Gambling is fast becoming one of the most lucrative industries in the world. According to a market research study carried out and published by Custom Market Insight, the global market size and revenue generated by the gambling industry worldwide was valued at $262.4 billion and is expected to increase before 2030.
The availability of numerous gambling platforms has also helped increase the size and value of the gambling market and the prizes and offers at online casinos. One such gambling platform is Amazon Slots, where players can claim a 500 free spins bonus and enjoy a variety of promotional offers.
According to the World Gambling Statistics, about 26% of the world's population engages in at least one form of gambling. This implies that over 1.6 billion people gamble globally, and around 4.2 billion people gambles at least once a year.
This large number certainly includes those with higher IQs, and a percentage of that number are those who helped create and work in the iGaming industry.
Society often regards people with high IQs with a certain level of reverence and, as such, expects them to have enough common sense to avoid impulsive behaviours or activities like gambling.
This is because, most times, betting on the outcome of an event depends on luck, or in an online situation, a Random Number Generator (RNG) to maintain the random nature associated with gambling.
For an activity that depends solely on chance, gambling is regarded as a compulsive activity, usually associated with people who have very little control over their impulses. Most times, compulsive or impulsive gamblers face difficulty in knowing when to stop, putting them in danger of serious mental and financial issues.
However, all the preconceived notions surrounding gambling don't necessarily hamper people with high IQs from engaging in gambling. In a research study published in the Journal of Behavioural Decision Making by Neuroscience News, it was discovered that men with increased IQs had a great likelihood of engaging in complex betting outcomes and skill-based gambling, such as horse racing, and also stake higher amounts of money.
Although the study did not explicitly answer why men with increased IQs would want to gamble or enjoy it, researchers who carried out the study believe it must be due to the mathematical challenge it provides.
It is common knowledge people with high IQ crave new challenges, and since skill-based games provide the perfect opportunity to focus, calculate, and flex a player's mental deftness, it makes gambling appealing, especially since they don't depend on luck and the RTP isn't determined by a mathematical measure that functions based on chance.
There isn't any concrete answer as to whether people with higher IQs enjoy gaming, although it could be because they, like us, enjoy a challenge and that gambling can be relaxing, rewarding and fun.
Gambling, like an IQ level, can be a subjective matter that depends on personal opinion and desire. Perhaps smart people desire to break out of the stereotype and enjoy what every other individual does and who are we to judge? Of course, they aren't easily misled like the average gambler, but still, a round of poker will not hurt.