Have you ever played a game at the gambling house before? How many times have you played? And how many times have you won?
Why do I always pick the wrong answer when I am guessing, a group of students also asked. They have lamented individually that when they guess from two competing answers, they have a higher chance of picking the wrong answers. But why is it so?
One day, I decided to complete a mock quiz I didn't prepare for. The questions were strange-looking and the only thing I had was some residual knowledge about the questions and my guessing instincts. In the end, I was already feeling good that I had done pretty well until I scored myself. It was a whooping 'F'. So I began wondering, why does guessing to questions almost always have a high probability of failure?
If you have attempted gambling, the error margin is equally as high as when you are guessing to those random quizzes. Even when you think you are sure about your choice, it almost always turns out the unexpected outcome. But as well as quizzes requiring selecting from a pool of multiple-choice questions, without thorough knowledge about the decision options available, or some high proof of certainty, the brain will always skew things up at some point. Why? Because you are relying on the power of guessing.
Here in this post, we will explore why gambling almost always goes wrong.
Are Some People Good At Guessing?
People bet on different things including sports like football, tennis, etc, weather, or certain other facts, and in most of these, they rely on their guessing power. Often, you hear people say they are really good at guessing this stuff. They have figured a way to win those bets and in turn, some huge cash prizes. But when you try, it always ends up at a loss. You ask, how do they do it?
Yes, some people are good at guessing. And this strong power of guessing may be related to their previous knowledge about the object at stake. They understand the patterns, trends and recent changes, say, in the football game, they are getting for. They know what has changed in the strengths of the teams that are playing the match, for example, the injured players, the new coach, and so on. This knowledge could prove handy and very instrumental. The same goes for other things you are guessing for, like that quiz you didn't prepare for. You rely on some base, one information you already have about the subject. However, great guessers only understand one thing. They understand how to study patterns and match them to the new challenge.
The main problem here is that, whereas knowledge of facts is important for guessing, it can sometimes make the guessing process harder and slower, with greatly reduced chances of getting the correct answer, such that, because you know too much, you think too much and then, you confuse yourself with all the contrasting pieces of information.
But in all, being a good guesser means you have learned to follow the patterns and create a balance between luck and knowledge. Gambling is oftentimes a combination of luck and knowledge. The knowledge, like I have already mentioned, can be very instrumental but it is still a game of chance.
When gambling, do you really think the host wants you to win and take home all the cash? Never. They are also in for the business too. Your win is their loss and vice-versa. So, why should they let you win so easily? Even before you try gambling for the first time, most casinos already have things in place to lure you into the trap of attempting. These includes the classy entrances, well-lit rooms and show of affluence that makes you feel pompous about yourself. The atmosphere is configured to show class and sophistication and to crown it up, free drink and food offers may be served. Now, you are primedwell-enough to try.
This may not be the case for online bet platforms, as you cannot be offered free drinks over the internet, but they offer great bonuses, and keep you hooked with enticing games. When you win the first dime, you hop in for the next millions. And when you lose the first time, you hope to try to break even in subsequent ones. Do you see a chain here?
According to a post on 888casino.com, the first rule of gambling on a house game is that the casino has always won, and the players (collectively) have always lost. Players rely on hitting a lucky run, and as long as they have the humility to walk away they could end up on top. You will soon understand what I mean by the humility to walk away as I go on.
The betting house makes the uncertain odds already in their favor and increase the stake and the prize. But the players are enticed by the prize and then want to try their luck. But it doesn't end there. The casino house puts things in place that will entice you, playing on your naturally tendency for greed and hopefulness that you would soon break even. This goes on and on, and you keep losing more than you actually win.
888casino.com categorized losses in gambling into 3 categories and I believe understanding this levels of losses will enhance our understanding of why gambling always go wrong. What are these levels of losses?
Levels of Losses
Losing what you can afford to lose
Losing more than what you are happy with
Developing the mindset of gambling
Why You Always Lose When Gambling
- Lack of understanding of the game
- Second-guessing on yourself
- Thinking too much
- Letting emotions get in the way
Lack of Understanding of the Game
Second-Guessing on Yourself
Skewed Decision-making Process
Letting Emotions Get in the Way
How To Win The Gamble
To win your bet, you must understand the original intent of gambling, the plan of the betting house and host. Just a recap, the betting house already makes you the loser and they, the winner. To win the gamble, you must pull off like a cloak, the desire to win and place your winning somewhere outside the games you play. In other words, you should not expect to win. But not expecting to win generally have two consequences;
- It is either you play the game just for the fun.
- Or you just walk away without expecting to win.