by Dan Sullivan
Gambling has come a long way, with many hallmarks imprinted in its history. The modern scene includes thousands of RNG (random number generator) based genuine money products, such as video slots, blackjacks, roulettes, craps, baccarat and live dealer games delivered online.
However, gambling has its roots in ancient civilizations. From the dice found in 3000bc in Egypt to the infamous Roman gambling streets and Chinese cards in the 10th century, gambling myths are bound to surround the actual workings of gambling and betting. Most myths suggest that gambling products are rigged and offer a way around it to guarantee high winning rates. Other myths are simply far-fetched imaginations. Below is an overview of five popular gambling myths.
This is one of the popular myths spread by marketers promoting casino products and destinations. There's no doubt gambling can result in small and massive payouts or even life-changing fortunes. However, real money games can result in wins or losses and feature an integrated house edge, meaning the casino has to profit. If a game has a 98% RTP (return to player), you stand a chance to win €98 out of every €100 you bet.
The RTP is calculated over thousands of games, so fluctuations accommodate winning and losing streaks. Nonetheless, the fact is you can win or lose money and will most likely lose if you play consistently without precautions and strategies. Gambling isn't an investment that can make you easy money. As such, you should approach it as a game, entertainment, or pastime. You should never spend more time or money than you are willing to chase wins or make money through gambling products.
This is another popular myth suspected to originate from experts trying to sell some solution around a problem that probably doesn't exist. The casino industry is worth billions of dollars and is highly regulated in markets with a legal framework. In the UK, the UK Gambling Commission imposes various restrictions to protect players from all forms of exploitation and unfair treatment. As an example, you can't use your credit card on UK casinos, but many players still prefer this payment option and search for credit card online casinos like on the NonGamStopBets portal. Gambling products are as clear as they can get.
The provider will explain how the game works in most cases and publish the house edge to inform your chances of winning. Independent labs like eCOGRA, TST, iTech Labs, and GLI also audit casino games to ensure fair results. The challenge for players is to stick to reputable gambling websites and casinos with a valid license, fair play certificates, and top-notch security features, such as the latest SSL Certificates. Casino games are real money games of luck/chance that you can explore for fun, and your stand a chance to win money.
Gambling is a pastime and entertainment. As such, it is designed to be exciting and attractive to keep you engaged. If anyone denies the addictive nature of gambling, they simply advocate for the adventure for other reasons. Of course, players can decide how much time, money, and effort they are willing to spend gambling and learning its inner workings.
However, there are cases of problem gambling, where the player cannot quit the activity even when it is causing them more harm than good. Things can go from bad to worse when gambling transitions from entertainment to chasing lost bets and trying to win a fortune. Binge betting, borrowing or stealing money to gamble, and missing work and other appointments, because you were gambling, are all ominous signs. That's why the UKGC has a GamStop self-exclusion program, and the internet is full of game blockers. Most casinos also have internal measures designed for responsible gambling, which emphasizes the addictive nature of the activity.
The mythos about predicting the outcome of a toss of a coin transcends real money gambling. However, everyone is trying to win something back from betting sessions. Many people look at gambling strategies and formulas and immediately try to apply them to guarantee a win.
However, the truth is no one can predict the next result in a game of luck, at least not 100% of the time. First of all, the majority of games in iGaming are using random number generation techniques and many other innovative technologies, so it isn't possible to predict the outcome. Some strategies, such as bankroll management through martingale, can work well to guarantee progressive wins over time if applied the right way. However, there's simply no formula for predicting the next result in a game that uses random number generators. Players should learn the gambling strategies and formulas to understand the logic of how they work and use them to make decisions when placing the next bet. However, playing without insight can result in devastating losses since RNGs product wins and losses randomly.
There's a myth about land-based and live casinos that counting cards are illegal. However, the truth is no casino can prosecute you using any law when you count cards. Most casinos simply don't want players counting cards because it provides extra insights, and a skilful player can increase their odds of winning. If you are found counting cards, the casino will simply remove you from their floor and probably ban you from their outlets.
They may also inform other casinos to bar you. However, there's nothing more they can do, and most operators simply spread the myth that counting cards is illegal to make players think the law is on their side. It is vital to read through the terms of service to determine how seriously the casino is against counting cards. The best advice is to follow the casino terms if you wish to continue gambling on the site. That said, counting cards isn't illegal by any gambling laws.
There are various other gambling myths. As a player, it is vital to learn more about gambling products and approach them to have some fun. Winning is possible, but so is the possibility of addiction.
About Dan Sullivan
Dan Sullivan is a renowned professor and esteemed education writer with a passion for inspiring students and transforming the field of education. With a diverse background in academia and practical teaching experience, he has become a leading figure in educational research and pedagogy.