The End of Day Betting Effect Explained
A gambler may arrive at the roulette table with a betting system in mind, intending on doing nothing but making a few sound bets, earning a tidy sum, and going home with pockets full of cash. This can and often does happen, assuming the gambler has sound discipline, and the ability to know when to call it quits.
If, however, luck tends to not favour the person, and they dip a little into the red where it was not expected, they may gradually start making more and more risk bets as the day draw on, in an attempt to earn back some of the winnings.
By the end of the day, this same gambler may be taking ridiculous risks on the last spin of the roulette wheel, it what can only be described as a desperate attempt to at least break even. This scenario is referred to as the end-of-the-day betting effect, and it is far more significant then many would care to believe.
End-Of-The-Day Betting Effect
Human beings are creatures of impulse, and tend to act on what they are seeing and feeling in the moment. Gambling, however, is a game that requires strict discipline, if the gambler wishes to make money, as apposed to bleeding it away.
If approached properly gambling can be reliably profitable, as demonstrated by those who make their living from nothing but gambling games. Not acting on impulse, however, is not as easy as it sounds. This is the primary reason for the end-of-the-day betting effect being a very real phenomenon.
In many studies it has been undeniably observed that the last race at every horse-racing event is bet on significantly more, sometimes by as much twenty five per cent. At first puzzling researchers, it was soon discovered that this was due entirely to gamblers attempting to make up for losses.
This, of course, is not a logical response to have to losing, since the last race of the day does certainly not offer more chances of winning. More so, it was found that the increased number of bets was also accompanied by another telling fact; the bets tended to be far more risky in nature.
Gambling Golden Rule
There is a golden rule in gambling whether at a land based, or online casino that should be observed at all times, one which generally avoids the end-of-day betting effect. Loses must never be countered by greater risk. Yes, it is possible that a big risk bet will earn back a loss, at least some of the time. Statistically, however, following up a loss with a big risk bet has only one real long term outcome; more loss.
This, inevitably, will result in spiraling loses that soon have the gambler bankrupt. Loss should, instead, be accepted as part of the gambling process, and be followed by another sound, well thought out bet. It may require patience and waiting for that sound bet to come along, but it is the only logical way to approach a system like gambling.
After all, a person who makes their living predicting the weather wouldn’t try make up for a wrong prediction by making increasingly unlikely weather predictions.
If you’re looking to enjoy a number of high quality Canadian casino bonuses, it’s worth improving your strategy and knowledge of gambling and rules that experts understand when coming to the table.