The myths that surround online gambling are numerous and have their roots in misconceptions made about the odds and probability of winning.
If you are gambling online and want to make big money, make sure you don’t believe the 4 major gambling myths outlined below, as they will definitely cost you money.
Gambling myth 1 -Over valuing low probability high gain bets
The tendency to overvalue wagers involving a low probability of a big gain and to undervalue wagers involving a relatively high probability of a small gain.
For instance, which is the better bet for you? Playing a slot machine with million dollar payout, or playing blackjack for what appear far smaller rewards
You may have the same money to bet on each, but there is of course a reason why the slot machine has such a big payout compared to blackjack, the odds of success are low!
A player with a sound knowledge of Blackjack bitcoin roulette may not have the opportunity to make so much money, but the chances of success are far greater as the casino edge and odds of winning are far less.
Keep in mind, the reward of the bet always increases with a drop in the odds of it coming up and vice versa.
Gambling myth 2 – Misconceptions about the probability of success