Tag Archive: illusion of control

When the first stone age man threw a handful of dinosaur bones onto the ground as dice, we have all been somewhat addicted to the idea of gambling. Whether for money or just to prove we understand the future better, everyone loves to take a flutter once in a while. There are many deep-seated psychological reasons behind this, with many being related to the same emotional rushes we get from drugs and sex. However, knowing why we gamble isn't going to necessarily affect those who love gambling.

In some ways, it's only natural that casino players are looking for every tiny edge to give them a winning chance. The desire to win, with its powerful dopamine rush, means that gamblers are more likely to jump to some pretty crazy ideas to justify as to why they're either winning or losing. Many of these faux ideas fall under the heading of the Monet Carlo fallacy or the gambler's fallacy. These illogical ways of thinking can prove to be dangerous and lead to catastrophic losses.