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“Here was the downside of gambling as a signifier of intelligence: If winning says a bettor is smart, what does losing say? Gamblers chase as much to recover money as to recover their self-esteem. And if they keep betting, they can avoid admitting they have lost. So, if he was down $40,000, what was another $5,000 or $10,000 compared to the possibility of wiping the slate clean?” — Jonathan D. Cohen
Here was the downside of gambling as a signifier of intelligence: If winning says a bettor is smart, what does losing say? Gamblers chase as much to recover money as to recover their self-esteem. And if they keep betting, they can avoid admitting they have lost. So, if he was down $40,000, what was another $5,000 or $10,000 compared to the possibility of wiping the slate clean?