Gambler’s fallacy can be a real threat to any player. It’s very easy to get carried away and lose yourself in the moment whilst playing online slots games. Your mind can fall to the trick at any moment, but there are ways to avoid it so you can safely play online casino.
The Psychology Of Gambler’s Fallacy
First of all, before attempting to improve any situation it’s always better to grasp a better understanding of what we’re trying to deal with. Psychologically, humans are conditioned in such a way as to believe that everything has an order or sequence. As in most cases, this is due to basic evolutionary principles.
So, when it comes to gambling we believe that there has to be sequence – a result cannot go on forever. For example, some players develop the notion that, following a succession of losses, they are more likely to win. But, the reality of the situation is that the chance of a win remains as likely as a loss.
That Famous Monte Carlo Night
Gambler’s fallacy is also known as “The Monte Carlo Fallacy”. Most table casino gamblers will be able to recall this story.
One dazzling night in Monte Carlo created quite a stir when a roulette ball landed on the black an unbelievable 26 times in a row. Players lost an incredible amount of money consistently gambling for a red, believing there had to be a reversal at some point. This is the perfect example of gambler’s fallacy.
How To Avoid Gambler’s Fallacy When Playing Slots
You can avoid gambler’s fallacy by conditioning your brain to have a different approach when playing slots. It’ll mostly come down to training and experience, but these tips are a great start.
Understand The Logic
Now that you understand a little bit more about how gambler’s fallacy works, it’ll be easier to spot it when it’s happening to yourself. You may catch yourself in the moment falling victim to gambler’s fallacy when you’re in the middle of a game.
After all, if you’re never taught about a topic, you may never notice it unfolding in your own actions.
Treat Each Event As A New Beginning
Understand that each spin you make in a slot, or each card that is dealt, do not belong as part of a sequence. It is completely random.
Take for example flipping a coin, each coin flip has an individual 50/50 chance of landing a heads or a tails. Treat every spin as a new beginning that has nothing to do with the previous spin whatsoever.
Randomise Your Moves
If you know you’re a player that’s prone to gambler’s fallacy, you may have to take certain actions to prevent yourself from expecting certain outcomes.
The key is to detach any emotion you have to a game and completely randomise your moves. The best approach is to stop overthinking and follow the logic.
It Gets Better With Age
As cringey as it sounds, experience makes you wiser. Harvard University has conducted a study that concludes that you’re less likely to fall victim to gambler’s fallacy as you age.
The more experience you have, the more understanding you have of a game. You won’t try to find patterns in your slot games because you know that it had never worked in the past.
Take A Break
Gambling is only ever fun when you have the means to keep on playing. The worst thing you can do is chase your losses. Never expect to receive a big win because you haven’t had one in a while.
You should only gamble for the entertainment aspect and wager what you can afford to lose. It may be wise to take a break and come back to the game with a fresh mind.