【mma bet cassino】5 Common Cognitive Biases Among Gamblers

Cognitive biases can mma bet cassinobe present in all areas of life, and with gamblers, these have been found to be the most common.

Playing at online casinos or wagering on your favourite sports teams is all about the enjoyment it offers. But what happens when you move beyond the joy and step into a mindset trapthat could lead to troubled waters?

We explore the different cognitive biases in relation to online gambling for closer inspection.

What are some of the most common cognitive biases?

When it comes to gambling, we’ve got lucky charms, betting rituals, and firm beliefs in certain outcomes. However, several biases have been noticed that may impact players' decision-making and self-control.

Heuristics and cognitive biases tend to occur when you’re required to reason or decide. Some of these biases are quite common among gamblers, with primary examples being the illusion of control, availability, and fallacy of gamblers.

Are casino games favouring these biases? If you consider that the design structure, characteristics, and way games of chance operate favour these biases, it seems that they are, in fact, supported.

One of the big concerns is that despite the intent of creating an entertaining experience that encourages longer gameplay, these titles may potentially lead to a gambling problemfor many players.

1. Gambler’s fallacy

The first on our list is the gambler’s fallacy, where you have an irrational belief that past events impact future events. You may believe that the next round is guaranteed to provide favourable results due to a favourable outcome for a couple of game rounds in a row. Or because you’ve experienced multiple losses, a win is due.

2. Confirmation bias

This is where you’re looking for information or others who confirm your beliefs, whether they may be correct or incorrect. This bias goes along with a mindset where you simply ignore any evidence that the opposite may be true.

You lean towards outcomes that are favourable and simply ignore the risk indicators, leading to irrational decision-making without all the supported evidence.

3. Optimism bias

Optimism bias can occur in spaces where players have an unrealistic optimism for a certain outcome. This is quite common among sports bettors who are knowledgeable about teams, leagues, as well as lottery players.

4. The clustering illusion

This is familiar among bettors on a hot streakor who have a hot hand. This is basically when a gambler sees a number of non-random events as lucky streaks or clusters. It essentially creates the illusion of orderin something that is completely random.

It gives players the idea that they can predict the outcomeof the next game based on the outcomes of the last couple of games.

5. The illusion of control

Another misconception among bettors is that they have more control over the game outcomesor specific betting situations than they really do.

For instance, with a game like craps, a player may believe that if you use a certain dice-throwing technique, it could lead to better chances of winning or that someone blowing on the dice (because they are a lucky charm) will lead to a win.

You get the idea that you are in control without considering all the other elements and recognising that the outcome is completely random, and despite attempts, the predictions may not be accurate.

These five examples of distorted thinkingare closely linked to the psychology behind gambling addiction. Understanding these better will help you address (and prevent) the compulsive behaviour that sometimes goes hand in hand with gambling and achieve a more mindful playing experience.

Want to know more?

All this is discussed in detail in our BET ON CHANGE documentary film on responsible gambling. Get more information on cognitive biases and the possible impact they have on you as a professional psychologisttalks through the details.

Don't forget that safer gambling equals fun gambling, so just enjoy the gameand be careful!