Gambling & Betting

Gambling is as old as mankind itself, with the earliest finds of six-sided dice carved of bone and ivory dating back to around 3,000 BC. In principle, games of chance are games whose outcome is determined essentially by chance. This interest in chance can be traced back to the earliest days of human history. Since antiquity, man has been producing dice in cube or tetrahedron forms – i.e. the so-called ideal forms in which all sides have the same probability of being thrown.

The birth of modern stochastic, the systematic calculating with probabilities, dates back to an exchange of letters between the French mathematicians Pierre de Fermat and Blaise Pascal in the year 1654. Since that date, several branches of science have studied the topic and developed different theories.

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The five biggest misconceptions in gambling

  1. "I always bet on the same numbers."
    The assumption that persistence will pay and that if you always choose the same numbers you will eventually win is incorrect. It is also incorrect that the probabilities of numbers that have been drawn less frequently coming up are higher than those that been drawn more frequently. With these misconceptions, players are essentially ignoring the fact that every draw or every round in a game is independent of those that went before and those that will follow.

  2. "I’m betting on my lucky numbers."
    Some gamblers consider numbers to which they have a personal relationship (date of birth, house number, etc.) to be lucky numbers. This is a popular misconception. In games of chance, the outcome is always determined by just that – chance.

  3. "I’ve won with these numbers before."
    The fact that a player has already won with a particular number or combination of numbers in the past is of no consequence for any future bets. The chances of winning in a game of chance are independent of previous wins.

  4. "I only just missed."
    The “just missed phenomenon” conveys the false impression that a person had been very close to winning when, for example, the Roulette ball landed on the number next to the one he/she had bet on.

  5. "I can influence the game."
    Some gamblers follow particular rituals, which they think have a positive influence on the odds. This is also a misconception. The outcome of a game of chance cannot be influenced by the players.