More About The Common Gambler’s Fallacy

When it comes to casino games and getting an edge over the house there are many approaches taken by players. Practicing, researching, or otherwise getting better at the game is the right approach. These methods are all good ideas, and certainly the right way to go about it.

But some, players attempt to improve their odds by believing myths, legends, or completely incorrect fallacies. In the world of casino games, fallacies and superstitions are common. Though you are still welcome to carry a rabbit’s foot if you believe it will help.

One of the most popular misconceptions is known as the gambler’s fallacy, and it is the exact wrong approach to take if wanting to beat the house. In fact, it is a sure-fire way to ruin your chances of winning entirely.

But if determined to approach casino games smartly, it is important to understand what the gambler’s fallacy is, learn why it is wrong, and most of all; learn how to avoid it.

What Is Gambler’s Fallacy?

Whether you are playing Blackjack, or visiting Aussie sports betting sites to place wagers, the fallacy is always present. It is the incorrect notion that if a certain event has occurred frequently, or infrequently, that it will do the opposite in the future. For example; in Roulette, if red has come up frequently, the belief is that black is now more likely to come up. This is not true. Or, alternatively, the belief can be that if a certain number on the board has not come up, that it is now due to make an appearance. Not true.

The fallacy can also apply to Blackjack. If the dealer has just come up with an instant 21, in the next round that is less likely to happen. Also not true.

In the world of casino games, each round of play presents the exact same chances of an event occurring. There is always the same chance that the Roulette wheel will come up red or black. The odds do not change with each round, they stay exactly the same. A player who is misguided into thinking that a Roulette wheel somehow has a memory may change their betting strategy based on this notion, but it is a very poor decision to make, and is guaranteed to result in losses.

Strategy Rather Than Fallacy

Understanding what gambling odds are, and how they work, is always the smartest approach. There are numerous betting strategy guides available for the most popular games, all of which have been soundly thought out and designed. Adopting one of these strategies, and experimenting with it, is always preferable.

In Roulette, spreading bets out to cover a good portion of the board, and placing larger bets in key areas to cover bets, is a good strategy. In Blackjack, learning that the object of the game is to beat the dealer, and not get as close to 21 is step in the right direction.

Playing according to myths, or otherwise betting erratically, are the mistakes made by rookies, amateurs, and those who walk away with empty pockets.