People completely misunderstanding odds at the casino

[TheUltraElite]

That last result was red so next one will be green is a age old myth and still running fresh among gamblers. Every game is uniquely generated and has no relation to the previous one is something I have to explain again and again to quite a few frustrated gamblers.

They eventually understand that counting cards in modern BJ games is a waste of time and a headache at the most, luck plays the major role.

Any reputed casino out there is least bothered in rigging its games such that you are going to lose your money because they make so much of it they dont really care who wins some few dimes extra, in case of any lucky winner.

[TopTort777]

I would like to comment on how I see odds in casino or sports betting. If I see an underdog with 4.00 odds and opponent with +1.00 odds, and then all of a sudden underdog wins. Then this isnt a huge miracle and shocking result for me. I see this like this: I count odds and express them underdog has 20% chances of winning, or will win in 2 out 10 matches if they meed 10 times. The fact that underdog won this timemeans that in universe that one out of 10 matches has happened. If they meet next time, he his chances of winning will be extremely lower than today.

[Nrcewker]

I completely agree with your point about the odds in red and black betting. I have also noticed that while betting on dice or Hi-Lo, if a player gets “low” that is less than 49 two or more times in a row, they often assume the next result will be “high” that is above 49. However, in reality, the probability is still 50-50 for each independent bet.

Ultimately, gambling is all about taking chances and trying your luck. Many people have won significant amounts of money, while many others have lost their entire wealth. In the end, the casino is the one that consistently makes money because of the house edge.

Therefore, I would suggest that casino players consider moving from casino games to sports betting. At least in sports betting, you have the opportunity to analyse teams, players, statistics, and other factors before placing a bet, rather than relying purely on chance.

[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.

I think the old slot machines would be fun to play honestly. I wanna win so many coins they start spilling onto the floor, but yea these days it's all tickets to take to the cashier or a machine.

The "due strat" is funny cause anyone with a brain knows it's all random, but you can't convince some. Hopefully those that cannot be convinced aren't running the country, we're all fucked if so.

[Cointxz]

I completely agree with your point about the odds in red and black betting. I have also noticed that while betting on dice or Hi-Lo, if a player gets “low” that is less than 49 two or more times in a row, they often assume the next result will be “high” that is above 49. However, in reality, the probability is still 50-50 for each independent bet.

That’s the typical gambling fallacy which many gambler believe since casino games is pure random while some preferred something as guide that’s why this illusion was created.

There’s also regression to the mean which at some point the result will balance to the suggested percentage but that doesn’t each bet was connected to each other. We can’t determine on what size of bet it will balance the result assuming the game is fair to their probability.

[Accardo]

That’s the typical gambling fallacy which many gambler believe since casino games is pure random while some preferred something as guide that’s why this illusion was created.

There’s also regression to the mean which at some point the result will balance to the suggested percentage but that doesn’t each bet was connected to each other. We can’t determine on what size of bet it will balance the result assuming the game is fair to their probability.

It's natural to go for black on the next spin if a roulette ball or pill stops at red for the tenth consecutive times, some would also stick to black ever since the ball kept on falling on red five consecutive times, and would lose comfortably all through the session.

[eisen33]

That’s the typical gambling fallacy which many gambler believe since casino games is pure random while some preferred something as guide that’s why this illusion was created.

There’s also regression to the mean which at some point the result will balance to the suggested percentage but that doesn’t each bet was connected to each other. We can’t determine on what size of bet it will balance the result assuming the game is fair to their probability.

It's natural to go for black on the next spin if a roulette ball or pill stops at red for the tenth consecutive times, some would also stick to black ever since the ball kept on falling on red five consecutive times, and would lose comfortably all through the session.

I don't think there's a right answer here, I've tried different approaches, including doubling my bet every time. I can tell you it won't work, no matter what you bet on red or black, consecutive or not. You'll end up losing your money anyway, because probabilities can work out randomly, and you can't calculate them. Once you understand this, you won't bet on red or black. You'll go to betting, where everything is a little simpler, if you understand the sport you're betting on.

[cryptomaniac_xxx]

That’s the typical gambling fallacy which many gambler believe since casino games is pure random while some preferred something as guide that’s why this illusion was created.

There’s also regression to the mean which at some point the result will balance to the suggested percentage but that doesn’t each bet was connected to each other. We can’t determine on what size of bet it will balance the result assuming the game is fair to their probability.

It's natural to go for black on the next spin if a roulette ball or pill stops at red for the tenth consecutive times, some would also stick to black ever since the ball kept on falling on red five consecutive times, and would lose comfortably all through the session.

I don't think there's a right answer here, I've tried different approaches, including doubling my bet every time. I can tell you it won't work, no matter what you bet on red or black, consecutive or not. You'll end up losing your money anyway, because probabilities can work out randomly, and you can't calculate them. Once you understand this, you won't bet on red or black. You'll go to betting, where everything is a little simpler, if you understand the sport you're betting on.

That's the fastest way to lose money if you uses martingale system. And you needed to have a lot of capital to begin with. But if you're unlucky, then you won't recover your capital with that one big win.

