Hot Hand: Getting the Facts Right
Ever heard that you will get that huge win that will cover all your losses if you continue playing? Well, that is the hot hand fallacy being served to you.
It sounds great to be optimistic; however, these words are false. Sorry, but that’s not how things work, especially when it comes to gambling in online casinos. However, there are so many people trapped in this illusion that we feel its right to set things straight by separating fact from fiction.
Read on as we demystify the myths.
Hot Hand: What is it?
Hot Hand is the belief that there is a connection between consistency and the unfolding of favorable events. In the world of gambling, this may seem like a belief in fate, but it is a misconception that could lead to big losses.
Unlike sports, gambling requires less skill and a lot of luck. Athletes would have to train consistently and persist to push their limits to win the big prize. However, gamers have little or no control over the casino games. This makes it impossible for them to push for favorable outcomes.
You may have been misguided by words of praise to hot shots on the craps table. This might make them seem like masters who can decipher patterns and hit a big win. However, things are not always what they seem.
Hot Hand Psychology
What is the deal behind hot-hand streaks? Hot-hand streaks are easily believable. This is especially in the gambling area where everyone is optimistic about making a big win or hitting the jackpot. It makes it easy for people to ignore the facts and rely on a fallacy.
Unfortunately, the casino industry is exploiting this belief to make more gains. This comes as no surprise as it is human nature to tap into opportunistic situations, no matter how harmful it may be to other parties.
There are a few individuals that are lucky enough to cart away millions at the casino tables with their first play. However, the belief that they make use of several patterns, voodoo, or whatever means is simply a fallacy that gamblers come to know too late.
The hot hand fallacy might have also been popularized by movies that push the belief that persistence can bring profitable returns even in situations of impossible odds.
Hot Hand or Hot Air?
The bitter truth is that there is no scientific data to support the claim of a hot hand in the world of gambling. There have been mathematical studies that have proven the fallacy to be completely wrong.
While it may be a bitter pill to swallow, it is safer to develop a better betting strategy. This is as opposed to putting all your hopes fallacies or superstition to guide you to the gold pot.
You can instead focus on picking the right bitcoin casino, or stick to casino games with the best odds. You can also watch out for casino bonuses that would help you win more with less investment on your part.