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Prevent Gambling Addiction: Understand Gambler’s Fallacy

Oftentimes, the basis for this gambling addiction lies within what is known as gambler’s fallacy.

What is “gambler’s fallacy”?

Gambler’s fallacy is, essentially, the statement that a gambling victory is “due.” Most people who visit a casino, I imagine, fall victim to the fallacy. People who do not understand this logical flaw often say things like, “I’m about due for a blackjack,” “The ball has landed on red seven times in a row – it’s gotta be black next,” and the ubiquitous, “Just one more spin!”

Although casino games can provide an exciting buzz, it’s important not to be swept up by this train of thought. Never bet more than you can afford, and never try to chase your losses. Many

people cannot ever enter a casino for the purpose of entertainment alone, and feel a compulsive need to win. “44 seems to get drawn more than any other number. So, with all of this in mind, remember to bet responsibly.

A common example of the fallacy

Probably the most prime example of gambler’s fallacy is in the lottery. I’ll get a ticket with 44.” As you hopefully understand by now, none of those statements are true. Washington’s face on that quarter doesn’t have a working brain.

What are the odds of flipping tails on a two-sided coin? 50%

Let’s say you flipped the coin ten times, and each of those times it was tails. Thousands of players, many who could be classed as having a gambling addiction, purchase tickets week after week, o

ften with various beliefs:The simple, “If I play long enough, I’m bound to win.” Cold numbers. No casino secret or betting system can ever overcome this fact. The odds of that happening are about .09% — quite extraordinary. “17 hasn’t been drawn in over two years.

Conclusion

From all this math-talk and examples, I hope you understand that, when in a casino, either an online casino or a land-based casino, each wager you make is independent of others, and having a losing streak doesn’t mean it will ever end. If you have lost $1,000,000 buying lottery tickets, not only have you wasted an ample amount of money, but you’d be foolish to think that by playing again, you’d be more likely to win. You see, it doesn’t matter what the previous outcomes were — it’s still 50/50. It’s got to be coming up soon.” Hot numbers. And no matter what supposed “patterns” there may be in the draws, each is completely random and independent of previous outcomes.

But what about computerized games?

One specific point I would like to end on are video slot machines and other computerized casino games. It’s kind of silly when you think about it. Crying “one more” too many times can lead to gambling addiction.

The reason behind the falsehood of the fallacy

Saying that you’re bound to win big eventually if you play long enough is false for, really, just one reason: inanimate objects don’t have memories. A reputable online casino (essentially, one that obeys the laws), as well as a land-based casino, is required to make each spin completely random. Casinos cannot program these machines to payout every x games, and thus, they are no exception to the lie that is gambler’s fallacy.

It’s quite a common, but sad, tale to hear: one of gambling addiction. So, what are the odds of flipping heads on the next flip? 50%


Posted by admin on April 11th, 2016 :: Filed under Uncategorized
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