Debunking the Most Common Gambling Myths That Exist Today

Gambling is an ancient thing. There’s evidence that humans have gambled for thousands of years. It’s an archetypal staple in stories, art, and other forms of media that pervade popular culture. 

Through those stories, we get a lot of ideas that may or may not be true. Gambling myths are just as common as gambling itself, and it’s important that you know what you’re dealing with when it comes to these false ideas. 

If you’re not careful, you could fall prey to the gambling industry and lose a lot of cash. Not to mention, you might wind up with an addiction to the feeling of betting. 

We’re going to look at some of the myths surrounding gambling today, giving you some insight into ways that you can enjoy gambling without holding any unrealistic expectations. 

Let’s get started. 

  1. “Harmless Gambling Holds No Risks”

Say that you’re out with friends or family and everyone wants to go to the casino. You’ve got forty dollars burning a hole in your pocket, and you’re excited to see what gambling is like. 

The culture of the people you’re with is one that encourages some harmless gambling and doesn’t really warn of the risks involved. There are two primary risks involved with this kind of “harmless” gambling. 

First, your personality and your biology might respond adversely to the idea of gambling as well as the casino environment. Casinos are on the razors-edge of addictive and compulsive technology. All machines in the casino are created to be as addictive as possible. 

The fundamental idea of gambling is addictive to some personalities, but the casino environment doubles down on that fact by stimulating every sense area. Most casinos have no windows so you can’t tell what time it is. They also keep the rooms chilly to increase your alertness. 

If all of those factors hit you the right way, you might fall prey to the second risk which is that it’s always possible to take out more money. The whole room screams at you to withdraw a few more dollars from your account, so much so that you might forget that you need that money to pay rent. 

  1. “Gambling Is Wrong And Bad”

On the flip side of things, there’s an idea that gambling is inherently wrong. Depending on your set of beliefs, that idea is up for interpretation. 

At the same time, there’s nothing particularly bad or inherently evil about gambling. It’s something that you can have a lot of fun doing, which is why so many people seek out casinos and gambling vacations every year. 

If you know how much money you can spend and you hold yourself to that limit, you will have a fantastic time. You might even leave the place with a lot more money than you came in with. That said, there’s a fine line involved in that situation.

You have to know when to stop and make sure that you’re aware of the factors that keep you playing. The “sunk cost fallacy” is one of the most common gambler’s flaws of all time. 

It’s the process of dumping “good” money in after you lose “bad” money. Let’s say that you set a $500 limit for yourself. You’ve hit that mark in a short amount of time, and you’re baffled that you allowed yourself to blow through that much money. 

You’re in a hole, though. Your brain reasons that you’ve already lost $500, so it makes sense to try to win back some or all of the money that you lost. There’s a perpetual idea that, for whatever reason, the odds will change. 

They won’t. It’s just time to swallow the bitter medicine, cut your losses, and move along. You’ll get ’em next time, champ. 

  1. “I’ve Got A System”

Wherever you go to gamble, without fail, you’ll meet someone who says they have a “system.” That person might even be you. 

It’s true that some games allow for complex mathematical systems to count cards and improve odds. Those systems are illegal, difficult to learn, and incredibly hard to apply in person. 

If you’re a genius and you have that gift for numbers, this section doesn’t apply to you. For the rest of us, we just have to wait for the next lifetime to come around to get those gifts. 

You don’t have a system for winning at slot machines or beating dealers in blackjack. We’re sorry to break it to you, but look at your account statements and see how much money you’ve lost versus the amount you’ve won while gambling. 

The house always wins. We repeat, the house always wins. That’s why casinos are some of the most lavish and luxurious environments in the western world. they make money 99.99% of the time, so much so that they encourage people to win big so that others think they might, too. 

Actionable Methods To Use

Your system might not work, but there are methods you can use to tailor your approach to gambling. These are attitudes that limit the amount of money you lose and retain as much of the winnings as possible. 

For example, you should have a hard limit whenever you go to the casino. Whether you’re at Ceasar’s Palace or on one of the best online gambling sites, make sure that you’re spending money you can afford to lose.

When you have the compulsion to dip into your savings or spend money you were going to use elsewhere, stop. When you lose that ability to stop, it’s time to get some help. 

Further, it’s good to have methods for playing when you’re winning. It might be a good idea to stop playing if you win the amount you were planning to spend. You can make your own rules, of course, but it’s just a good idea to have them in the first place. 

That way, you can enjoy yourself and see the money you lose as the cost of entertainment for the night. 

Want To Learn More About Gambling Myths?

Hopefully, our look at gambling myths was useful to you. There’s a lot more to learn before entering a gambling establishment, though. We’re here to help you get a good read on the gambling industry. 

Explore our site for more ideas on finding the best online casino, choosing the best online slots, keeping your gambling wits about you, and much more.