The phrase “high stakes” comes from “stake,” a gambling term for the money or other valuables wagered on an outcome. Whatever is at stake is risked for the sake of returns of a higher value or simply because the gambler is convinced about predictions and needs to prove that to someone. “High stakes” means an exceptionally high value or amount for wagers. The risk is high because the amount wagered is more substantial, and there are ramifications to losing it. Another high-stakes scenario is where the prediction is a tough one to get right, lowering the possibility of winning the wager. Sometimes it can be a combination of both – an unlikely outcome wagered on using a significant amount as a stake. So high-stakes betting is risky, and most people understandably avoid playing with fire. However, others, like how a moth draws to the flame, relish the high-stakes game. Conservative betting doesn’t get their blood going or cause their hearts to beat any faster than the regulation of 72 times per minute. This post attempts to unravel the unique mind of a high-risk gambler and understand his motivations.
Money
Money is a good thing to have in life. Unsurprisingly, one thing that compels gamblers to play high-stakes games is to make more money. There are two ways of increasing potential profit in sports betting:
- Staking a significant amount on a bet – the gross gain from a chance is also the stake amount * betting odds, so the higher the amount, the higher the revenue.
- They are making a problematic prediction – the more unlikely an outcome is, the higher the bookmaker prices that outcome. Such bets are complicated to win, but those successful punters sing to the bank.
So ultimately, both propositions present a chance to rake in the big bucks, and the opportunity to earn a significant amount proves sufficient for a high-stakes gambler to ignore the risk posed.
Thrill Seeking
As a gambler, you can either be risk-averse or a risk seeker. The latter category is gamblers who move towards risk rather than away from it. They need danger to feel alive. The typical life of a cautious person is not enough for them. High-stakes gambling, of course, provides plenty of risk and adrenaline. One could lose an amount of money that causes severe financial implications, but such a gambler doesn’t mind that. Instead, they are thrilled about playing with fire and nearly getting burnt. Plenty of other exciting theories exist on why people indulge in risk-taking. For instance, recent research suggests that happy people take more risks, including gambling risks. According to findings, happy people feel that the odds are in their favor and are more “generous” and “trusting.” As per a separate study, warm weather, such as summertime, promotes risk-taking, as does staying late.
Genetics
A person’s genetic makeup could also make them more likely to be a high-stakes gambler or not. Simply because of how a person’s brain is structured, including the abundance or lack of certain hormones, they may not perceive risk the same way as others. When the typical, cautious gambler sees a chance, they feel a sense of danger and wish to protect themselves. On the other hand, high-stakes gamblers view high risk with a pervading sense of arousal. Told they stake colossal amounts on complex bets for the same reasons why people go skydiving or cliff jumping.
