Thursday, December 9, 2010

Gambler's Fallacy

Gamblers always feel that they know a way to beat the system. This is one of the main reasons why people become addicted because they feel that it is an extremely easy way to become rich. They will play any game because they think that they have gained odds against the house. When people begin to think like this it can become very dangerous. One of my friends fathers had become addicted to roulette because he thought that he could beat the system, he failed numerous times waiting for a color to not come up for awhile and then placing a bet on it. This failed and he lost a great amount of money. He then tried to play the slots and would wait for a machine to not payout for awhile then he would swoop in only to find that it still wasn't paying out. He learned the hard way that the odds dont change and the house will always have the upper hand.

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