The 3 Biggest Fallacies of Gambling

1.      You can Identify Patterns in Random Number Sequences

Perhaps the ultimate gamblers fallacy, this belief has a simple premise that can significantly impede gamblers.

According to this fallacy, it is possible to pre-empt patterns among the most random number sequences, particular during opportunistic games such as roulette. To understand this further, imagine a scenario where a random coin is tossed 10 times in a row. This action has two potential outcomes (heads or tails), while the odds of achieving each remain at 1:1 at any given point in time. According to the fallacy, however, the odds of landing heads would improve incrementally in instances when consecutive spins result in tails.

In the case of roulette, adopting this mind-set causes players to identify patterns in random number sequences, which in turn encourages them to pre-empt results and potential outcomes. Over time, players may even be compelled to base their entire strategy on this fallacy, causing them to lose large amounts of their hard-earned money.

2.      Gameplay Strategies Offer Sure-fire Ways of Winning

There is often a significant debate surrounding games of chance and skills in the world of gambling, with many traversing the fine line that separates these two categories. Take roulette, for example, where strategies can be used to manage your bank-roll and optimise returns despite the random nature of each wheel spin.

While these strategies may enable you to deploy your capital wisely and in accordance with your appetite for risk, however, they do not provide sure-fire methods of winning or enjoying sustained success. It is a huge fallacy to think that any strategy can enable you to guarantee success, even in games such as poker where a relatively high level of skill is required.

Remember, all gambling activities are underpinned by an element of chance, so it is impossible to develop a lawful strategy that drives reliable or continued success.

3.      Online Poker is Easier Than the Traditional Iteration of the Game

This is a relatively new fallacy, and one which reflects the core nature of online poker and the way in which it can be differentiated from the traditional version of the game.

In simple terms, online poker eliminates one of the core skill-sets boasted by offline players, as participants cannot use the physical tells and behaviour of individual competitors to their advantage. Many new players or novices instantly seize on this as a perceived advantage online, but this does not account for the alternative challenges that arise when playing virtual or video poker. 

Take the increased pace of online poker, for example, which can appear relentless at first and often cause inexperienced players to make rushed or ill-informed decisions. There is also an excess of playing data available on you and your competitors online, and experienced players will be able to leverage this and determine everything from your skill level to your appetite for risk.

This makes online poker a decidedly more challenging game than it may initially appear, so you must think long and hard before choosing to enter live or virtual tournaments.

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