Marc this is your best video ever! Not only is all this information very important but you did an amazing job of laying it out clearly and your passion for helping people really shined! I’d highly encourage everyone to share this video as we will absolutely be sharing and referring people to this video.
First time in the casino, circa 1983, with my older girlfriend (I was 18) down to the last handful of quarters. I put it all into the machine and jokingly told it to help me. Hit jackpot. (I don't remember the amount, but several buckets of quarters came out (good old days). Loved casinos ever since. I am not addicted, though; I only go once in a while.
This is great info. In 2018 I got so lucky with a $16,000 jackpot on keno, I went exactly a week later and hit $16,000 again. Super crazy!! Been gambling for 14 years now & thankfully I know it’s all luck.
I have been an avid listener Of both cowboy slots and gambling smart. I think this was one of the best videos, you guys put out. Anyone that drops a dime on gambling, should listen to this. It puts everything into perspective. You guys are great.
I am one of the few who lost my first time at a casino and still go to this day, but I really wasn't there thinking I would win. I was there to have some fun with my dad for a couple of hours and it was a lot of fun. I am a cheap butt, so I truly only go with what I can afford to lose and I don't chase. I find myself watching others more then I play because it is fascinating to me to talk to other players and see some of the things they do while they play.
This was an amazing video because at is exactly what happened to me!!! It almost cost me my relationship with my wife because I have lost so much money at Choctaw thinking I could replicate my winnings back in 2018.. and ever since then I’ve lost all my money.. I’ve fallen victim sadly.. it’s cost me so much, heartache.. I’m grateful for y’all’s videos!! So Ty from the bottom of my heart!
Don't beat yourself up too much - a lot of us have gone through similar (including myself). Knowing what's going on and putting it in front of you will help make you a better person (and gambler) in the future. :)
My gf's parents are terrible with all of these. I've tried to educate them and get them to do some research but they refuse to believe me. I am def guilty of the one where I expect to win on a game I won on previously. Love this vid.
This is a great video!First time going gambling in Vegas, I was 21. I brought $500,00 for 5 days!I think I won $500 on a quarter machine.My Dad And I would go. Ir was so much fun. One thing I did and you mentioned it was to go back to a machine I had played previously and won $4000.00. I would sit for hours on that machine.Finally, I decided not to put my eggs in one basket.That is when things turned around for the better.
I do win most of my jackpots earlier in the day! 😅BUT I go to the casino early in the morning because it’s less crowded. Thank you for your great tips. I really enjoy your videos.
Great video Marc! Your honest and clear explanation regarding these mental mind tricks is so helpful and educational. Definitely have fallen for all of these biases at one time or another. Thank you for sharing this with us!!
This video confirms the feelings I get when falling upon videos of gamblers who have $10000 to gamble with no hesitation on highly volatile games for the pure entertainment, making it look easy but in reality it took thousands to break even or make some profit. It is so deceiving and probably doing it for the views. Not sure.
Before I started watching your videos and subscribing to the channel I experienced, and even fell victim to many of the biases you discuss in this video. Today, with your super advice, I believe I am a much smarter player. I am definitely not perfect but find that I now can sometimes catch myself if I think I am slipping into a bias. Thank you for all that you have done to educate me and the thousands of us that follow you!
@@DrSchor By watching your budget, setting daily and session limits, no atm card, only play with money you can burn (ie all bills paid and it’s pure entertainment) when you out of budget you done. We teach ways to improve and sometimes that means stopping all together.
I agree but yes the odds are against you and if all you do is loose has no bearing on future events. So every time you spin the wheel you could win. Each machine is programmed to pay out. And you may win in the future but it may take thousand of dollars to win. Long. After todays spin. If you know this and only spend what you can afford, it’s not bias it’s just gambling. You are more likely to loose so always remember that.
