3 Gambling Myths Explained

Written by:
C Costigan
Published on:

Gambling has been a part of mass culture since the 6th century BC.

In all that time, there have been a large number of gambling myths that have sprung up.

Some of these myths have been repeated so often that many people believe them to be true.

Read on as we debunk three of the biggest myths about gambling.

What Happened in the Past Affects What Happens Next

A number of gambling myths are based around the same misguided belief that what happened in the past will affect what happens next.

The simplest version is tossing a coin. Many people believe that if you flip a coin and it lands heads ten times a row, the chances of it landing on tails on the next throw are more than evens. Since there have been so many heads, we must be due a tail now, right?

Coins don't have memories, however. It makes no difference what happened in the past; the odds of landing on tails is the same as it always was and always will be.

The same flawed logic is responsible for the belief that there are "hot" slot machines, or that a roulette wheel must land on black after a run of reds.

It's Illegal to Count Cards

Casinos would love you to believe this is true, but the fact is that there are no state or federal laws prohibiting counting cards, as long as you don't use any external device to do so.

If you're clever enough to keep track of hundreds of cards when gambling, then you're not doing anything illegal. If a casino suspects you are doing it, however, they may try some tactics to deter you such as using even more decks or shuffling the cards at random intervals.

Some casinos may also ban you if they suspect you're counting cards, but you can't be arrested for doing it.

The Martingale System Is Foolproof

It's one of the best-known gambling systems in the world that can supposedly overcome the old adage of the bookie always winning.

If you're playing roulette, put $10 on red. If you lose, put $20 on red. If you lose again, put $40 on red. Eventually, you'll win. Let's say your $40 bet comes in. You win $40 and up to that point, you've lost $10 plus another $20 so you're now $10 up overall.

It sounds like a foolproof system because eventually, you're going to win more than you've bet so far. The keyword here is 'eventually'. Let's say there's a run of ten blacks. On the tenth bet, you'll be putting down $5,120 and losing. The next bet you'll need to place is $10,240.

Up to that point, you've already place $10,230 in bets, so unless you came with $20,570 or more in your pocket, you've busted out. Even if your next bet wins, you're only $10 up for all your efforts.

Unless you have an unlimited amount of money, the Martingale system is not foolproof, but a fool's errand.

Don't Believe Gambling Myths

There are a lot of gambling myths out there. It's best to ignore them all.

What is a fact, however, is that you can make good money running a sportsbook. If you're thinking about giving it a try, or are already running your own book, we're here to help. With services including a dedicated call center to handle player wagers and questions, a website for players to wager, and PPH software for tracking and reporting player activities and balances. At www.AcePerHead.com we can help you make a success of your bookie business.

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