Gambler’s Fallacy Sensitivity Experiment In Casinos

I conducted a 1997 study of the susceptibility of Fischbein and Schnarch to gambler’s fallacy. The study surveyed five groups of 5th, 7th, 9th, 11th, and college students specializing in teaching math.

Then, for subjects of each age, “I performed a coin toss three times and the table appeared three times. If I performed another coin toss, what is the possibility that the table will appear even the fourth time?” I asked the question. As a result, 35% of 5th graders, 35% of 7th graders, 20% of 9th graders, and 10% of 11th graders answered that “it is smaller than the possibility of getting out of the way”. The result was that no one answered.

It was concluded that a person’s susceptibility to gambler’s fallacy decreases with age because of the different effects of gambler’s fallacy on age.

Even if you have some prior knowledge of gambler’s fallacy, you will be unknowingly affected. Therefore, it is said that there is no way to overcome the gambler’s fallacy. However, as you get older, you become less sensitive, and the older you get, the more you can overcome the gambler’s fallacy.

Watch out for gambler’s fallacy

Gambler’s fallacy unknowingly acts on us in the brain, so even if we understand it, we cannot control it. As a result, it can be affected by gambling and can lead to unfavorable results.

However, poker requires not only intuition but also analytical and observing skills, so it is relatively unaffected by gambler’s fallacy. When playing casino games from now on, it’s a good idea to keep in mind the existence of gambler’s fallacy and be careful not to make biased decisions.

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