Short-Term vs. Long-Term Results in Gambling

This may sound like a strange topic, but the truth is, gambling has different results whether you choose to engage long-term or short-term. Not that we recommend one over the other, but you should be aware of the benefits (and downsides) of each option.

In general, short-term gamblers are far more affected by house edge and tend to pay a higher cost while simultaneously relying more on luck. Long-term gamblers are better able to balance the cost of gambling, and tend to reap more rewards, though they are still subject to luck and spend more money overall. Read on to learn more about the short-term vs. long-term results in gambling.

Short-Term Results in Gambling

Most individuals who gamble are short-term gamblers. Short-term gamblers are those who play for a few hours here and there, such as on vacation or during a friend’s birthday outing. Short-term gamblers do not play on a certain schedule, nor do they spend any time honing their craft.

The Benefits of Short-Term Gambling

1. Spend Less Money Overall

Short-term gamblers tend to spend less money overall simply because they play less overall. Although they may toss in $200 on a Friday night out, that may be the only time they gamble in a period of six months, making their overall money spent per year only about $400.

2. No Gambling Fatigue

Although long-term players tend to hone their craft, humans tend to grow bored by nature, which can lead to these long-term players making stupid mistakes. Because occasional players rarely play, they don’t have to worry about growing bored with a game.

The Downsides of Short-Term Gambling

1. House Edge Takes a Huge Cut

House edge is calculated based on long-term play. This means that short-term players cannot count on their return being what they paid in, minus the house edge. In fact, most short-term players will return home with far less than what they paid in, and are unlikely to see any return at all.

2. Results Are Purely Luck

While we already discussed house edge, it’s important to note that games of chance (with a specified win percentage when played perfectly) rely more on chance (or luck) when only played for a short time. For example, Roulette has a win rate of 48% when played perfectly, but if you only spin 4x, you are unlikely to win 2x. You are relying instead on chance. The reliance on chance decreases with a larger sample size, which short-term players don’t have.

3. Betting Systems Don’t Work

Many players read about specific betting systems online before heading to the casino to try them out. Unfortunately for them, most betting systems only offer benefits when played long-term. This means that short-term players trying them is a self-perpetuating loop, as they will only try the new system one time, decide it doesn’t work, and then not go to the casino again for several months.

Long-Term Results in Gambling

Long-term gamblers are generally considered to be those who engage in gambling on a long-term repeated basis. For example, if you go to gamble every Friday night for three hours, you are considered a long-term gambler even if you happen to skip one night. The fact that you regularly gamble over a long period of time makes you a long-term gambler.

The Benefits of Long-Term Gambling

1. Less Variance

The main benefit of long-term gambling is that you rely less on luck and, with repeated play, you should make back what you put in, minus the house edge. Of course, you are also looking to win, so hopefully that happens, but (as always) there is no guarantee. However, you will lose less to the casino overall with repeated play.

2. Loyalty Programs

The average short-term gambler does not play enough to actually benefit from loyalty programs, but long-term gamblers do. In fact, if you gamble frequently and don’t subscribe to a loyalty program, you are leaving money on the table. While you may not win more, the free meals, drinks, and stays will add up and benefit you over time.

3. You Learn More

Regular gamblers often spend time better learning their game. In addition, regular play makes you a better player because practice makes perfect (okay, you won’t be a perfect gambler, but still). Either way, if you play regularly, you are unlikely to make some of the stupid mistakes you would make from someone who hasn’t played in weeks or months.

Downsides of Long-Term Gambling

1. You Spend a Lot

You always see the stories of the person who won $20k or maybe $50k on a lucky night out, but when their play history is reviewed, it is discovered that they put far more than that into the machines over the years. In fact, most winners of $10k or above have sunk at least twice that into the machines before their big win. While short-term players tend to win far less, they tend to spend far less as well.

2. Game Fatigue

This typically only happens to those who gamble multiple times per week, though we have seen it happen to those who gamble weekly as well. When you play the same game over and over, your brain may grow fatigued or bored, and you may make stupid mistakes. While this is unlikely to happen with slots or blackjack, it is very common among poker players who play for a living and are in the casino 4+ nights per week.

If this is a major concern to you, we recommend switching things up by trying other casinos or taking a prolonged break from play to allow time for your mind to recover.

Overall, this wasn’t written to convince you to be a short-term or long-term gambler. Both have their benefits, and both have downsides. The reality is, gambling is always risky, and it will always take your money, but you should be aware of how the risks differ depending on when and how often you gamble. Just remember, above all else, the house always wins; the question is, how much?