Marc, u always talk abt such interesting topics that I can relate to. I was 15 when I fell into the thrill of the win. Can remember everything abt it as if it were yesterday. Was on vacation with my very large family up in Buffalo NY. There was no age law there to play. It was Bingo. I had 1 card and hit a bingo for $20. Will never forget the thrill of the win. Yes my family were gamblers and I fell right into that. I can remember, way back in time, when we wld say, "great it's crowded and the machines are being fed so I just need to find my machine and hit". Then there's the other side, "gee don't hear any machines hitting, today they changed the payout". All these reasons were in our minds as a reason for hitting or not hitting.😅 But, bec of yr sharing of the facts, I know these reasons weren't true. I laugh at myself now for being taken into my confirmation bias.
I NEVER play those firecracker, pig, dragon or train machines. I wish folks would listen to you. To me, quiet times are best for me in casinos because I can concentrate better and make better choices! Also, I don't drink alcohol and gamble nor do I chitchat and gamble. Those things make me lose my concentration and I might overshoot by cashout target.
The frustration of I’m due, I’m due, it’s coming! That is my biggest failure in gambling, since the past has very little bearing on the present situation. And still my brain won’t let it go.
Love the way you mention its a play on our brain. in my 40+ years of gambling been there many times and always used to try to find explanations and justifications of those hard nights of losses just to feel in control. It took a long time to accept and understand fully we are playing games of chance and by keeping this etched in my mind playing slots last 2 years has finally been fun and entertaining.
I come from a family of gamblers. I got the itch first time I stepped into a casino back in '94. Close to 30 years later, I have learned that you are not gonna win "the casino". Major delusional thinking amongst many a gambler there. Its all about money management and control when gambling. Very addictive behavior. Just learning to be a smart gambler and quit while you're ahead. Thank you for shedding light on this mentality that so many have.
RE: Availability bias- I would say in the early 2000's... I used to drive my mom to the casino every other weekend for years... She finally convinced me to sit at a machine, put $10 in, 25 cent denom. Max bet a few spins & WON $300. I didn't go back immediately but, gradually became a gambler. Currently, my average casino visit is every 6-8weeks. It's 100% true. Memories of a win & trying to duplicate it. Thanks for sharing. Great explanation 😊
The one caveat to this would be poker players. Ask a poker player to recount hands they've won or played well. They'll have a few stories for you. Ask them about their bad beats, and they'll have hours of incredibly detailed losses and bad beats.
Hi Marc, as a past regular roulette player in Tasmania in the 1970s, I sat at a table while 19 blacks came up in a row. My ‘go to’ when plying, is to bet on the previous colour. I added 25% of each win to my next bet until I reached the Table Maximum, which was controlled by the State Government at the time. I was a very happy chappy to lose the 20th bet. Love your channel and info. The reason I played this way was not because I thought it was necessarily a good bet, rather that I didn’t have to make a choice, therefore removed a biased decision. It just made it easier. Like when I play Blackjack, I press my win by 50% and reduce to my minimum when I loose. If I go backwards in my total winnings by 30%, I finish my gambling session for the visit. I made a living this way over a 4 year period at a time they were hitting the card counters but left me alone.
Great video! The segment of 'thinking back to one's first gambling experience', took me back to 1969. After I turned 21, (I had just got of the Army), my folks took me over to Vegas to celebrate....we stayed at 'The Mint", one evening I stayed out late and was playing at Binyons casino. I was playing a 'stand up' 5 cent slot, old school of course, and won $37.50. In those days that was a lot. Been playing ever since....I've learned so much from you guys, Thank you.....
Great vid!. I've been analysing every tid bit online for 5 years and end up with what you just said. But when I play live it seems different because of the anticipation and the adrenaline while playing. The rules in my head suddenly don't apply because I make some excuse for going big... or go home. That was the biggest mistake of last year. I'd been up alot more from that "so called" instinctive gut feeling which actually took me out by the time I was done. Bankroll is the difference between getting hurt and having a great time.
@@DrSchor as stated above, entertainment , you lose your money going to the movies, so you might as well lose your money how you want. I don’t judge those who chose to goto the movies over gamble. When you pay with money that has no ties to it, then even if you lose, it’s not hurting you.
Great video, