People completely misunderstanding odds at the casino

[alani123]

To this day I realize many gamblers fall for stupid lies or fallacies.

For instance many still think a slot machine can be "loaded" as if in today's day and age any slot machine would depend on physical coins inside it to do a payout.

Then there's people that genuinely believe the previous result had anything to do with the following. If red comes out two times in a row, the third one still has a 50/50 chance to come out though...

For me the one that takes the cake though is people believing it's reasonable to count cards in online live blackjack. Like really what's the point of counting cards when the shoe is cut in the half of 8 whole decks? Maybe you reduce your risk of ruin a tiny bit but the house edge is still there and there's still a lot of entropy for so many decks that are perfectly shuffled. The shuffle even happens on camera so it's pointless to argue that there's tampering. But to try and count cards is just a waste of time. The casino will just keep winning from the edge it has.

[uneng]

There are also those gamblers who believe that by placing bets where they have 90% winning chance or more means it's a safe bet. Moreover, there was a common belief in dice games when the first platforms were launched that if you started with 1 satoshi base bet and set an automatic bot to play for you applying martingale strategy, it was possible to make passive income from online gambling.

Many people tried the method back then thinking it was legit, and ended losing decent bankrolls just to make 1 satoshis profit per bet... And even after losing it was hard to understand why it happened that way, since it looked impossible to lose 20 times in a row, for an example.

As the industry evolves, old misunderstandings look dumb, but new false beliefs start being developed and adopted by gamblers. It's a never ending cycle.

[GreatArkansas]

(.....)
For me the one that takes the cake though is people believing it's reasonable to count cards in online live blackjack. Like really what's the point of counting cards when the shoe is cut in the half of 8 whole decks? Maybe you reduce your risk of ruin a tiny bit but the house edge is still there and there's still a lot of entropy for so many decks that are perfectly shuffled. The shuffle even happens on camera so it's pointless to argue that there's tampering. But to try and count cards is just a waste of time. The casino will just keep winning from the edge it has.

I'm curious, are these biases or some gamblers' illusions still existing in this modern world?
Especially now, most online casino games already use new tech features like RNGs or some algorithms or mathematics for shuffling, etc.

[Don Pedro Dinero]

You can see this right here on these gambling boards, where people are supposed to understand these concepts; and, of course, some of us do understand them, but there are plenty of people who don’t. I’ve sometimes heard it said that there are people writing here who don’t even gamble, and I don’t know to what extent that’s true; I suppose perhaps a small percentage of people who take part in signature campaigns don’t gamble and post on these boards simply because they’re required to. But they aren’t the worst; the worst are those who do gamble and believe that with some variation of the Martingale system they’ll be able to beat the casino, and things like that.

[BitMaxz]

To this day I realize many gamblers fall for stupid lies or fallacies.

For instance many still think a slot machine can be "loaded" as if in today's day and age any slot machine would depend on physical coins inside it to do a payout.

Then there's people that genuinely believe the previous result had anything to do with the following. If red comes out two times in a row, the third one still has a 50/50 chance to come out though...

If you believe there is a pattern in any slots, you are completely delusional. Slot machines or game programs dont have memory, but they do contain algorithms.
Some slot games are "sucker bait" designed to trick players into believing there is a pattern when there isn't.

For me the one that takes the cake though is people believing it's reasonable to count cards in online live blackjack. Like really what's the point of counting cards when the shoe is cut in the half of 8 whole decks? Maybe you reduce your risk of ruin a tiny bit but the house edge is still there and there's still a lot of entropy for so many decks that are perfectly shuffled. The shuffle even happens on camera so it's pointless to argue that there's tampering. But to try and count cards is just a waste of time. The casino will just keep winning from the edge it has.

But you’re right, the online card counting is the funniest. Even if you use all of the tricks and strategies you believe will work in cards, you will still lose.
So everything in the casino is based on luck; no matter how smart you are, you will still lose unless you are lucky. So there's no point in studying card games because everything there is totally random even in slot games.

