Gambling Philosophy Can Make You A Better Casino Player
Gambling Philosophy At The Casino
We can probably define a personal philosophy as being a theory or attitude that forms guiding principles for our behaviour. You’ll find a strong philosophy may be able to help you make more studied decisions when it comes to gambling. Today at Jackpotfinder.com, let’s take a deeper dive into the gambling philosophy underpinning gambling regulations, along with the role of luck and probability. The idea here is to put you in a better mental place. And thereby increase your jackpot winning chances.
The Models of Gambling Regulation
When you look at the different gambling regulations in force around the world, you can see that they are actually grounded in philosophical reasoning. The author, Professor Peter Collins wrote a book in 2003 called “Gambling and the Public Interest” in which he listed five distinct models of gambling.
Religious Approach
You’ll find that many governments, particularly in the countries of the Middle East and certain pockets of Asia, regard gambling as a sinful pursuit. For example, Islam forbids gambling completely. As far as gambling philosophy goes, this is the most extreme approach.
Paternalistic Approach
Another school of thought is that governments need to save individuals from themselves. Because gambling can be addictive, they outlaw gambling at an individual level. Nevertheless, the same governments may offer such things as the lottery. But at the same time, all casino jackpot games and sports betting will be made illegal. You can find this in both Vietnam and India where there are land-based casinos. However, they are only open to foreigners.
Pragmatic Approach
Now we come to the nations that take a more balanced view of gambling regulations with a more realistic gambling philosophy. They recognise the problems that can come from gambling activities. Yet they also respect the free will of their citizens. Although these countries will permit gambling, it’s nevertheless tightly regulated.
Liberal Approach
Many countries like the UK have a more free-market approach to gambling and the gambling industry as a whole. There’s no religious negativity tied to gambling, and it’s viewed as purely a commercial enterprise. They do impose certain rules such as those to protect underage gamblers and to provide support for those who have problems with gambling. Nevertheless, all gambling activities at casinos like 22Bet Casino, are tolerated and you find gambling to be a widespread activity.
Gambling Philosophy – Luck and Probability
When devising legislation over gambling activities, all regulators concern themselves with both the moral, commercial, and practical aspects. The same goes for individual gamblers. We suggest that you have your own personal gambling philosophy. This will help determine your attitudes toward rationality, probability, morality, and luck. This will also help you make the correct choices. And stop you from falling into irrational betting in the heat of the moment.
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The Gambler’s Fallacy
Without a doubt, one of the most destructive beliefs in gambling is the gambler’s fallacy. Stand at any casino table for more than 5 minutes and you recognise this in players at the roulette, blackjack, and jackpot poker tables. The players believe that if an event occurs more frequently than normal in the past, it’s, therefore, less likely to happen in the future, and vice versa. An example of this would be landing tails 3 times in a row when you flip a coin. The gambler’s fallacy would suggest it’s now time to land on heads.
Unfortunately, this is a huge misconception. Every roll of the dice or flip of a coin is determined solely by luck. It’s nothing to do with karma. Either something happens or it does not happen. What happened previously has no bearing at all on the future. That’s because each flip is individually and statistically independent of the last.
The Retrospective Gambler’s Fallacy
Once again, this is another gambler’s fallacy where the player believes that a rare event is likely to have occurred several times previously. By witnessing something in the present, you infer that it must have happened in the past. A good example of this would be landing the number 9 on the roulette wheel 3 times in a row. You’ll be surprised how many players would infer from this that the number 9 must be a lucky number.
How Gambling Philosophy Can Help You Play Better
Knowledge and understanding of philosophy can help us in our everyday lives. This also applies to gambling activities. Below we’ve listed some of the main branches of philosophy that should help any gambler improve their gambling and jackpot winning strategies.
Stoicism
In Athens, in the third century BC, Zeno of Citium founded stoicism. With stoicism, you need to learn to separate out those events that can be controlled and others outside your control. As such, this branch of philosophy can help you act in a mindful fashion, build resilience, and stay on a virtuous path. Furthermore, you’re able to react with serenity to things outside of your control. Obviously, you can now see how it can help with gambling.
Stoicism will teach you to accept the fact that you have no control over the roll of the dice or how the cards will fall. But you do have control over every hand you play. To that end, you can ignore the things you cannot control. Just dedicate yourself to making the most mathematically correct plays for each hand. With a stoic outlook, you will not be unhappy with the random nature of any gambling game outcome.
Taoism
Taoism is an ancient Chinese philosophy that suggests we should always live in balance with the universe. After your death, they believe that your spirit would combine with the universe and create spiritual immortality. Taoism features four essential parts: patience, simplicity, compassion, and harmony. You can look at Taoism as simply letting go. Going with the flow. You can certainly apply this gambling philosophy to all gambling activities.
When you’re under pressure at the games table, you’ll be able to cut through the clutter in your mind and make rational wagering decisions. You’ll realise the futility of fighting against what is out of your control. By letting go of everything that happened in the past, you’ll understand that each new hand is a new opportunity. The harmony inherent in this philosophy will stop you from playing in a rigid manner and feeling any pressure.
Gambling Philosophy: Hedonism
When we speak of hedonism, many view it as the narrow pursuit of pleasure at the expense of everything else. This is thanks to its modern usage. But the ideas behind hedonistic philosophy are that you should practice things in moderation as a simple means of achieving happiness. For gamblers, a good example is not to take large risks and to play with a moderate bankroll. As a result, you’ll be less stressed and more able to experience a pleasure. In fact, hedonism suggests we should not just enjoy the outcomes. But the whole process of gambling. In other words, the journey, not just the destination. You can often see players who have become obsessed with winning to the point that they no longer enjoy playing the games.
To that end, along with an understanding of gambling philosophy, it’s important to have some winning strategies, as well as the skills to give you a greater chance to win the jackpot online. By practicing and developing your repertoire of skills, you’ll be able to derive both happiness and pleasure at the casino. Now go over to 22Bet Casino and practice until you find a gambling philosophy that will lead you to a more enjoyable time playing, as well as better results.
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