Gain Insight Into The Most Important Factors of Human Psychology To Become A Better Player
In this article we will discover the following:
- Why psychology matters
- Introduction to Mental Biases
- The Power of Wins & Losses
Online casinos can be a great option of entertainment and even possibly some extra money in your bank account. Of course, this is not without risking what money you already have. Most people do not think about psychology when thinking of online casinos but it is a huge component to the entire experience.
Psychology can help you get a better understanding of your brain and the different factors that influence you. Let’s have a look at what psychology is about and how it can help you get a better experience at online casinos.
Psychology Basics
Psychology is a scientific study that is concerned with behavior and the mental experience of individuals and groups. Psychology is a relatively new field of study when compared to other scientific fields and has started as an official field of study in the early 1800s.
Although, of course, people have been interested in how other people behave since… well since there were people. When you look at history and all the great names, we have always had something to say about ourselves.
On the contrary to what many people still think, psychology is not only concerned about people with severe mental disorders. Clinical psychology which is concerned with the “illnesses” of the mind has been the most traditional form of study but more fields have come into existence.
Yes, even the mental side of online casinos has been studied now. With more information and studies about regular society, there is much information that we can use to our advantage when playing in online casinos.
Cognitive Biases
Cognitive psychology studies the process of thinking, attention, language, problem-solving, memory, and other mental processes. The brain is a very powerful computer and is to this day still unmatched in its complexity even when compared to supercomputers.
The issue with our own personal supercomputer is that there are some “flaws” in the programming. When looking from a viewpoint of survival and evolution there was a use for this but, in the modern-day, these tendencies can sometimes be outdated. A cognitive bias is a tendency or default mode in which our brains analyze the world. Let’s have a look at the most important ones when playing at online casinos.
The Gambler’s fallacy
To be honest, this is not a true bias but a combination of some biases that together make up a belief. The gambler’s fallacy is the idea that previous results have an influence on a statistically random event. The most common example is the roll of a dice or a coin flip.
The dice or the coin does not have any memory of what side it landed on and the previous results do not have an influence on the next flip or roll. The gambler’s fallacy exists because we as humans have the tendency to look for patterns and to put events into a narrative.
A very common example of the gambler’s fallacy is in roulette or craps. Many people look for long streaks of a specific color or the absence of a certain number, or betting option.
While of course, some outcome combinations are less likely to happen this still does not influence the outcome of the next number. Flipping heads 20 times in a row does not happen often but this does not guarantee that the next flip will be heads or tails.
Confirmation bias
The confirmation bias is the tendency for people to look for information that confirms what they believe. This, in itself, is not a bad thing of course because it is important to have proof for something that you believe.
The problem comes when people let this tendency go out of balance. Looking for things that are confirming your belief can mean that you either ignore information that contradicts your belief or that you simply miss information because you are looking for proof.
When playing at the online casino this can influence you in different ways. A very common issue is that you start looking for wins even when you are on a losing streak.
Every win that you have will be a confirmation that you are winning while a loss simply explained away as bad luck. When you take in the overall picture you might see that you are losing but the confirmation bias lets you look only at the positive.
Loss aversion
One of the effects of evolution is that we are wired to take negatives to heart stronger than when we experience something equal but positive. When you look at emotions then almost everyone feels a lot worse when they lose 5 pounds when you compare it to winning or gaining 5 pounds. The negative event will “sting” a lot more emotionally.
As such, when you lose a certain amount and then win it back you will feel worse than before you started playing. This can influence you to keep playing even more because we have the need to “feel better”.
If you would leave immediately after winning and losing the same amount of money (for example first lose then win 500 pounds) your bank account would be the same but emotionally you will be in a deficit because the loss leaves a bigger mark.
Taking Advantage in Online Casinos
Now that you are aware of some basic mental biases you can start looking for them when playing at online casinos. Especially when you are on a losing streak it is useful to be aware of the “tricks” that your brain can play with you.
Also you can simply become a smarter bettor by sticking to your rules and not walking away from a strategy when things get tough. The most important thing to remember is that knowledge does not make you immune to the effects.
We are all still human and the mind will keep trying to play tricks as long as you are alive. You can however use this knowledge to keep things more fun and profitable!
Online Blackjack FAQ
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What is the most profitable blackjack strategy?
That is difficult to say. Several strategies are possible that can be profitable for each person. Always consider how long you want to play and how much you are willing to put in, based on this you can develop an appropriate strategy. There is a basic blackjack strategy that you can use to minimize the house edge and create the most opportunities for yourself. We will discuss this in detail in the above article. -
Is there a specific online casino bonus especially for blackjack?
There are a lot of different online casino bonuses and promotions available for blackjack, check our bonus page to be sure. -
Can I Play Blackjack with a Live Dealer?
Blackjack was one of the games that was launched immediately following the introduction of live dealers. As it is a wildly popular game in land-based casinos, online casinos quickly jumped on the opportunity to feature the game in their live dealer section. It has been a big hit with all online casino players! More types of blackjack are still being introduced, raising the excitement even more.
