Hot and cold machines: there's no such thing
Have you ever heard someone say one of the following (or maybe thought one of them yourself)?:
"That dealer was hot - we had no chance against him."
"I couldn't lose, and then my machine went cold - I should have quit right then."
The idea that machines and dealers - or even certain locations - are hot or cold is a myth. Looking back, we can sometimes see patterns (remember 20/20 hindsight) where we were winning (or losing) a lot. That's just the unpredictability of gambling. Slot machines and VLTs are not programmed to have winning or losing cycles - every spin or deal gives a player the same chance of winning (see random number generators in slots and VLTs for more information).
Gambling will always involve wins and losses, and sometimes you may get lots of one and not many of the other. It doesn't mean a machine or dealer is hot or cold - it's just the randomness of the games. Of course in the long term, the losses will always outnumber the wins. If you do happen to experience a number of wins, great! If you experience a number of losses, just make sure you don't exceed your pre-set spending limit and you'll be fine.
About gambling - afm.mb.ca
- How gambling really works
- What's your cost of play
- Psychology of gambling
- Optimism in gambling: good or bad
- Systems in gambling: trying to make sense of randomness
- 20/20 hindsight in gambling: useful or misleading
- Near miss beliefs: close doesn't count
- Hot and cold machines: there's no such thing
- Selective attention and selective recall
- Unpredictable payoffs
- Don't get caught chasing
- Illusion of control
- Magical thinking
- Superstitions and rituals
- The appeal of gambling: what gambling means to different people
- Gambling and keeping It real
- Responsible gambling tips
- Problem gambling