So it boils down everything on luck. There is this so called gambler's fallacy that others might still believed. We are talking about luck base game here, sports betting might be different but still though, luck could be a big factor as well.

[Cointxz]

That’s the typical gambling fallacy which many gambler believe since casino games is pure random while some preferred something as guide that’s why this illusion was created.

There’s also regression to the mean which at some point the result will balance to the suggested percentage but that doesn’t each bet was connected to each other. We can’t determine on what size of bet it will balance the result assuming the game is fair to their probability.

It's natural to go for black on the next spin if a roulette ball or pill stops at red for the tenth consecutive times, some would also stick to black ever since the ball kept on falling on red five consecutive times, and would lose comfortably all through the session.

I don't think there's a right answer here, I've tried different approaches, including doubling my bet every time. I can tell you it won't work, no matter what you bet on red or black, consecutive or not. You'll end up losing your money anyway, because probabilities can work out randomly, and you can't calculate them. Once you understand this, you won't bet on red or black. You'll go to betting, where everything is a little simpler, if you understand the sport you're betting on.

There’s no right answer here since no one can determine what will be next possible outcome.

It’s more on gambler preference on how they play the game to the way they will enjoy the most. What foolish thing to do is bet a significant amount of money just because black consecutively winning for a long streak so red will come later on.

However, if gambler is just betting what he can afford to lose then there’s nothing wrong if they will follow pattern or bet randomly.

[Ziskinberg]

I completely agree with your point about the odds in red and black betting. I have also noticed that while betting on dice or Hi-Lo, if a player gets “low” that is less than 49 two or more times in a row, they often assume the next result will be “high” that is above 49. However, in reality, the probability is still 50-50 for each independent bet.

That’s the typical gambling fallacy which many gambler believe since casino games is pure random while some preferred something as guide that’s why this illusion was created.

There’s also regression to the mean which at some point the result will balance to the suggested percentage but that doesn’t each bet was connected to each other. We can’t determine on what size of bet it will balance the result assuming the game is fair to their probability.

Without gamblers who think that way, gambling would never be fun. Part of the excitement comes from being superstitious—or maybe even a little foolish—and believing that we can win. That belief keeps us searching for new strategies, and the challenge is what makes gambling entertaining.

Without that challenge, there wouldn’t be much reason to gamble. People may call gamblers stupid, but they’re also the reason the gambling industry has grown so much.

[Cleanshit]

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.

Allot of mistake gamblers do it having to confuse wining strategy and luck. Having to get few wins fah make them believe Dey have found a Systerm but with time things changes and it another story. And I will always say if u want to gamble do well to see it as an entertainment then a source of income if not you will cry oh. Do well to spend what you can afford to loss and also this very part known when to stop. Allot of people greed will not let them wins and they will want to risk it again end up losing Everthing.

[DPHOR]

I completely agree with your point about the odds in red and black betting. I have also noticed that while betting on dice or Hi-Lo, if a player gets “low” that is less than 49 two or more times in a row, they often assume the next result will be “high” that is above 49. However, in reality, the probability is still 50-50 for each independent bet.

That’s the typical gambling fallacy which many gambler believe since casino games is pure random while some preferred something as guide that’s why this illusion was created.

There’s also regression to the mean which at some point the result will balance to the suggested percentage but that doesn’t each bet was connected to each other. We can’t determine on what size of bet it will balance the result assuming the game is fair to their probability.

Without gamblers who think that way, gambling would never be fun. Part of the excitement comes from being superstitious—or maybe even a little foolish—and believing that we can win. That belief keeps us searching for new strategies, and the challenge is what makes gambling entertaining.

Without that challenge, there wouldn’t be much reason to gamble. People may call gamblers stupid, but they’re also the reason the gambling industry has grown so much.

Of course you are right, without gamblers the gambling site wouldn't exist today so they shouldn't see those who are gambling as people who do not have future or even knowing what they are doing.
People ought to seek for different strategies to win or a diverse way to keep winning for long run, because what keeps gamblers going is the ability for them to discover different strategies that could fetched them more winning even if they are losing, of course everyone must not act the same while gambling.

[Findingnemo]

Odds is not the right term, it should be fairness or randomness in my opinion.

People who are ignorant about the matter will criticize that the games are rigged or they have better chance of winning on particular slot machine, etc. But there is no real method to make anyopne win even the casino don't control who is winning that is why they have maximum cap on the winning limit to keep their bankroll safe.

[Dr.Bitcoin_Strange]

It's natural to go for black on the next spin if a roulette ball or pill stops at red for the tenth consecutive times, some would also stick to black ever since the ball kept on falling on red five consecutive times, and would lose comfortably all through the session.

The more a player feels that he or she have understood everything and that the next outcome is definitely going to be what they expect it to be simply because one colour has repeatedly appeared for some number of times, they will even lose more because that's just a trap according to the games algorithm, one can not specifically be right always following the repetition of a number.

