Some people are driving to the slots _because_ they are depressed. The idea that people are rational is also absurd. The behavioral factors are bigger than the house edge. Essentially they are flipping coins for infinite time and just waiting to get a bunch of tails in a row, which is inevitable. They scale the bets as their bankroll grows. They rarely cash out when up but they always lose when they go bust. Then they start flipping coins, and often they keep doing this until they go bust. If they dont, then that number is their bank account balance. When people go to vegas for a weekend, they might have a number in their head they are willing to gamble. That the house has a small edge only tells a small part of the story.
