Gambling Myths

Some countries are host to burgeoning gaming industries. As more casinos are built and more lotteries established, more people need help overcoming gambling problems. Part of the problem is the persistence of a few gambling myths about statistics and odds. Understanding these myths is one of the best ways to avoid that threshold where gambling stops being fun and becomes a problem.

Gambling Myths

  • Myth: Playing at more than one machine increases the chances of winning.While this is not technically false, it does omit some key information: when you play at more than one machine, you also increase your losses.

  • Myth: You can find machines that are due for a payout. Slot machine payouts are based on random chance. Each play has the same odds of winning as every play before it, so you do not increase your chances of winning by playing on a machine that has not paid out in a long time.

  • Myth: Some casinos have loose slot machines. Many casinos advertise their loose slots. However, this phrase tells you nothing about the machines’ odds or payouts. Some casinos’ machines have higher odds than others, but a casino that advertises its loose slots that have “up to” 95 percent payouts is not telling you the whole truth. Play machines that are advertised as having a specific figure, and never fall for loose slots ads.