People can sometimes be superstitious and believe in almost any myth they hear. Most casino myths sound weird to some, but casino players take them seriously enough. It is common to run into someone telling you to believe in your intuition as you place your bet. Here are some of the myths associated with casinos and why they are not true at all.
The loosest slot machines are on the ends of each row to attract more action.
The placement of these games is random. Mathematical surveys and discussions with real slot machine technicians proved this. Even if this myth were true, it would not make much difference. A loose slot machine might have a payback percentage of 95%, while a tight one might have a 90% payback percentage. That is the amount of each bet that the casino expects to keep in the long run. It is the other side of the house edge coin.
Something that happens several times in a row will be more likely to happen again.
This myth is what players call The Gambler’s Fallacy. The idea is that if the result on the roulette wheel were a red eight times in a row, it would land on red on the next spin. Players believe the streak will continue. There are 18 black and 18 red numbers on a roulette wheel, with an extra two green numbers. There are eighteen different ways to get a red result. Also, there are thirty-eight possible results. So, the probability of getting a red result is 18/38, or 47.37%. The previous results do not change that probability formula.
All online casinos are a scam.
It is somehow partially true since some online casinos are scams, but not all. But these casinos do not scam the way you might think they do. Most online casinos have licenses in some foreign country and have proper auditing. There is nothing to worry about the randomness of the results of most online casinos. The trouble often lies in withdrawing your money from the casino. The casinos resort to delaying tactics. They know that the longer you leave your money in your account, the more likely you are to lose it all. They ask for proof of identification and claim they did not receive it. You re-send it, but they claim they could not read it, so you have to send it again.
There are many kinds of myths and misconceptions about casinos; may it be online or offline. You should ignore misinformation and make rational decisions based on facts. Never let casino myths fool you.
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