The casino world is very different from what it was 20-30 years ago. Today, the once male-dominated sector has become an entertainment hub for women as well.
A study conducted by an online gambling operator shows a very close split between them, with 56.2% of gamblers being men and 43.8% women. New online casinos are quickly becoming a favourite for gambling enthusiasts of both genders.However, how women play at a casino is still quite different than how men do. If you dig a little deeper, apparent differences among the two genders come to light.
The psychology of gambling says that men are more likely to choose games that are competitive. It probably stems from men’s need to conquer and dominate over their male counterparts. Games like blackjack and poker seem to be hot favourites. Men believe they can use their skills and strategies to beat the house.
On the other hand, female players seem to like the thrill of playing games of chance. Online slots, bingo and roulette fit that bill perfectly seem to be more popular with the ladies in the house.
Another big difference that comes up is the amount of risk the two sexes are willing to take. Ever wondered why car insurance typically costs more for men than it does for women?
Sorry fellas, but men take more risks on the road and this is why they pay higher premiums. Men tend to be more reckless than women, even in gambling, because of their high levels of testosterone.
Many studies show that men are more prone to sensation-seeking and risk-taking, which also explains why there are more male smokers, bungee jumpers and reckless drivers than females.
When it comes to gambling, 52% of women spend less than $10 a week on gambling while men go way beyond that. In fact, male gamblers are more likely to use their credit card or withdraw money from the bank for gambling.
Statistics have been clear; men are 7.5 times more prone to problem gambling than women. Though women experience higher levels of psychological stress, men go through higher levels of social anxiety.
The social pressures range from finances, sexual competition, social image and male rivalry in all aspects. Social anxiety is closely related to addictive disorders such as alcoholism, drug abuse, pornography and most commonly, gambling.
In the rare occasion that a woman gets addicted to gambling, they are more likely to seek help early before things get out of hand, as opposed to men who let it go on for ages.
Studies show that women start gambling at a later age compared to men who start gambling very early. This dynamic can be explained by the fact that women start gambling when they are financially stable, so they can finally enjoy their money. Men, on the other hand, gamble to make money and deal with social anxiety, which is why they begin early.
Reaction to wins and losses
When gamblers were asked what they would do if they won $500, 72% of women said they would cash it out, whereas only 61% of men thought about cashing it out. This, again, goes back to men being prone to risk-taking. The reaction of men and women to big wins or losses is also quite different. Since men believe in skills and strategy, their response to losing is often playing more to recover the damages, while women will fold as quickly as possible. Interestingly, you would think that after winning a couple of times, men would stop while they are ahead, but that rarely happens. The rise in testosterone, when they get excited, causes men to continue playing and, most of the time, end up losing.
One of the similarities between men and women gamblers is their loyalty to what is familiar. However, men tend to play in more than one casino in search of variety and thrill. New online casinos are aware of this fact, which is why they welcome them with big fat bonuses and rewards to lure them into coming for more. Women are creatures of habit, so once they fall in love with one casino, they are likely to stay there for a long time.
Though these are just a few generalisations and some statistics shared by casinos, we also have to remember not to create gender stereotypes. There are always exceptions, too – women who are high rollers and can play a mean game of poker and over-cautious men who like playing safe! The only thing common to all is their appetite for fun!