There are many facts and fictions that surround gambling and it is not always easy to know what is true and what is just a myth. Gambling is a growing pastime and with the increasing popularity of online and mobile gambling, gambling activities are available to more people around the world than ever before. Here we will look at a few gambling myths and try to understand the facts.
Myth: Gambling is a sure way to make some money.
Fact: In fact, most people lose money when they gamble. Every game in a casino has a house edge which is the advantage that the casino has in that game. This means that there is a greater chance for the casino to win than for you to win. It is possible to win some money, but it is more likely you will lose.
Myth: There are systems and strategies to help you win all gambling games.
Fact: Some games are games of skill and the way that you play will affect the outcome of your game. These games include blackjack, poker and many other games. On the other hand, there are many games that are purely random games and this means that past outcomes will have no bearing on future outcomes. Because of this, it is not possible to work out systems (which need a history of data to create patterns). Games that are random include roulette, slots and keno, among others. Systems and strategies may make you feel better or create methodology, but they will not help you win the game.
Myth: Losing streaks do not last.
Fact: Just because you are having a losing streak now, does not mean you will soon have a winning streak. If you lose money in a losing streak, there is nothing to say that you will win it back if you continue playing. In fact, it is more likely that it will remain lost or you will lose even more.
There are some other interesting facts about gambling that you may be interested in if you enjoy dabbling in the pastime yourself.
- The age range of people who gambled in the 1970′s was between 30 and 55. That figure has spread dramatically and the age range of people who gamble is now between 17 and 70. In addition, around 42 percent of 14 year olds gamble; 49 percent of 15 year olds; 63 percent of 16 year olds and 76 percent of 18 year olds gamble. Now that we’ve looked at kids, what about adults? More than two thirds of all adults gamble each year. It is worthwhile to also point out that households with an income of under $10,000 gambled three times as much on lotteries as those with incomes over $50,000.
- Online gambling has been a growing industry since the early 1990′s. Now, mobile gambling is on the rise and is beginning to account for large percentages of all bets placed. Mobile gambling makes betting available on the go, wherever you are.