Time to Bust Common Gambling Myths
Published: August 16, 2021
There are many myths and misconceptions when it comes to gambling.
To promote safer and more responsible gambling behaviors, it’s important to know these popular myths so you can recognize them and incorporate alternative healthy habits into your life.
Four common gambling myths include:
- The more you gamble, the more likely it is that you’ll have a big win. The truth is, the outcome of each game comes down to chance. The amount of time spent gambling does not have an impact on the outcome of the next bet. This is known as the “independence of events.” Each event outcome (e.g., lottery draw, spin of a roulette wheel or play of the slot machine) is independent of those that happen before or after. A longer amount of time gambling will usually just mean more money is spent.
- If you keep playing long enough, you’ll eventually win all your money back. The opposite is actually true — the more you gamble, the more likely it is that you’ll lose more money. The odds are always stacked in favor of those offering the bet. The industry knows that some people will win, but more people will probably lose.
- Knowing a game well increases your chances of winning. Again, it all comes down to chance. Playing games such as poker and sports betting with in-depth knowledge could help the choices made, but outcomes of contests or drawings are still random. You might think you are the best poker player around, but there’s always a chance someone else may have stronger cards. Your football team might have won the last two games, but that doesn’t mean they’ll necessarily win a third. Remember to gamble only what you can afford to lose.
- When gambling, keeping track of previous results can help you determine future outcomes. There is no pattern when it comes to gambling. If there were a pattern, everyone would learn it, and no one would ever lose. Every pull, draw, card or dice throw, contest, and spin is a random chance and can turn out in any way regardless of the previous result.
Aside from knowing these common myths, responsible gambling includes knowing the facts and gauging your risk. You can easily do that in just two minutes with the responsible gambling quiz at BeforeYouBet.org/the-quiz/
Before You Bet also provides access to resources if you think you might have a problem with gambling. You can access help by calling the free, 24/7 helpline at 1-800-589-9966 or by texting 4HOPE to 741741.