Post
Topic
Board Gambling discussion
Re: Illusion of control
by
Hispo
on 01/09/2025, 10:43:28 UTC
...

If you get statistical and logical, you will remove these thoughts and you will not become overconfident or superstitious.

Though, gambling relies much on feelings rather in logical thinking and mathematics, simply because the majority of people who try their luck in gambling do not have the basic knowledge in statistics and mathematics to do some analysis on the chances they actually have to become millionaires in the short and long term. If all gamblers on the planet had that knowledge and were able to use it, then casinos would struggle financially.

Since there is a lack of knowledge, many gamblers rely on superstition and magical thinking (even trying to find non-existing patterns) in order to see if they can make profits from gambling. In that way, it is just matter of time before losses start to pile up.