All gamblers should know...

grind29

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1: Gambler's Fallacy

The gambler's fallacy is incorrectly believing that a certain random event is less likely or more likely to happen based on the outcome of a previous events. Past events do not change the probability that certain events will occur in the future.

For example, it does not matter if you flipped heads 10 times in a row, it does not make it more likely that the next flip will be tails. It is still 50/50.

https://thedecisionlab.com/biases/gamblers-fallacy | https://en.wikipedia.org/wiki/Gambler%27s_fallacy

2: Sunk Cost

This is the sunk cost fallacy is "throwing good money after bad", while refusing to give in to "cutting one's losses".

For example, some people remain in failing relationships because they “have already invested too much to leave.” Or a gambler might continue to chase their losses in a fit of rage-betting, spending more based on what they lost. Don't let yourself believe you are supposed to have what you had before, it is gone. Assess your current situation for what it is and do what's best for you now.

https://thedecisionlab.com/biases/the-sunk-cost-fallacy | https://en.wikipedia.org/wiki/Sunk_cost

3: Hot Hand

Similar to the gambler's fallacy, it is the belief that one's winning streak is likely to continue. Some studies have shown there is some evidence for it but only with skill based tasks, like basketball, not for randomized tasks like casino games.

https://en.wikipedia.org/wiki/Hot_hand
 
Yeah I have heard of this, sunk cost fallacy. Thinking you'd recover but you actually won't if you don't stop right there, right now.

Ita a common belief that keeps you from sinking to the thought that its gonna go green this time. Haha ;But the truth is, you just need to stop to cut loss. Hehe.

I always fall into it btw. Despite knowing this.
 
Yeah I have heard of this, sunk cost fallacy. Thinking you'd recover but you actually won't if you don't stop right there, right now.

Ita a common belief that keeps you from sinking to the thought that its gonna go green this time. Haha ;But the truth is, you just need to stop to cut loss. Hehe.

I always fall into it btw. Despite knowing this.
Tell me about it. 🤣 😅 😫 I let it happen to myself too and I'm muttering to myself about these trying to live by them. Just imagine those who never heard of them even in this internet-age. I hope this post reaches some of them and at least reminds those who already know :)
 
well i got a heavy a loss whenever i try to recover loss on recent patteren . :( so i think we should not go for chase
 
sun cost often happens to me when I use a 50% chance, my mind keep telling me "1 more bet you'll recover all" and betting becomes bigger and bigger until there is no more balance to play lol
 
It's crazy how many people fall victim to these biases when they're trying their luck at the casino. But you know what? It's not just about avoiding these pitfalls, it's also about finding the right online casino to play at!
If you're looking for some sick slots or dope table games, you gotta check out topphcasino.com! They've got all the hottest games and some seriously sweet bonuses too! And the best part? They're legit and fair, so you don't have to worry about any sketchy business. Just pure fun and excitement, baby! So next time you're feeling lucky, give topphcasino.com a shot and see what kind of hot streak you can get on!
 
It's crazy how many people fall victim to these biases when they're trying their luck at the casino. But you know what? It's not just about avoiding these pitfalls, it's also about finding the right online casino to play at!
If you're looking for some sick slots or dope table games, you gotta check out topphcasino.com! They've got all the hottest games and some seriously sweet bonuses too! And the best part? They're legit and fair, so you don't have to worry about any sketchy business. Just pure fun and excitement, baby! So next time you're feeling lucky, give topphcasino.com a shot and see what kind of hot streak you can get on!
only ph currency allowed?
 
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