There is not much difference between online gambling and real casino gambling, particularly the "table games" other than blackjack. Everything is controlled by computers, with the odds being heavily in the house's favor. It is no different than the computerized slot machines, which have always been rigged to payout - either a little or nothing at all. The "psychology" of online gambling has to be the same as with any gambling, which is: if you do it long enough, you will lose everything.
There is an axiom I heard, which was back when I regularly visited casinos, and said, "If you can afford to lose you are not gambling." It struck a chord with me because I certainly was in no position to lose. As a gambler, I would think I was smart enough to win by playing the odds. For hours I observed the odds beat me down and out of the casino, wondering where my money went. That was when I gave online gambling a shot.
You have to understand that online casinos are not regulated by any serious commission, which tells the casion a certain percentage of people must win ... just so it can be called gambling and not theft. There are no dealers to talk to, in some attempt to woo him or her with side bets for the dealer, so that maybe the camera overhead will drop a jackpot hand to your table position. In an online casino, the program knows all the odds hints taught in the books on how to beat the house at blackjack. Those would be always hit under 16 if the dealer has a 10 showing, or stay if the dealer has a low card showing. Throw all that strategy out the window. The computer program will beat you silly if you play by the rules it is programed to beat.
When I played online gambling, I first did it with their "play money," meaning nothing was for real. I could bet much higher than I normally would, and win thousands of dollars, then lose thousands of dollars. It was all for me to size up how the program worked. I sweated bullets when I set up PayPal to actually let some cyber entity have $100 of my real, hard-earned money. When I did let that money go, it was so I could also receive $50 of "first-time player" real dollars. That freebie was based on me actually betting $100. If I bet $100 and still had part of the free $50, I could cash in and be a winner.
I found the psychology of their program based on developing trust with the player. Playing a little here and a little there, over about three days (you can save you winnings in the casino bank each time you stop playing), I found myself up $1,000. At that point, the program switched to a "house wins four of five hands" odds. Also, I had found out how I could count on winning hands in advance, so I raised my bets when it was "my turn to win." Those odds completely disappeared. When I was down to having $750 in my casino account, I cashed in and requested my money.
Requesting money from an offshore organization becomes another worry, because who are you going to complain to if they never send you your winnings. I had to fill out several forms (if memory serves me well) and clink some buttons to have the computer finally tell me it would be 3 weeks before I would see a paper check. I requested the paper check because I did not want them doing a direct deposit into some bank account of mine. There were only three options for cashing in.
About three weeks later I actually did receive my check for $750 (which included my initial $100), so I won $650. Not long after that I saw news reports about how children were losing thousands of dollars they did not have, because they had developed addictions to online gambling. Gambling is an addiction; and it was sad to see children getting hooked on something that offered absolutely no chance of coming out ahead. I felt lucky to win and receive that check. Afterwards, I received all kinds of offers to come back, with more free money as the carrot. However, I chose to hang it up. I retired as an online gambler.
My recommendation to anyone considering this "hobby" as a way to make some spare money to think again. I don't even recommend anyone going to a real casino as a way of making some quick cash. I have seen how evil that world is, simply because it will change the odds in its favor so quick it will make your head swim. Always remember, if you can't afford to lose don't gamble. If you have nothing to lose, its not gambling, its suicide.