[danherbias07]

I completely agree with your point about the odds in red and black betting. I have also noticed that while betting on dice or Hi-Lo, if a player gets “low” that is less than 49 two or more times in a row, they often assume the next result will be “high” that is above 49. However, in reality, the probability is still 50-50 for each independent bet.

Ultimately, gambling is all about taking chances and trying your luck. Many people have won significant amounts of money, while many others have lost their entire wealth. In the end, the casino is the one that consistently makes money because of the house edge.

Therefore, I would suggest that casino players consider moving from casino games to sports betting. At least in sports betting, you have the opportunity to analyse teams, players, statistics, and other factors before placing a bet, rather than relying purely on chance.

Yeah. That I will agree. I actually already did it. Switching from slots to sports betting, and I can say I save more money than I spent before. Slots are a very expensive game, and even if you are betting the lowest amount that is available, you can still find yourself losing hundreds to thousands of dollars.
The house edge is really high on those types of games, which is very different when it comes to sports. The choice is ours when we bet on sports, unlike in slots, where we only wait for what the system will give us. They are fun to play, there's no doubt about that, but the odds of winning are very low.

[henmark]

That last result was red so next one will be green is a age old myth and still running fresh among gamblers. Every game is uniquely generated and has no relation to the previous one is something I have to explain again and again to quite a few frustrated gamblers.

Yes. It is one of those oldest myth in the book, hehe. I think the reason why many still believes on it, is because they think it actually works like that. Even for myself I get convinced with this most of the times. This is also the reason on why martingale method exist. There are still times though that it won't work. I guess this is where we can say that a previous red streak is a sign that we are unlucky that day, and that we should not continue anymore because the same results are only going to be felt.

They eventually understand that counting cards in modern BJ games is a waste of time and a headache at the most, luck plays the major role.

Casinos must be aware of it, so they change the way the game is usually played. Things should get harder if we are playing online because we can not see all the stuff going around.

[Achalugo BTC]

I don't think there's a right answer here, I've tried different approaches, including doubling my bet every time. I can tell you it won't work, no matter what you bet on red or black, consecutive or not. You'll end up losing your money anyway, because probabilities can work out randomly, and you can't calculate them. Once you understand this, you won't bet on red or black. You'll go to betting, where everything is a little simpler, if you understand the sport you're betting on.

Well, its better for one to go with what they understand much better and how to navigate their way through than to bet on a game they don't really understand anything or have any idea about, which will literally cause them to lose more money by making them to spend unnecessary and since the game can't be predicted and even if one can make use of the information they got, it won't still change anything but my advice is one should bet with what they can comfortably risk.

[Myleschetty]

However, I don't understand your statement when you said "therefore the time you are joining the game is important". Is there a specific time for gambling to be profitable?

I noticed that two of my highest wins were in the night, but I also win during the day. There are many times that I lost more at night, so everything is just a coincidence. If he is saying that there are specific time of the day that people can make money most in gambling, I do not believe it. It can be a coincidence for him and it can not always continue like that.

I appreciate you providing additional context for the statement.
I once watched a video on Instagram where someone claimed that Thursday night is the best time to play a slot game to have a chance of winning, so that's why I asked him if there was a specific time to gamble to have a high chance of winning.
We can both agree that there will be an inevitably be some flaws in every game, which is something that people like Billy Walters found, to have a 30 year winning streak in sports betting, and Edward Thorp, but I never believed what the man said in the video, even though he was using a real slot game as an example.

[Chinesebaby]

It's natural to go for black on the next spin if a roulette ball or pill stops at red for the tenth consecutive times, some would also stick to black ever since the ball kept on falling on red five consecutive times, and would lose comfortably all through the session.

But on the contrary, it's still possible to go black after 10 consecutive reds and the 11th will still fall on red, as for the fact that red have shown multiple times, that it next one will fall on red, since roulette is a game whose outcome is totally base on the product of random algorithm, and your previous games has absolutely nothing to do with the forthcoming ones. Unless if you may have mastered the roulette wheel in a certain way that you know the amount of force to apply that will give you a range or certain numbers. Which is why betting on a range of numbers is always my favorite than betting on the colors, but only on a physical casino.

[KTChampions]

I completely agree with your point about the odds in red and black betting. I have also noticed that while betting on dice or Hi-Lo, if a player gets “low” that is less than 49 two or more times in a row, they often assume the next result will be “high” that is above 49. However, in reality, the probability is still 50-50 for each independent bet.

That’s the typical gambling fallacy which many gambler believe since casino games is pure random while some preferred something as guide that’s why this illusion was created.

There’s also regression to the mean which at some point the result will balance to the suggested percentage but that doesn’t each bet was connected to each other. We can’t determine on what size of bet it will balance the result assuming the game is fair to their probability.

But this is also not a correct idea of ​​probabilities (either I misunderstood or you formulated it incorrectly). If red lands 10 times in a row, that doesn't mean that 10 more black lands "must" land at some point for the numbers to balance. The balance can be off (and by many more than 10 lands), but if you take a long period, the average numbers will match the expected values. For example, over 100,000 ball tosses, even a 100-point imbalance in favor of red won't make any difference.