Typical fallacies in gambling
Have you ever heard of Gambler’s Fallacy? This term stands for a mistake in thinking, which many players at the roulette table have already succumbed to. We’ll explain to you what the "Gambler’s Fallacy" is all about and loosen some of the other knots in your head that often occur in casinos or gambling.
In the casino world there is a wide range of different games. And everywhere, chance and mathematical probability are of great importance. But many players are not aware of this, which not only leads to losses, but often also to frustration. Great disappointment spread, for example, on an August day in 1913 in the Monte Carlo casino when the roulette ball unexpectedly hit black 26 times in a row. Many players made a mistake that night: they just couldn’t imagine that the ball would hit the same color so many times in a row. So after a few rounds they bet on red – and lost a lot of money.
But what exactly is "Gambler’s Fallacy"? Players assumed that past events would have an affect on future results. However, in an ideal roulette game – as it is the case in many online casinos – every result is equally likely: in every round, the ball can hit 50 percent on black and 50 percent on red. Each of the 38 numbers is as likely as the other. This means that the events are not interdependent.
However: after a very long period of time and a very high number of dish spins, it is actually the case that red as an event should occur just as often as black. This is due to the equal distribution of the events, but says nothing about the results after a few – relatively speaking – rounds.
But back to thinking traps: Many roulette players first observe a few rounds and remember which colors and numbers were hit. And then bet on the same color or number in a later round, since this happened particularly often in the past. But due to the mentioned characteristics of roulette this is also not a wise and profitable strategy. In fact, earlier casinos had roulette tables where certain numbers were more likely than others due to construction errors or wear and tear. But nowadays this is rarely the case.
Another common gambling phenomenon is that many players bet on certain numbers for symbolic reasons. For example, on the mother’s birthday or one’s own wedding day. Of course, it is possible that exactly this number will be hit. However, this is not more likely than any other possible number and thus an equally nonsensical winning strategy.
But why do people rely on symbolic numbers at all or cannot believe that an event happens 26 times in a row? Quite simply, our brain does not like coincidences, and therefore tries to see patterns in arbitrary sequences. If you consciously resist this search for patterns, you will not only act more prudently, you will probably also become a better player.
Now you know which typical thinking mistakes you better avoid in the casino – so you are ready to start playing at Wunderino! We offer not only Roulette, but many other table games, slot machines and live casino. Simply log in via your PC, tablet or smartphone using your browser or Wunderino App and use our free spins and bonuses. Have fun!
Now you are curious about more fun, interesting and crazy casino stories? Read here to learn about three incredible Roulette stories you just won’t believe.