So what are the gambling myths and gambling facts? A myth is defined as: A popular belief or tradition that has grown up around something or someone. A fact is defined as: A piece of information projected as having objective reality. In the gambling industry there are numerous myths perceived to be facts that range from where the hot slot machines are to tips while playing table games. Here are a few:
Myth – “The loosest machines are placed at the entrances”.
Fact – All machines are pre-programed to hold a certain percentage of monies played over time to ensure a profit. This is known as the house edge, AKA casino advantage. The percentages may vary from 1 to 15% depending on jurisdiction, denomination, or type.
Myth – “The slots seem to be hitting less on the weekends when it’s crowded. That’s when they tighten them up to make more money”.
Fact – First of all it’s against the law to change the hold amount. Second, the only way to “tighten” up a machine s to contact a representative from the manufacturer to come and change the computer chip, and they would also need casino control board approval. This is time consuming and expensive.
Myth – “Slot attendants know where the hot ones are. Grease their palm and they’ll lead you to the right machines”.
Fact – No one knows which ones are about to hit. Some casinos advertise banks of machines with 98 or 99% paybacks but that’s over the long term. If any slot attendant knew which ones were due to hit, their relatives would probably be playing them.
Myth – “I’ve been playing this machine for a long time and losing. When I left, another player took my seat, and he hits a jackpot on the first spin! If I played just one more spin that jackpot would be mine”!
Fact – A computer chip in the machine called the Random Number Generator, generates thousands of combinations every second. Jackpots can happen even when the machine is not in play. It’s not likely that you would have won.
Myth – “The novice player on my right is making all the wrong moves. He just hit a 16 against a weak dealer 5. He busts by drawing a 10, which should have been mine. I would have won with my double down 11”.
Fact – It’s true that a bad player can affect the outcome of other players hands, but they can also make decisions that result in other players winning. it evens itself out over the long term.
Myth – “I just lost 5 hands in a row. I’m due to bitcoin roulette win so I’m going to bet up to recoup my losses”.
Fact – The result of your previous hands has no bearing on the results of future hands. If you keep betting up, your money might disappear sooner.
Myth – “It’s bad luck when a stick man sends the dice to a shooter with a seven showing”.
Fact – Stick persons do not do this intentionally. Sometimes a die will flip on the felt and a seven will show. Sometimes players pre-set the dice to the number they want to hit before tossing. This only holds up the game and aggravates others. Pre-setting the dice does not affect the outcome of the roll.
Myth – “A virgin shooter is good luck”.
Fact – No person or event can cause good or bad luck. First time shooters are often remembered when they win for other players at the table, bu quickly forgotten when they lose.
These are just a few of the gambling myths that have infiltrated the industry over time. Forget the myths and know the facts to maintain a positive and winning attitude. Good Luck!