The Greed Generation

If you had the opportunity to walk away with a guaranteed $100,000 or more, would you take it?

I certainly would, but it seems like more and more people are willing to call that kind of cash “chump change.” The hit game show, Deal or No Deal, is the personification of greed in America. Contestant after contestant shouts “NO DEAL!” hoping that the case they’ve chosen holds one million dollars. Deal or No Deal and game shows of the same nature have deemed the current generation of Americans, young and old, “The Greed Generation.”

Deal or No Deal has been around for some time. The show aired on NBC on December 19, 2005. The show has gained international acclaim and several versions have taken off in other countries including Canada and France. The show is hosted by comedian Howie Mandel.

Deal or No Deal is probably one of the simplest game shows in television history. Prior to the show, a third party randomly places monetary amounts ranging from $0.01 to $1,000,000 in a total of 26 cases. Contestants, who are chosen through an application process, are then asked to choose a case. Once the contestant has his/her case, he/she begins to narrow down what could be in the case by opening the remaining cases.

The show operates in rounds (a total of nine) and each round requires the contestant to open a set number of cases. If the top amounts, which range from $100,000 to $1,000,000 stay in play, the Banker, will offer the contestant larger sums of money to buy the case from the contestant. The Banker’s goal is to buy the contestant’s case for as little as possible. If the top amounts are revealed as not being in the contestant’s case, the Banker’s offer decreases.

Since the game show’s induction in 2005, many have attempted to deduce the chances of a contestant picking the case with $1,000,000. Of course, the chances are very slim. To be exact, US Today crunched the numbers and revealed there’s only a 3.8% chance of a contestant choosing the top case. Meanwhile, there’s over a 50% chance a contestant’s case will hold less than $5,000. Seven contestants have chosen the million-dollar case, but all of them have taken a deal prior to knowing that their case held a million dollars.

One interesting piece of trivia is that one of these unlucky contestants, Dave Atherton, sold his case at the third offer for $81,000 when his case actually held $1,000,000. Atherton is the only contestant to sell a case that early in the game. More often than not, contestants play the game through the end and stick with their case. The biggest winning contestant was Michele Falco on September 22, 2006 who took home $750,000. She stuck with her case until the end.

It kills me to sit there and watch people turn down six digit figures when their case probably only holds $500 bucks. I sit there, glued to the television screen thinking that the six digit figure that was just turned down would pay for Masters three times over! Alas, I don’t know what I would do in the situation. I say that I would walk away. Yet, every time I’m at the casino, I can’t help but slip another $20 bill into the slot machine hoping to strike three sevens and hit the jackpot.

Is the phenomenon of greed cultural or compulsive?

Culturally, Americans celebrate prosperity. Who Wants to Be a Millionaire is another game show that encourages greed by pushing contestants to try to answer just one more question. Game shows like Deal or No Deal and Who Wants to Be a Millionaire along with other popular shows including Wheel of Fortune set a cultural tone inciting that anyone can win “big money.” These life-changing prizes are a new and more current version of The American Dream. Anyone can have it. But, can they?

Some critics who believe this is a cultural phenomenon say that these game shows promote a “pornography of wealth.” As Joshua Gamson points out in his article, “Other People’s Money” back in January of 2000 in The American Prospect, game shows are a cheerleader for capitalism encouraging consumers and could-be contestants that they could get something for nothing.

Gambling is and can be a compulsive activity. Gamblers tend to forgo logic hoping to get their big payday. The compulsion for Deal or No Deal contestants could simply be the urge to beat the system and pick the million-dollar case. I have seen many contestants claim to know which case holds the top prize (none of them have had it). So, the Banker wins in the same way that “the house always wins” when it comes to casinos.

Is there a lesson in all of this? Taking chances and striving to win are very large parts of culture and can lead to great prosperity or utter downfall. The danger “The Greed Generation” is subject to is potentially great, but in the meantime, it will continue to very entertaining.