Recent psychological research suggests that people with a natural tendency to be greedy are more likely to engage in gambling and experience negative consequences as a result. The findings indicate that greedy people tend to have distorted beliefs about their chances of winning and their ability to stop playing. This study was published in the journal Personality and Social Psychology Bulletin.
The study authors sought to investigate specific psychological characteristics that may lead to problem gambling behavior. Joshua Weller, associate professor of behavioral decision making at the University of Leeds, explained the rationale for the study. “Gambling is incredibly widespread and expanding in many countries,” Weller said. “For many, it’s just entertainment, but for others, they can experience real harm, from financial hardship to effects on relationships and mental health.”
Previous research has investigated how a wide range of personality traits are related to problem gambling. “Many studies have focused on well-known personality traits such as impulsivity and sensation seeking,” Weller continued. “But what surprised us was that a trait that seemed intuitively relevant – greed – had not been much explored in the context of real-world gambling.”
The authors wanted to focus specifically on dispositional greed, a personality trait defined by a constant and unquenchable desire for more. “Dispositional greed is essentially a tendency to always want more and be dissatisfied with what you have,” Weller said. “This is felt not only in money and material things, but also in immaterial entities such as power, status, and even likes on social media. ”
The researchers proposed that greedy people may be naturally drawn to gambling because it is a seemingly quick way to acquire more wealth. “It seemed plausible that gambling, which promises the possibility of immediate financial gain, might be particularly attractive to people high in this trait,” Weller said. “So we wanted to test the extent to which greed is related to the way people gamble, and, importantly, whether it is linked to negative outcomes.”
To explore these ideas, researchers conducted two separate studies using large groups from different countries. The first study included a representative sample of 1,118 Dutch adults. Participants completed a questionnaire measuring their level of sexual greed and materialism. Materialism is a related concept, but specifically involves placing a high value on purchasing and owning physical goods.
Dutch participants also answered questions about their gambling habits over the past 12 months. Scientists asked them whether they had ever participated in different types of games, including lottery drawings, scratch cards, sports betting, and casino games. They also completed a standard questionnaire designed to measure the negative effects associated with gambling.
The results of the first study provided evidence that greedy traits are related to broader gambling habits. The authors found that more greedy people were more likely to engage in multiple different types of gambling activities. This association remained mathematically significant even when the researchers took into account the participants’ level of materialism. This suggests that action is driven by a genuine desire for more, rather than simply a love of material things.
To get a more comprehensive understanding, scientists conducted a second study in the United Kingdom, a country with a much larger and more established gambling market. This second study included a final sample of 4,783 adults. Some of these individuals were recruited from the general population, while others were specifically selected because of their interest in gambling.
In the second study, participants completed a short questionnaire to measure their sexual desire. They also answered questions to measure their level of motor impulsivity, the tendency to act without thinking. Scientists wanted to confirm that greed has a unique influence on gambling, apart from just being impulsive.
Participants then reported how often they gambled, the types of games they played, and the amount of money they spent gambling in the past 14 days. To measure negative impact, respondents completed a widely used survey asking whether they chased losses, borrowed money to gamble, or felt guilty about their habits. Additionally, the researchers asked participants who gambled to answer questions about their thought patterns, with the aim of measuring several cognitive distortions.
Scientists have found that higher levels of sexual greed are strongly associated with a higher likelihood of gambling. Greedy people also tended to play more often and participate in a variety of gambling activities. Furthermore, greedy disposition was positively correlated with higher scores on the gambling problem severity scale. This means that greedy people are more likely to report negative financial and emotional consequences of their habits.
Weller pointed out the unique role of greed in these outcomes. “We were somewhat surprised that, above and beyond impulsivity, greed predicted the severity of gambling harm,” he says. “Impulsiveness is often treated as a core personality factor driving risky behaviors such as gambling, and greed itself has been associated with impulsivity in the past. But our findings suggest that greed adds something else.”
The authors believe that greed may provide a clear motivator. “While acting quickly or without thinking may be associated with gambling, especially in emotionally charged situations, a persistent urge to obtain more and dissatisfaction with the status quo may support the urge to gamble as a way to satisfy both,” Weller said.
When researchers looked at the psychological mechanisms involved, they found that greed is closely tied to flawed thinking. Those with higher greed scores falsely believed that gambling would reduce stress or bring happiness and reported having more positive expectations about gambling. They also demonstrated a higher degree of illusion of control, the false belief that individual skill can influence a purely random game of chance.
Weller summarized the far-reaching effects of these cognitive patterns. “The important point is that gambling behavior is not just about luck, risk-taking or impulsiveness,” he says. “It is also shaped by deeper motivational traits like greed. We found that people who score high on dispositional greed are more likely to gamble, are more likely to gamble across more activities, and are more likely to experience more negative consequences from gambling.”
Cognitive distortions seem to fuel the harmful cycle. “What’s particularly interesting is how this plays out psychologically,” Weller added. “Greedy people are more likely to believe they will win, value economic gains, downplay losses, and endorse distorted beliefs about gambling.”
This particular mindset can make it difficult for individuals to leave the game. “So on a broader level, it’s not about the ‘gambling of greedy people,'” Weller explained. “The idea is that a greedy mindset can make gambling more appealing and harder to break away from gambling. This is important for both individuals and the way we think about prevention and intervention.”
Regarding the scope of the study, Weller noted several limitations. “Yes, there are some avenues for future research,” he said. “First, these are mostly cross-sectional data, so we cannot say that greed causes the harms of gambling. It is also possible that gambling experience strengthens greedy thinking, or that both interact over time.”
The researchers also relied on self-reported survey data. “Second, we asked people to retrospectively reflect on their own gambling experiences and beliefs, rather than examining how greed was related to actual gambling behavior, such as during sports betting at a casino or during a match,” Weller said.
Another limitation is related to the type of participants involved. “Third, our sample was from the general population rather than a clinical population,” Weller added. “Thus, although we have seen associations with problem gambling indicators, we are not directly studying diagnosed gambling disorders.”
Weller also warned against using the research results to shame individuals. “I would strongly caution readers against oversimplifying these results by saying, ‘Greed is bad and explains everything,'” he said. “Because being ‘greedy’ is generally not seen positively in society, placing responsibility solely on individuals for the negative consequences of gambling can potentially prejudice those who experience gambling harm.”
Blaming individuals entirely can create harmful barriers to recovery. “While it is true that personal factors can lead to more negative outcomes in gambling, the blame may be squared on the person who is harmed,” Weller explained. “As a result, these people may feel more guilt and shame and be less likely to seek help when they need it.”
Finally, the researchers suggest looking at the broader context of gambling addiction. “The focus may also shift to individual-level interventions, rather than considering whether more effective interventions can be achieved at the industry or public policy level,” Weller said. “Greed is one piece of a larger puzzle that includes environment, access to gambling, living conditions, and other psychological factors.”
The study, “Hungry Ghosts Eat Casino Chips: The Link between Temperamental Greed and Gambling,” was authored by Joshua Weller, Marcel Zehrenberg, and Barbara Summers.
