Post
Topic
Board Gambling discussion
Re: The Gambler's Fallacy (The key to unbiased gambling)
by
Aero Blue
on 20/07/2019, 01:10:32 UTC
What makes you say that humans are very bad at gambling?

Throughout our evolution, we as a species have had to make several extremely risky gambles that have paid off, I wouldn't say that we're bad at gambling.

We had to risk crossing the oceans to find new lands, we had to risk overthrowing and electing certain leaders and we've had to wage wars we might not have won.

We're definitely not bad at gambling.

I agree, we are not that bad at gambling, I think the things that make it bad is when the gambler got addicted and don’t know how to control himself at the game and that they forgot about the plan.

I don't really think it's fair to compare slots or dice to "evolutionary gambling", they are just to completely different things. Psychologically we are awful at games of chance, and there are a lot of reasons for this. A lot of it has to do with the fact that we aren't computers, we can't calculate risk and statistical outcomes very easily, and to relate back to evolutionary "gambles": these were fairly simple. There was no 1 in 200 million odds to win the lottery, it was more like 20 men vs 5. I think this is the main reason we fail at gambling, it's very hard for us to understand the mathematics behind it all.