[CryptoYar]

Delusion of Modern Gambler is another big trap since most people do not know that slot machines are ruled by safe computer codes known as PRNGs, which means that it is never ready or due for win even with amount of money in it.
Gambler Mistake in roulette is another major reason of loss since many people do not realize that wheel has no memory and each spin has 48.6 percent chance.
Such systems, in my view, are simply way of players feeling that they are in control, yet with automatic mixes and set house wins, casino is the only real winner in this game, and you are right in staying unsure that trying to beat these code rules will bring you anything but loss.

[Fivestar4everMVP]

Then there's people that genuinely believe the previous result had anything to do with the following. If red comes out two times in a row, the third one still has a 50/50 chance to come out though...

Well, I don't know much about counting cards and loading of slot machines, as a matter of fact, I've never heard about loading slot machines, this is the first time I am coming across information like this...
And about counting cards as well, I've heard about this a couple of times but don't know what it's like since I don't play blackjack or any other card games live on casino, I prefer to play this type of gemes physically.

The above I quoted is one I believed for a very long time and this actually contributed to the many loses Ive encountered in gambling, cus I remember back in the day when I will happy gambling and losing and believing that the more I lost, the bigger my win will be when I finally hit a win, and most times I end up very disappointed and feeling like the casino has cheated me out after getting a win and the amount Is not even up to a dollar 😁, I believed that cumulative loses leads to a bigger win for a long time before I finally learnt.

[un_rank]

It is okay to try and think you are playing with some strategy, it takes away how monotonous spinning becomes after a while, but no one should be deluding themselves that it is an actual profitable strategy. For 99.999% of everyone winning is dependent on luck in slots and plinko, with Blackjack the percentage drops slightly with some skill coming into play, with live sports, skill and knowledge plays a bigger part but luck is still the heavy decider.

But to try and count cards is just a waste of time. The casino will just keep winning from the edge it has.

But the casino will still try and kick you out for looking to do it successfully.

- Jay -

[OsaiEmma]

Well, I do think they might not be an illusion, I mean there have been ways in the past to beat the casinos, although it's always been frowned on by the casinos and they immediately call u out cause it will make them loose tons of money. But I think the issue is, gamblers keep trying to use that same old trick to beat this modern day pattern which will be very difficult to do.

Casinos evolved based on these old tricks, they tightened their protocol based on data gathered from these old tricks, so using it now will lead to more and more accumulated losses. I believe in the future (maybe not too far from now), strategies will be developed to beat the house again, and the house will respond in kind. Right now it might be an illusion, but once upon a time, it worked.

[yahoo62278]

To this day I realize many gamblers fall for stupid lies or fallacies.

For instance many still think a slot machine can be "loaded" as if in today's day and age any slot machine would depend on physical coins inside it to do a payout.

Then there's people that genuinely believe the previous result had anything to do with the following. If red comes out two times in a row, the third one still has a 50/50 chance to come out though...

For me the one that takes the cake though is people believing it's reasonable to count cards in online live blackjack. Like really what's the point of counting cards when the shoe is cut in the half of 8 whole decks? Maybe you reduce your risk of ruin a tiny bit but the house edge is still there and there's still a lot of entropy for so many decks that are perfectly shuffled. The shuffle even happens on camera so it's pointless to argue that there's tampering. But to try and count cards is just a waste of time. The casino will just keep winning from the edge it has.

The sad part is you can tell people that what they believe is incorrect, you can show them how and why, but they still don't change their thoughts. This machine is "due" or this 1 "owes" me bigtime. It's all fiction and random.

[YOSHIE]

To this day I realize many gamblers fall for stupid lies or fallacies.

The concept is that humans have normal brain function to think, in fact in general we know the patterns of games such as slot machines, Blackjack, poker or whatever games they are, but most of us don't think about the opportunity pattern, actually the opportunity strategy can be said to always favor the other party, so we always experience losing in the long term in every game.

