Superstitions are common and popular with casino players. Most of them do not pose any risk to the players. What danger could it be that you wear your lucky charm when you play roulette? However, these can become a risk. Today we will talk about what it is and how to protect yourself from the gambler’s fallacy in casinos.
What is the gambler’s fallacy?
The gambler’s fallacy is a logical fallacy in which the player mistakenly believes that past events influence future ones. At first glance, it seems totally harmless, and that is where the danger lies. Some players take the arguments outlined in the gambler’s fallacy is true and risk their game and money.
Suppose you toss a coin in the air and it falls heads. Then you toss the coin another five times, and five times it falls heads. The most logical thing is that if you throw for the seventh time a cross comes out, right? However, you may have a hunch that tells you it will come back expensive. This example can be extrapolated to games of chance. Thus a roulette player can believe that if the ball has landed five times in the red, it will most likely continue to fall in the red.
If you are unable to see the danger of this reasoning, you may be just another victim of the gambler’s fallacy, which determines, among other things, that a random event is more or less likely to occur due to the above results.
If we are talking about totally random events between each other (like a coin tossed in the air, the throwing of a dice, or the spinning of a roulette), what you should always remember is that each event is totally independent of each other. Thus, no previous result has any impact on future events. Of course, the story would be different if we talk about trick games (for example, that the die has a certain construction deviation), but this is impossible to know in a casino.
As we have already mentioned, the gambler’s fallacy is very dangerous for players. This mainly affects players who are on a negative streak
How can you protect yourself from the gambler’s fallacy?
To protect yourself from the negative effects of the gambler’s fallacy, follow these recommendations:
• Remember that each random event is totally independent of each other. No matter how many times red has come out, the next turn has the same probability of coming out red as black.
• Set yourself a budget and stick to it. If you have exceeded your limit, stop playing. If you have won, enjoy the victory and if you have lost, take a break.
• Set time limits for your stay in the casino. There are no clocks in on-site casinos, and online casinos are open 24/7. So it is very easy to lose the feeling of a time when you are gambling. To avoid falling victim to the effects of the player’s fallacy, determine how long you want to stay in it.
• Define a strategy for your bets and follow it. If you want to bet on red using the Martingale system, do it. If you are going to apply Fibonacci at roulette, follow the instructions carefully. Do not let a series of results affect the strategy you have developed to bet.
The dangerousness of the game
The gambler’s fallacy is a real risk in casinos. The best recommendation we can make is to avoid falling into this trap at all costs.
Never forget that to win at the casino tables, you have to be aware of all the risks you are exposed to, such as a losing streak or situations such as the gambler’s fallacy. The best strategy is to always be prepared for any possible outcome.