So, with all of this in mind, remember to bet responsibly.
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. “44 seems to get drawn more than any other number. You see, it doesn’t matter what the previous outcomes were — it’s still 50/50.
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. Crying “one more” too many times can lead to gambling addiction.
A common example of the fallacy
Probably the most prime example of gambler’s fallacy is in the lottery. The odds of that happening are about .09% — quite extraordinary. 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. 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..
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. “17 hasn’t been drawn in over two years. It’s got to be coming up soon.” Hot numbers. 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. It’s kind of silly when you think about it. 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. 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. Washington’s face on that quarter doesn’t have a working brain. So, what are the odds of flipping heads on the next flip? 50%
It’s quite a common, but sad, tale to hear: one of gambling addiction. Never bet more than you can afford, and never try to chase your losses. 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. I’ll get a ticket with 44.” As you hopefully understand by now, none of those statements are true. Many
people cannot ever enter a casino for the purpose of entertainment alone, and feel a compulsive need to win