You've probably never heard of the gambler's fallacy. If not, read on because if you're not familiar with it, you've likely fallen into its trap and it's costing you money. The gambler's fallacy is a condition that besets nearly everyone at various times in their lives. However, as befits the name, it is famously frequent in gamblers and it is, of course, a fallacy.
by PeterWerth


You've probably never heard of the gambler's fallacy. If not, read on because if you're not familiar with it, you've likely fallen into its trap and it's costing you money. The gambler's fallacy is a condition that besets nearly everyone at various times in their lives. However, as befits the name, it is famously frequent in gamblers and it is, of course, a fallacy.

Online poker is a game of skill only to the extent that skillful play would allow gamblers to lose their money slower. Money could temporarily be won in the short-run. In the long-run though, the gambling "house" which operates the gambling website, will permanently win all the money from all of the players.

With a fast played game such as poker, the short-run quickly becomes the long-run when playing enough hands. Each hand played whether winning or losing any particular hand, slowly disintegrates the bankroll of every gambler. There is not anything that gamblers can do to save their bankrolls except to never play online poker.

-- What They Say About Online Poker Gambling

The top poker players in the world do not play poker at gambling websites. Some top poker players may say they do only because of getting paid for endorsements. These top poker players know they can beat the other players, but that they cannot beat the house. There is not anybody on the face of this earth who can make money playing online poker.

The skillful play that the top gamblers in the world are so proud of do not stand a chance against an online poker virtual gambler. This is one of the heated debates on the fallacy of online poker gambling.

Now knowing that money cannot be won playing online poker, here are three more nails in the online poker coffin so that this complete waste of your money, time and life can be buried: 1. How do you know the other online poker players are real? 2. How do you know the cards are a randomly dealt deck? 3. How do you know a gambling website can be trusted with your bank account and credit card information?

There are a good number of dishonest gambling websites out there just waiting to steal money from you. But even if you did happen to find the most honest, forthright, respectable gambling house that exists, it still is a money fleecing business which would be most happy to financially destroy you.

Do not give them the pleasure no matter how nice their website appears to be. Do not give them the pleasure no matter how friendly their promoters seem to be. Do not give them the pleasure for any reason. These gambling houses along with their slick marketing campaigns are very clever at trying to influence you into gambling.

Playing online poker will cost you money and quite possibly a lot of money. You may get addicted to it even if believing that could not happen. It very well can happen. Unfortunately, getting addicted to online poker has happened to many people. But even if never technically getting addicted to online poker, isn't it foolish to play a game in which losing your money is a certainty?

-- The Fallacy Of Online Poker Gambling From Top Players

Most guys understand the basic stats, but not to the point of realizing that the probabilities are for a normal distribution and recent outcomes have almost zero relevance (in this case) on the outcome of any single hand. I like making money of tilting guys who figure they are due!

The players who you don't want to read this article are the same players who never will read it. After all, they already know everything they need to know about poker, why would they spend time reading more?

Interestingly, people I know who have this fallacy have also an other one which is quite the opposite. once a mate watched me playing a online sng. after some time i picked up 85o and he told me:"you gotta play this - didn't you recognize that in the last few hands there were all low cards on the board?" It seems like some guys always find a reason to play a hand.

Even the world champions from the World Series of Poker tournaments can never be skilled enough or good enough to overcome the house cut or rake from every money pot.

-- Conclusion On The Fallacy Of Online Poker Gambling

And the long run is really, really long. Most people, poker players included, have trouble grasping this compelling mathematical truth. As a result, they are likely to increase bet size or make marginal calls because they are convinced they are due. The real problem, of course, isn't the belief; it's acting on it that puts dents in your bankroll.

The gambler's fallacy is a condition that besets nearly everyone at various times in their lives. However, as befits the name, it is famously frequent in gamblers and it is, of course, a fallacy. It was discovered by psychologists and has been a topic of study for decades, and the "ol' perfesser" here is going to give a lecture on it. Get out your notebooks.

Players or gamblers will be easily deceived and be initially laid out in a trap wherein they will win in the short-run but eventually will lose all their money in the long-run.

About the Author:

Peter Werth runs a thriving Poker Blog where he teaches more of his insight into the game. He also has a great deal on Plastic Poker Cards, only the best for the best!