Both land-based and online casino players want to go with betting options that will help them in making the most of their gameplay. But sometimes, players have biases that affect their playing decisions at the casino table.
One of the common biases that many casino players seem to have is known as the gambler’s fallacy. Continue reading to know what this casino “blind spot” is and how you can avoid it when playing online Blackjack games and other casino titles.
What is gambler’s fallacy?
Put simply, the gambler’s fallacy is a false notion that the outcomes of past events can influence future results. In other words, it’s the mistaken belief that if an event has occurred more frequently during a given time period, it has fewer chances of happening in the future. And if the event has occurred less than normal in the past, it has higher chances of happening in the future.
Gambler’s fallacy is also referred to as the Monte Carlo fallacy, all thanks to an interesting event that happened at the Monte Carlo casino in the early 20th century. The story goes like the ball on a Roulette wheel had landed in the black spot several times in a row. This got people into thinking that the ball would soon stop in the red slot and they started wagering vigorously on the red colour. But it wasn’t until the 27th spin that the ball finally stopped in the red pocket. This poor decision-making resulted in the players incurring huge losses that day.
Examples of gambler’s fallacy across different games
Below we’ve explained how the gambler’s fallacy bias applies to different casino titles:
Slots - If you’ve watched players playing slot games in a land-based gambling venue, then chances are you’ve also seen the gambler’s fallacy in action. Let’s assume a slot player has been playing on a specific slot machine for a while but hasn’t managed to land a winning combination. So, thinking that the machine is unlucky, the player hops onto the next machine.
As soon as the player switches the slot machine, someone else takes his spot believing that the machine would soon pay. But just like online slots and mobile slots, land-based slot machines use the RNG system to generate random results. So, the future outcomes of a slot machine won’t change just because the players believe they will.
Poker - You might say that both land-based and online Poker games involve some element of skill. And sure, they do. But it’s also important to keep in mind that the Monte Carlo fallacy applies to each new Poker round. Simply because a hand has played out in a certain way in the past, that doesn’t mean that the same will happen in the upcoming rounds.
Sure, the player’s bankroll may vary as the gameplay proceeds at the online casino UK. But in each new Poker round, the player’s cards must be treated as if they’ve just taken a seat at the Poker table.
Roulette - The game of Roulette offers a good example of how someone can succumb to the gambler’s fallacy. If a player is wagering on a group of numbers and that number combination has been winning for the past few rounds, they’re inclined to believe that the number group will win again, or vice versa. But again, this is nothing else than falling for the gambler’s fallacy bias.
How can I avoid the gambler’s fallacy?
Want to avoid falling prey to gambler’s fallacy? Then the good news is that by understanding what it is, you’ve taken your first step towards keeping away from any bad behaviours that could be influenced by this bias. But along with that, there are some other things you need to do to avoid falling into this trap.
When playing online Bingo or any other casino title where the Monte Carlo fallacy might influence you, you should remember the fact that these games don’t have any memory. So, the results of the previous rounds won’t affect the outcomes of the upcoming gameplay rounds.
Players who are finding it hard to control their gambling behaviours can take the help of the responsible gambling tools offered by top mobile casinos like ours. We take utmost care of casino security and have several responsible gambling tools in place to ensure all our players play responsibly.