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Gamblers Mistakes

by Jerry "Jet" Whittaker
April 05, 2006

Gambler’s mistake is commonly referred to as the mistakes that gamblers usually make while gambling. The mistakes can be made by the gamblers can be because of some presumed notions or because of over confidence that professional show show, while gambling. Gambler’s mistake is defined as a misunderstanding of the laws of probability by the gambler, to imply that independent the random and unsystematic variables that are even out by active self correction. There are many types of mistake that can be seen by a gambler even the professional players also show some of the mistake because of these mistakes unfortunately has to lose a lot of money. The Gambler's Mistake some times is also called the Monte Carlo mistake.

The common mistakes made by a gambler while gambling:

An example of the gambler’s mistake is that if by tossing a coin if it comes tails five times in a row than the gambler betting can be very much sure that the next time only the head will come but according to law of probability the next time also the probability of coming a head or a tail is equal and that is fifty percent each. The odds of an event happening are always the same no matter how many times that event has taken place in the past. This is a clear case of ignorance of law of probability. Given those events happening over a sufficient amount of period of time then their regularity would average out to 1/2. This is just one of the example of the mistake but there are many other mistakes that the gambler’s produce.

What is the conclusion?

If you have also committed these mistakes, than you don’t have to be bothered about it because these mistakes are made by every type of gambler’s even by the professional gamblers and sometimes these fallacies can also bring fortunes in favor of the gambler. That is the thing which is most exciting about the gambling and attracts people to gambling. If you are a regular gambler or you go to the casino quite regularly than you should bear in mind the mistakes that the gambler usually make. People make these mistakes because they do not want to lose money. But it is been seen that the Gamblers lose lots of money because they make such mistakes.


 

 

 

 

 

 

 

 

 

 

 

 

 

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