How to Get on a Winning Streak: Definition | Statistics | Gamblers Fallacy
Although there is no given formula for how to get on a winning streak, there are some useful tips. A winning streak is every gamblers dreams. A losing streak is all their nightmares hitting with a low-blow. There’s much speculation of course about runs of good luck. Many may point towards Lady Luck and say, that’s just the way the cookie crumbles. Others may turn to science and human behavior. We bring you this descriptive winning streak guide to inform you on how to achieve on and maintain it.
What is a Winning Streak?
The term ‘winning streak’ itself has been passed around for a good 70 years. Perhaps our UK readers might reminisce to that ‘Only Fools and Horses’ episode when Del Boy challenged Boycie’s non-stop winning feat.
So, what is it really?
A winning streak counts as at least two successive triumphs. Within the gambling realm, that can be bets placed at the horses, jackpot games, coin tosses, jackpot slots, or even just winning two games of rock, paper, scissors. Winning streaks are all around us. The main aim is how we manage them.
Massive Winning Streaks: Myth or Fact?
There’s been quite a bit of debate as to whether or not a winning streak is a real thing. Obviously, going on a hot run of luck is not just a fairy tale. They actually exist! In 1916, the New York Giants went on a similar sort of venture, winning 26 games in a row in the MLB.
Although, a winning streak in gambling terms is quite different, as there’s room for losing what we all value the most. Money – the thing that makes the world go around.
Winning Streaks in Gambling
When it comes down to it, winning a couple of rock, paper, scissors games in a row is considered as a lucky streak. But in comparison, a gambling winning streak tops all else.
For our readers, we’d like to put the thought into your mind. Perhaps you’ve taken on a few winning streaks in your time. If so, following the first success, you’ve found more cash raking in. Correct? That’s not only down to luck, but also your actions.
It’s quite a simple equation. More victories equal more money. After the first, second and even third consecutive wins on the weekend’s sports fixtures, the feeling of ‘everything you touch turns to gold’ starts to play in your mind. Hence, setting off on a winning streak is truly a rewarding road to success.
Do gambling winning streaks exist?
Of course! After this perfect example of a winning streak in gambling, we take a look at the sciences and statistics. Specifically, turning your own fortunes around and how to get on a winning streak.
154 Consecutive Rolls – One of the Greatest Runs of Luck
To illustrate, we thought it would be appropriate to pick a real example for you. Patricia Demauro, a grandmother in Denville, New Jersey was playing in Atlantic City’s Borgata Hotel Casino and Spa back in 2009.
In the space of 4 hours and 18 minutes, Patricia had hit a hot streak of 154 rolls at a craps table. The chances of that feat occurring was one in 1.56 trillion! Moreover, Patricia’s phenomenal accomplishment went down in the Guinness World Book of Records.
What Science says about Winning Streaks
So, what does that prove? Only that winning streaks are real. Once you’ve hit the ground running with a win, you’re more likely to continue a run. But don’t take it for granted, as winning streaks vary from person to person. Particularly, the behavior of the player shown towards their following wagers.
Winning Streak Statistics: Numbers Back up Study
In a study made at the University College London, mathematicians analyzed a total of 565,915 wagers made from 776 players. The research was primarily focused on streaks of 6 bets on horses, football and other sports. Funnily enough, the survey came up with quite a few interesting notes.
Players who had won were more likely to double or triple that success as they searched for safer bets to gamble on. Hence, by seeking out such wagers, punters who had won were far more likely to get on a winning streak.
Similarly, players who had lost were increasingly plausible to lose even more, thus, not even make back their losses.
When breaking it down into terms of percentages, the study came up with some eye-opening figures.
The initial bet for punters stood at a collective 48% chance of winning. Should the first bet pay off, the figures would alter due to a breath of confidence in the players subconscious. Below, we have drawn up a table to illustrate the chances in percentages for a gambler to win the following bets.
