First of all, great thread idea! The psychology aspect of gambling is always very interesting and underrated in my opinion.
I have a slightly different point of view maybe than most of the contribuors thus far in this thread, since I have been gambling for living (playing online poker) for a few years already. So my personal attitude towards gambling is (and has to be) a bit different than for a person who just plays for entertainment once in a while.
There would be a ton to discuss on this topic, but I try to keep it short and comment some of my experiences how gambling has made me feel.
What Id like to stress, is that gambling is like using alcohol (in this feel way) - If you are a normal drinker, maybe drinking a couple of beers once-twice a week and a bit more seldom on holiday parties or so, you get used to drinking normal, (non-unhealthy) amounts and it just gives you a good feeling and lowers your stress etc. But just keep 4 months off drinking completely and then drink a couple of beers - oh my god it certainly feels different! Your tolerance has gotten lower and you feel a bit dizzy and blushing already after two beers (maybe even one)!
This same thing applies to gambling. If you are somewhat regular gambler - well, it doesnt feel much at all if you are winning or losing. You start to get used to it (at least if you are a pro). But I personally have taken a few ~2 month breaks from playing at all and the firs times after the break when I hit the tables and I get my first huge hand getting action - oh my god, what an adrenaline rush it produces! Certainly there are same kind of characters when we compare alcohol and gambling in this way.
We can call this phenomena with a term "humans comfort level". When you get used to something - its not that big of a deal anymore. I am sure many people have felt this same thing playing on casinos with certain bet level they are used to. Just try to raise your bet level to maybe like ~3 times to your normal level, hit a few spins and check what is happening to your heart rate - yeah, its definitely raising! Again - when we get out of our comfort zoneit makes things to happen in our brains. I think this part of evolution and human nature; like when you are in a danger, your body starts function differently - you get more focused and ready to act, your body temperature and heart rate rises etc. Its build into a human brain and body that when you leave your comfort zone, you start to feel different. Same applies to losing bigger than normal amounts when gambling. You have certain comfort zone in losing too. I think many of you fellow members can agree? You have sometime lost more than you actually had prepared to - how have you felt afterwards? Id say different than normal!
There would be a ton to discuss on this topic, and this thread gave me an inspiration to write something more about this - I think Ill add some things about the psychological side of gambling to my few next blog entries feeling inspired from this thread.