So it is not without reason and without a clear purpose for casinos to implement various opportunities such as slots and blackjack as you said, of course we understand that the Blackjack game is difficult to count and understand cards online, we need to understand that's where the odds are always in favor of the casino, we can understand and give an example.
If we bet on a slot game, the odds given to us are no more than 30%, meaning that if the gambler places a bet of $10, the gambler can hope to have the opportunity to take home $6 and so on. for this reason, the more someone bets, of course the more they lose, even though in 100 gamblers there is 1 person for a certain period of time, in my understanding the opportunities and principles of gambling are actually simple, We can look for information on the casino's annual income whether we are lying or mistaken about the opportunities offered by the casino to its users.

[viljy]

Well, people generally misunderstand a lot of things. But society needs such people. They are very necessary. The economy is supported by their expenses. For example, a person who makes impulsive purchases of things he doesn't need is useful to the economy as a consumer, because he is easily amenable to marketing. Similarly, gamblers who have a very vague understanding of probability theory are very useful for the development of the gambling business.

[Grace333]

To this day I realize many gamblers fall for stupid lies or fallacies.

For instance many still think a slot machine can be "loaded" as if in today's day and age any slot machine would depend on physical coins inside it to do a payout.

Then there's people that genuinely believe the previous result had anything to do with the following. If red comes out two times in a row, the third one still has a 50/50 chance to come out though...

For me the one that takes the cake though is people believing it's reasonable to count cards in online live blackjack. Like really what's the point of counting cards when the shoe is cut in the half of 8 whole decks? Maybe you reduce your risk of ruin a tiny bit but the house edge is still there and there's still a lot of entropy for so many decks that are perfectly shuffled. The shuffle even happens on camera so it's pointless to argue that there's tampering. But to try and count cards is just a waste of time. The casino will just keep winning from the edge it has.

These are people trying to play smart by thinking they can find patterns in a casino game, but they usually end up learning the hard way because the algorithm of casinos was built to operate at random result generation, so trying to find patterns is just a complete waste of time because the probability of 1 result to pop out of 2 is 50% and the probability of 1 result out of 3 is 33.3% and so on. I've also seen people who looked for clues like this but ended up being disappointed.

[Achalugo BTC]

You can see this right here on these gambling boards, where people are supposed to understand these concepts; and, of course, some of us do understand them, but there are plenty of people who don’t. I’ve sometimes heard it said that there are people writing here who don’t even gamble, and I don’t know to what extent that’s true; I suppose perhaps a small percentage of people who take part in signature campaigns don’t gamble and post on these boards simply because they’re required to. But they aren’t the worst; the worst are those who do gamble and believe that with some variation of the Martingale system they’ll be able to beat the casino, and things like that.

You are right and no matter how you tried to tell and teach them the facts, they will just stand on their decision, that is why most of them get easily tangled in becoming addicted, which they do make mistakes and instead of learning from their mistakes, they  will still have to repeat it, with the hope that gambling will turn out to be in their favour. Which they are already aware that gambling is a game of fun and entertainment and not a game that support one financially, and it doesn't work on skills but by luck.

[nimogsm]

There are also those gamblers who believe that by placing bets where they have 90% winning chance or more means it's a safe bet. Moreover, there was a common belief in dice games when the first platforms were launched that if you started with 1 satoshi base bet and set an automatic bot to play for you applying martingale strategy, it was possible to make passive income from online gambling.

Many people tried the method back then thinking it was legit, and ended losing decent bankrolls just to make 1 satoshis profit per bet... And even after losing it was hard to understand why it happened that way, since it looked impossible to lose 20 times in a row, for an example.

As the industry evolves, old misunderstandings look dumb, but new false beliefs start being developed and adopted by gamblers. It's a never ending cycle.

It seems like it happened just yesterday, even though many years have passed. And you're absolutely right: I think many people tried this system and were convinced they could beat the game because they'd found a weak spot, but the results were always the same. It's safe to say that another five years will pass, and players will still be thinking the same way and betting according to the Martingale system.

