Unveiling the Truth: Harnessing Luck in Vegas
Eventually, the law of averages takes its course in random casino games. The number of outcomes, no matter if it's a number, color, or symbol, will hit according to their frequency. But for gamblers, the long term is inaccessible - only the short term matters; a moment where they can make a decision. In the short term, a gambler's predictions about what happens next in random casino games are incorrect.
This flawed thinking is what's called the gambler's fallacy.
The Persistence of Streaks in Nature
The human brain is wired to see patterns, even when there aren't any. It's an evolutionary trait, passed on from our ancestors on the African plains. Spotting dangerous predators among rustling grass was a crucial skill in survival, so we've evolved to see patterns throughout nature.
Unfortunately, this skill doesn't come without costs. Although misreading the wind for a tiger on the plains wasn't as bad as the opposite, it can have damaging consequences, especially on the Las Vegas Strip. Gamblers who miss the truth about random casino games can end up losing a lot of money.
Casinos are well aware of this flaw in human reasoning. They use digital displays on roulette tables to show recent winning numbers and colors, feeding into the unfounded belief that patterns in the game exist. Some even have displays labelling "hot" and "cold" numbers, further encouraging players to exploit nonexistent patterns.
The Price of Being Misguided
The odds of a number or color hitting again stay the same, regardless of how many times it's already come up.
Casino expert and Las Vegas Advisor publisher, Anthony Curtis, explained, "What’s called the gambler’s fallacy is connected to such narratives." According to him, "Patterns only exist in the rear-view mirror. You can only look back and see what they did. So, there's no strategy you can adopt to predict them."
Streaks of luck or bad luck are part of the nature of these probability-based games. However, neither is predictable. "Players want to have a run or a 'hot' streak and use it, but they never experience having one. It's only normal fluctuations in results," Curtis said.
The belief in pattern-making and predictability can be misleading and costly in the wrong environment, like a casino.
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Source: www.casino.org
