in a variable ratio. The more he plays, the more likely he is to win, so he maintains the gambling habits.
People also value gains and losses differently. Green explained that wins often loom larger than losses, especially when the losses are discounted relative to the wins.
In order to stem these effects and curb excessive amounts of poker playing, Green said that it is ultimately up to the individual, as he needs to set up a commitment strategy that limits the amount of time spent online and thus the amount of time spent gambling.
“Students have to engineer their environments,” said Green. “There’s a built in mechanism at college with midterms and papers, but some students still won’t stop. Easy access to computers is the problem, especially since there’s a low opportunity cost of gambling online.”
Students must try to determine what is influencing their behavior and then try to limit those influences in their lives. Then, it is possible to reduce the amount of time playing the game.
“The reasons they give might not really be what’s influencing behavior,” said Green. “If you don’t know what’s influencing you, then you can’t have control.”
Will the Popularity Continue?
Many poker players on campus do not see the game as a passing fad. While some are not sure if they would continue playing with a high level of consistency after college, many still think the game is a good way to bring in extra money if a player has the right skills.
Barlow said that he does not exactly find the online game to be fun anymore, but that he still plans on playing because it is an easy source of cash.
“I played poker before it was all over TV and I like the game,” Barlow said. “I don’t see why I’d leave it after college.”
Moffitt echoed these sentiments for the most part, but noted that the amount of time he would have available to devote to the game in coming years would depend mostly on his work status after college.
For his part, Green does not see the lure, or love, of the game fading in the near future. Easy access to the internet remains a key driver of online poker’s increasing popularity he said. Furthermore, the low involvement costs and the ability to play multiple games and even do other activities while playing brings about multiple levels of enjoyment and only increases the likelihood of more participation in the game over time, and ensure that most players are not likely to fold any time soon.