Preface

In this article, the editor of TC-GAMING will discuss with the bosses the impact of gambling on social groups and the economy, and conduct market analysis from multiple angles. First, we will explore the relationship between poverty and gambling and the differences in gambling behavior between low- and high-income people. Next, we will explore the impact of GDP per capita on gambling behavior through data analysis. Finally, we will continue to pay attention to the development trends of the iGaming market and explore the impact of per capita GDP, wealth gap, technology and other factors on this market. The analysis in this article is based on reliable data sources, including statistical data from government agencies, TC-GAMING big data database and public written research reports, etc. It aims to comprehensively consider various factors from multiple perspectives and understand the market in a more comprehensive and objective way. development trends and related factors.

The psychology of gambling behavior

When people talk about gambling, they often focus on the odds and financial aspects of gambling itself, but there are numerous psychological factors behind gambling behavior. Here are a few psychological perspectives that can help people better understand gambling behavior.

1. Anxiety and stress: Gambling behavior may be a way for people to cope with anxiety and stress in their lives. When people are in a state of emotional instability or negative emotions, they may look for a way to temporarily distract themselves from their negative emotions. For some people, gambling can reduce feelings of anxiety and stress by providing a way to distract themselves and temporarily forget about stress.
2. Risk and reward: Gambling is a high-risk and high-reward activity, and this is one of the reasons that attracts people to gamble. When people face risk, they often experience a sense of excitement, a feeling that is also present in gambling. When people place bets and gamble, they feel a sense of anticipation and excitement, and hope for higher rewards. This psychological reaction of risk and reward may lead people to frequently engage in gambling behavior, which in turn becomes a bad habit.
3. Vanity and Self-Esteem: Gambling behavior is also related to vanity and self-esteem. Winning money or other forms of rewards while gambling may make people feel more confident and accomplished. People may view gambling as a way to demonstrate their skill or luck and thereby boost their self-esteem.
4. Bias and Misjudgment: In gambling, people can be influenced by bias and misjudgment, causing them to make irrational decisions. For example, when people win, they may believe they have greater skill and luck, and this arrogance may lead them to continue taking risks that ultimately lead to failure. In addition, when people lose gambling, they may blame external factors, such as bad luck or other people's cheating, rather than their own poor judgment, and this misperception can also affect their future decisions. .
5. Addictive Behaviors: Many people are at risk of becoming addicted to gambling. This addictive behavior not only affects an individual's mental health and social relationships, but can also have serious negative consequences on family and financial well-being. Addicts often spend a lot of time and money gambling, and they may be trying to escape real-life problems or seek excitement. Addicts have increasing demands for gambling, and they often require more resources to satisfy their needs, which may lead them to commit crime or go into debt.

Who is more susceptible to the temptation of gambling, rich people or poor people?

1. According to a 2012 American study, it was found that people with higher incomes are more capable of self-control, and this trend is particularly obvious in gambling behavior. Researchers believe this may be because high-income people generally have more resources to control their behavior.


2. Another study found that higher-income people appear to be more risk-aware when it comes to gambling behavior. This may be because people with higher incomes are more focused on long-term financial stability and are better able to compare the risks of gambling with their own financial goals.


3. But other studies have pointed out that income does not necessarily determine a person's gambling behavior. For example, a 2020 study found no significant differences in gambling frequency and gambling behavior between low- and high-income people.

Are low-income people more willing to take risks?

Are low-income people more willing to take risks?
For low-income people, gambling is a way to change their destiny. They can win a large amount of money through luck, thereby improving their economic situation. But, in fact, the risks of gambling are very high, and most gamblers lose their money, thereby losing their jobs and families, and falling further into poverty. This cycle of behavior will continue unless these people can change their behavior in their lives. Therefore, gambling behavior is more closely related to low-income people.

Do high-income people know better about risk control?

People with higher incomes appear to be more risk-aware in terms of gambling behaviour. This may be because people with higher incomes are more focused on long-term financial stability and are better able to compare the risks of gambling with their own financial goals. While income may influence a person's attitudes and behavior toward gambling, it is not the only factor. Some wealthy people may view gambling as a form of entertainment and have enough resources to bear the risks of gambling, but this does not mean that high-income people will necessarily be more cautious when it comes to gambling.

Summary

According to TC-GAMING’s big data and comprehensive analysis based on per capita GDP, the online lottery market in Southeast Asia is expected to reach US$2 billion by 2023. Among them, Vietnam, Philippines, Indonesia and Thailand will be the main growth drivers of the market. Although these countries are experiencing rapid economic growth, the increase in gambling among low-income people also reflects the increasing gap between rich and poor.
On the other hand, as the economy prospers and the wealth of high-income groups increases, they may spend more money on various entertainment activities, including gambling for social purposes. Therefore, the growth of per capita GDP, the widening gap between rich and poor, the advancement of gaming platform technology, and the increase in Internet penetration have created fertile soil for the iGaming market.
Taking Vietnam as an example, the country's economy has been in a state of rapid growth in the past few years, people's living standards have gradually improved, and the gap between the rich and the poor has also widened. According to the Vietnam Internet Index Report in January 2022, the country’s Internet penetration rate is 71%, with smartphone users accounting for approximately 53% of the total population. Especially during the epidemic, people have developed the habit of adapting to online gambling games. Therefore, under such conditions, since 2019, Vietnam’s iGaming market has become a battleground for various gaming platforms to enter Southeast Asia.