[Awaklara]

To this day I realize many gamblers fall for stupid lies or fallacies.

With modern gambling like today, it seems that there are still casino gamblers who think that way. Even though we can tell them about their mistaken thinking, it is difficult to change the way they gamble. 
Some gamblers are more receptive to input, but some gamblers are very difficult to advise. They only care about the way and what they believe. 
So, I think letting them gamble in their own way and think about the odds in the game is the best. Hopefully, they will realize it on their own.

[qwertyup23]

For me the one that takes the cake though is people believing it's reasonable to count cards in online live blackjack. Like really what's the point of counting cards when the shoe is cut in the half of 8 whole decks? Maybe you reduce your risk of ruin a tiny bit but the house edge is still there and there's still a lot of entropy for so many decks that are perfectly shuffled.

I also do think that you’re not understanding it completely the essence of gambling. People do count cards because they want to squeeze every bit of water in that stone- meaning, they would do anything to at least gain the littlest advantage on their side.

I am pretty sure these gamblers are aware of this. You may argue that what they’re doing is in vain but I beg to argue otherwise.

Delusion of Modern Gambler is another big trap since most people do not know that slot machines are ruled by safe computer codes known as PRNGs, which means that it is never ready or due for win even with amount of money in it.
Gambler Mistake in roulette is another major reason of loss since many people do not realize that wheel has no memory and each spin has 48.6 percent chance.

Again, gamblers would do anything to at least have the slightest advantage because relatively huge amounts of money are involved. Do you think what they’re doing is in vain? I do not think so; perhaps I would do the same thing just to have any kind of advantage.

[iv4n]

For instance many still think a slot machine can be "loaded" as if in today's day and age any slot machine would depend on physical coins inside it to do a payout.

Yes, many still think/believe in crazy things & myths about gambling... I guess that's exactly why some things are worth repeating over & over again.

Slots don't have memory, no perfect timing... Every spin is just a spin. All players often fall into the same traps, but in reality, we are just playing against numbers. And the sooner we break some illusions, the better.

I have been talking for years... when we deposit $xxx and decide to play slots, we should be ready to have some fun and also be ok with losing it. Things can easily go both ways with slots. You know how they say it... don't hate the game...

[Cryptmuster]

To this day I realize many gamblers fall for stupid lies or fallacies.

For instance many still think a slot machine can be "loaded" as if in today's day and age any slot machine would depend on physical coins inside it to do a payout.

Then there's people that genuinely believe the previous result had anything to do with the following. If red comes out two times in a row, the third one still has a 50/50 chance to come out though...

For me the one that takes the cake though is people believing it's reasonable to count cards in online live blackjack. Like really what's the point of counting cards when the shoe is cut in the half of 8 whole decks? Maybe you reduce your risk of ruin a tiny bit but the house edge is still there and there's still a lot of entropy for so many decks that are perfectly shuffled. The shuffle even happens on camera so it's pointless to argue that there's tampering. But to try and count cards is just a waste of time. The casino will just keep winning from the edge it has.

I’ve said this many times, casinos are run by very smart people who have probably already calculated all possible probabilities. Everything is structured in a way that ensures the advantage is always on their side. So no card counting or any other method will help you shift the edge in your favor. The only area where I believe you can compete with the casino on equal terms is betting. Because here, to a large extent, everything depends on your skills in money management, risk management, and match analysis.

[mindrust]

Let's face it, most gamblers don't know how to do math. That's why they keep losing money in the long run. Those who know how to do math either don't play at all or they chase EV/arbitrage bets and casinos ban those accounts whenever they notice their pattern. Everybody else is losing money. If you know you are going to lose any way, at least do it for fun. That's why I always advise people to play for fun because at least you get some entertainment value out of it. If you are going to be a professional gambler, having an account on a random casino won't be enough. You'll need assurances from the casino because you'll be eating away some of their profits if you keep winning in the long run.