2nd – 3rd – 4th – 5th – 6th
Winning Streak: 49% – 57% – 67% – 72% – 75%
Losing Streak: 47% – 45% – 45% – 45% – 45% – 45%
| Company | Contact | Country |
|---|---|---|
| Alfreds Futterkiste | Maria Anders | Germany |
| Centro comercial Moctezuma | Francisco Chang | Mexico |
| Ernst Handel | Roland Mendel | Austria |
| Island Trading | Helen Bennett | UK |
| Laughing Bacchus Winecellars | Yoshi Tannamuri | Canada |
| Magazzini Alimentari Riuniti | Giovanni Rovelli | Italy |
To sum up, gamblers who’ve had three wins on the bounce would go into a fourth bet with a two-thirds chance of winning. Five consecutive wins would see players approach a sixth bet with a three-quarter chance of success.
Are Superstitious Players Wrong about Gambling Streaks?
Many gamblers may look away from such statistics and say it all boils down to Lady Luck. However, the mathematicians would argue that the behavior of players changes when raking up a win.
Winners are more likely to increase their length of a winning streak after have a few consecutive successful wagers. Therefore, one could argue that it’s not best to ‘quit while you’re ahead’.
A losing streak on the other hand would hit a player hard with a heavy blow. Predominantly, because players are desperate to turn their losses around. Thus, placing riskier bets to try and win. Whilst one can argue that it’s best to quite whilst you’re ahead, there is some truth in the statement ‘cut your losses’. You don’t have to resort to rituals and superstitions to keep your streak going.
How to Get on a Winning Streak
When answering how to get on a winning streak, the primary goal is to get that first win. Online gambling sites such as 1xBET will offer both sportsbook games and casino games. A win can potentially grow into greater things, should you wish to back it. In other cases, players will expect losses and therefore quite while they are still in profit. As seen in the statistics, you’re more likely to win after wisely choosing safer bets. In fact, choosing safer bets should be part of your overall jackpot winning strategies.
The subconscious mind breaths fresh-air every time you see a wager pay-off. Rather than getting on a winning streak, it’s significantly as important how you handle one. To keep a winning streak alive, seek wagers which are not that risky.
Above all else, try keeping the winning streak still hot but accept when its time comes. When the winning streak begins to die, after a couple of losses, it’s crucial to accept it. Because, with just a few wagers down the line, you may be the one chasing losses and eventually lose more than what you had before the streak even started. Don’t get caught up in losses. And don’t fall into the trap of looking for reasons or superstitions as to why you lost in the end.
Hot Hand Fallacy vs Gambler’s Fallacy
One of the main principles to understand about a winning run is how you address it. When witnessing a hot bit of form, players must ask themselves, shall I bet with the streak or against it? In other words, believing that the run will continue or that it simply must come to an end. This can be determined as the ‘hot hand fallacy’ and the ‘gambler’s fallacy’.
For instance, let’s think about a roulette table based in one of the top casinos in the Las Vegas Strip. If there’s a player on a hot run of 6 wins on the bounce, you’ve got a choice to make.
Some players may bet with the player – i.e, the hot hand fallacy– as it’s only natural that his wins will continue. Others may use the logic of the gambler’s fallacy. That is to say, bet against the streak as it’s only natural that the next wager will return back to the due course of nature.
Unfortunately, there is no right answer. As a matter of fact, all spins at a roulette table are independent. That means that even though there’s been 6 black’s in a row, the chances of a 7th black are still 50/50.
Spotting a Winning Streak
Last but not least, it’s critical for players to be able to identify a lucky streak in gambling when they see one. So, how would you do it?
There is no clear formula to pinpointing a winning streak. No real jackpot winning strategies. Ultimately, it just depends on how many wins a player has. No player can always get it right, but successful gamblers are able to maintain a winning streak. This may mean going with their intuition and switching their wagers.
Longevity the Key
To this end, it’s worth keeping in mind that the ‘casino always wins’ but sometimes it loses too. Therefore, our answer for how to get on a winning streak boils down to longevity. Players on winning streaks are more likely to win because they want to keep the run alive. We hope that this guide on winning streaks helps you in the near future and that Lady Luck plays her part as well.
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