Myths, misconceptions and the psychology of gambling

As iam1688 long as gambling has existed, there have been myths about it. We all believe that we can cheat fate, that we can turn the wheel of fortune in our favor or influence the outcome of an unpredictable game. No matter how reasonable we are, this feeling, this hope kept appearing from time to time, even showing us some “examples” – that boy won because he chose a hot slot; the neighbor was lucky because he followed a logical algorithm; he did not give up and in the end he won because after many losses comes a big win… The examples can go on but we are here to tell you once again what the misconceptions are and why all these stories are myths and have no a link to the psychology of gambling.

We bust the myths about slots

Myth #1: A losing streak is followed by a big win
Many have fallen into this trap. This myth also led to the creation of strategies that are still used today. I’m referring to the Martingale strategy, which involves a progressive betting style based on this very misconception – that you will eventually win. One thing is for sure: the probability of running out of money is higher than the chance of making a huge win. There is no guarantee that a prolonged losing streak will be followed by a winning streak. At best you can make a moderate win which is then followed by another series of losses. Don’t fall into this trap! Gambling is unpredictable and logical calculations and algorithms do not work here. The only one who can help you is Luck which is not dependent on anything and cannot be directed.

Myth #2: I’m different from other players
“The house always wins” – we know this expression and we know that gambling is only for fun. They are not a way to make steady profits. We must expect to receive only entertainment, not rewards. If they appear, they are welcome, but the purpose of gambling is to entertain us. Don’t imagine you can beat the House, don’t think you’re special. If in the history of gaming you read about the people who succeeded, consider that this is a multi-billion dollar industry that dates back many years. Over such a long period and such a massive spread it is normal to have cases of big wins, even sometimes massively spread precisely by the casinos to advertise themselves and convince you that such a thing is happening. Yes, true, it happens, but very rarely.

I play at the casino

Myth number 3: Hot slots…. Cool slots
The biggest myth, the biggest conspiracy in the world of gambling. The outcome of each spin is as random as the outcome of the previous spin, so don’t go throwing all your money at once under the illusion that the slot machine is in a good mood and is a hot machine. The concept of hot and cold slots is a spin-off from the player experience. Some players believe that they may be able to identify the number of spins, the processing time and the behavior of the machine and may be able to predict whether the slot would pay a good amount or not. But the truth is that the spins at the table are very random. There may be times when slots produce the same result more than once and this may appear to be a pattern,

Also, when asked to call a hot slot or a cold slot machine, players have different views. Some suggest that investing in hot slots is beneficial as they are in their payout cycles, while some suggest that cold slots would perform better as they will now start their payout cycles. Both concepts are highly subjective and not valid. The spinning of the slot or the cycle in which it operates is uncontrolled. However, it is important to address that slots are programmed machinesand they also cannot generate more than what they are programmed to. Slot machines are not programmed to memorize and each spin independently of the previous spin. It simply means that: Slots are certainly programmed to produce random results and cannot be completely changed or predicted, but the fact is that slot programs (RNG) are made to pay a certain amount over a period of time (RTP). .

Hot and cold slots

Myth #4: The slot goes cold after winning the Jackpot
True, but not in the way you think! A jackpot won will not make a machine cooler, but if a machine has a high jackpot, then its daily play will be slightly lower than the stated RTP. This is because this figure has to take into account that someone will eventually win the jackpot. However, by the very nature of jackpots, they don’t come often! This means that every day the payout percentage will be lower than the published one, and unless you win the jackpot, it will stay that way. This only applies in a significant way to very large jackpots and therefore we do not recommend playing progressive jackpot slots very much! Anyway, as far as busting the myth that a jackpot will make cars cooler, I go back to what I just described that every spin is unique. It’s technically possible to hit a jackpot twice in a row, it’s just unlikely!

I hope this article has helped dispel some of the conspiracy theories that can be found about slot games and help you enjoy responsible and enjoyable gaming. Play for the fun of playing, don’t get your hopes up, don’t bet more than you can afford to lose. By following these simple rules and putting aside all the theories and myths, you will have many more benefits, including financial ones. Online casinos offer games with a much higher return-to-player rate than land-based ones, and at the same time you have an extremely variable range so everything is within reach. And if you are a jackpot hunter, you can still find the biggest ones online.

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