Debunking Common Gambling Myths
Debunking Common Gambling Myths - Gamble Online Responsibly
As the great poet Poe once penned: “Believe nothing you hear and only one half that you see,” and none could be truer when discussing online gambling. In simple terms, don’t believe the hype.
As the world comes to grips with rapidly changing technology, you must always remain vigilant when gambling online at Stake.com and keep on top of the difference between truth and fiction.
In this article, we look at the most common myths about gambling, particularly online gambling, and offer tips on what you can do to ensure gambling remains safe, fun and entertaining.
At Stake Casino and Sportsbook, we want you to enjoy your online betting experience with us; keep reading to uncover the truth behind common sports betting and casino myths.
What Are The Most Common Gambling Myths?
Gambling can evoke superstitious behaviour in some and scepticism in others. Whether it’s wearing your lucky pants or utilising sports betting strategies, we outline several common misconceptions below:
Hot Streaks and Cold Streaks
One of the most common myths about gambling is the concept that you are experiencing a hot or cold streak and that previous game outcomes can help you determine future results. There’s no such thing as a winning streak; most casino games are games of chance based on completely random computer-generated (RNG) outcomes that do not influence the next game.
I’m Due a Win
Another misconception is that a win is just around the corner if you come close to winning. Almost winning a jackpot machines or hand of blackjack does not mean you’re getting close to winning. The results of the games can in no way influence future outcomes.
New Players Receive Better Odds
This is completely false. Online casinos use Random Number Generators (RNGs) that are regularly audited and certified to ensure truly random outcomes.
"Beginners Luck" is a psychological phenomenon where early wins feel more memorable than losses. Additionally, confirmation bias makes people remember the times this seemed true while forgetting countless instances when it didn't happen.
Clicking Different Links Affect Your Odds
RNG systems cannot and do not adjust based on whether you're a new player, how you accessed the site or any external factors.
The house edge remains constant in online casinos and are mathematically built into the games, so there's no need or incentive to manipulate individual sessions when the odds already favour the house over time.
This myth can be particularly dangerous because it encourages people to chase losses by creating new accounts or clicking affiliate links, expecting better results that simply won't come.
I Can Change My Luck
This is where your lucky pants are shut down. While many of us like to believe in superstitious charms, unfortunately, there are no strategies or special rituals capable of influencing your luck. These ideas can be comforting, but online casino games are based on provably fair mathematical algorithms that outside influences cannot impact.
I Can Win Back My Losses
This common gambling myth follows the theory that if you have experienced losses, you will recoup your losses if you increase your wager and continue to bet. This is not the case and can, in fact, lead to higher losses that add to the problem.
Skill Beats Luck in All Games
Some gamblers believe that they have the skills to overcome luck, and while there are games like poker and blackjack that involve some skills, there is still the luck of the draw that no amount of skill can influence.
Gambling Addiction Does Not Affect Me
There is no such thing as being immune to gambling addiction; it can affect individuals from all backgrounds, countries, and beliefs, regardless of their position or strength in other situations. Do not falsely believe that it cannot happen to you, and always exercise safer gambling practices. Find our third party help services and more on our Stake Smart guidelines.
Are Land-Based Casinos Safer than Online Casinos?
It is also true that many can be sceptical of online gambling platforms compared to their land-based counterparts, perhaps out of a mistrust of the technology. Here are some of the most common myths about online casinos versus land-based casinos:
You lack social interaction with online casinos. This is not true, as you can enjoy a very social and immersive online experience through live dealer table games or gameshows where you can interact in real-time with the dealer and your peers through the game’s live chat functionality. You can interact with our Stake Chat, join our online Community Forum andTelegram Channel and compete directly with fellow players in our competitions. You can learn how to sign up to the Stake Forum with our guide.
Online casinos are rigged. Again, this is a myth. Online casinos must go through rigorous processes to pass licensing regulations, and software providers must undergo independent testing to check the game’s RNG algorithms are authentic and ensure fair play.
Online casinos are not as safe as land-based casinos. Reputable online platforms are as safe as land-based casinos and implement methods to protect you and your data. At Stake Casino, we use SSL security on our website to protect your data. Also, as we offer gameplay in crypto, you don’t have to enter your banking information online, which provides you with added peace of mind. Read our blog to find out more about the types of crypto offered at Stake and how we work to ensure crypto security.
Tips For Playing Safe Online
When you’re ready to start gambling online at Stake Casino, before you start spinning those slots or picking your spot at Stakes many table games, it’s important to keep yourself safe and in control while gambling online.
The best way to enjoy yourself and get the most out of your online casino experience is to keep safer gambling practices at the forefront. Do your research before playing, and gather as much information as possible about the games you intend to play. We’ve outlined some key points on responsible gambling in our safer gambling guide.
Follow our tips will assist you in making informed decisions about your gambling activity:
To make better gambling decisions, it's important to be prepared. This includes reading the rules of the game, our variety of casino how-to guides, slot machine pay tables, and sportsbook odds. Be sure to understand the return to player percentage which you can find out more about in our house edge guide.
Carefully review the terms and conditions of any promos you plan to use. We offer a variety of promotions at Stake.com, that are ideal for new and existing players.
It’s important to never bet beyond your means. We recommend you set yourself a budget or limit before you start gambling and stick to it. This will help you avoid spending more than you intended or more than you can afford to lose. Use our handy budget calculator tool to get started.
Keep track of how long you spend online. Modern games like our adventure-themed slots or live dealer games can be so immersive and captivating that it can be easy to lose track of time. We recommend you take regular breaks so you don’t become too immersed in the games and make impulsive decisions. Set a timer to remind yourself when to stop, and read our gambling limits forum for additional information.
Don’t chase your losses. If you get through your gambling budget too quickly, don’t try to win it back by placing more bets. Stick to your limits.
Remember, online casino gambling is supposed to be a form of entertainment and a fun activity, not a way of earning an income. If you are struggling, seek help and make use of ourself-exclusion tool if you are worried about losing control of your gambling and wish to take a longer break. We’ve outlined the steps you can take to step away in our self-exclusion policy.
Responsible Gambling Help & Resources
Always remember to follow our Stake Smart guidelines to stay in control and gamble responsibly. You can use our betting limits and budgeting guide and our budgeting calculator to help set appropriate limits when playing online.
Please visit Gamblers Anonymous for independent assistance.
