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Gambling Articles Archive - January 2008

 Applying The Law of Statistical Propensity - January 21, 2008

From the moment the first casino opened, there has been an ongoing controversy as to whether table game decisions are affected by previous results. Many players believe that past results do matter. They wait for an even money proposition to win three or four decisions in a row, and then bet on the opposite choice, figuring that it is statistically due. But this kind of thinking is ridiculed by gaming experts, authors, and purists, because it infers that the dice or roulette wheel react to past events. The wheel has no memory, they say of roulette. Therefore, those who believe that past events influence future results are frequently considered to be misguided or naïve. Read Full Article

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