Fact-Check: Debunking 6 Gambling Myths

Fact-Check: Debunking 6 Gambling Myths

3/18/2020

All gamblers have their own tactics and tips to win. However, even the most experienced players will tell you a superstition they religiously believe in. Whether it’s told in jest or not, it’s always better to know the gambling myths circulating the industry. 

Gambling is a game of chance, but understanding the logic behind it will give you a better edge at winning. Learn the most common myths you should know in gambling and the truth behind them below:

1. Casinos Rig Games

Gamblers draw from the wrong conclusion when they say that casinos rig the games they offer. While the games have to be coded and thus can be tampered with, there are various legal measurements done to ensure this is avoided. One of these is the provably fair algorithm that ensures the game cannot be tweaked or tampered with.

There are also Random Number Generators (RNGs) encoded in the games to make sure that the outcomes are entirely random.

Additionally, house edges given by sites cannot manipulate the outcome of the game. The house edges ranging from 1% to 5% depending on the game is only the casino’s profit. However, you can make this work to your advantage if you know the house’s edge and wager smartly.

2. Luck is All You Need to Win

For some, luck influences their chances to win and lose. However, understanding casino games will prove that the outcome, despite the randomness, involves mathematics. Luck is just perceived as a result of your deviation from the mathematically calculated results.

3. You’ll Win After a Losing Streak

Although you are bound to win after some point, it’s common for gamblers to think that a losing streak means an imminent win. However, this can make you lose more money in the long run and it’s highly unlikely for you to win your money back.

4. Card Counting is Illegal

Films have exaggerated card counting. While casinos do their best to discourage its use, there’s nothing illegal with it. However, you’re free to use this mathematical system in most countries as long as it doesn’t interfere with your gameplay. Meanwhile, it’s impossible to use it online.

5. Online Casinos are a Scam

Online casinos profit from the same odds and probabilities that land-based casinos have. To ensure that you are playing in a safe and secure online casino, choose one that has a license to operate. A little research on the web will help you do so.

6. Gambler’s Fallacy: A Streak of Luck

There’s a human tendency to seek patterns in random information. Gambler’s fallacy gives you the belief that if something happens multiple times in a row, it’s more likely to happen again. Presumably this is the most prominent of the myths you should know in gambling, however, this claim doesn’t stand a chance in a game’s independent events.

Gambling Myths: Wager Smartly

Following some superstitions can be harmless, but they can get in your way of winning. Knowing gambling myths will help you realize their fatuousness. Most gambling myths are related to paranoia, superstition, or ignorance. 

Gambling is composed of math that means logic should always be in play. If you study a strategy to improve your chances of winning, it also pays to be well informed!

 

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