If you plan to gamble, wouldn't it be a good idea to first really understand how gambling works? Most forms of gambling are based on a few common concepts. Learning about these concepts will help you understand why gamblers usually spend more than they win. It can also help you to gamble responsibly and stay within your limits.

Here's a sampling of the concepts we'll talk about:

• 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
  • Win in gambling is not long term
  • Return to player and hit frequency
  • Does skill work
• What's your cost of play
• 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
  • Unpredictable payoffs
  • Entrapment
  • 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
• Problem gambling
  • Range of gambling behaviours
  • Risk factors for problem gambling
  • How problem gambling can affect the individual
  • Dealing with problem gambling
  • Gambling and the family
  • Helping the gambler
  • Helping yourself
  • Why problem gambling is hard to deal with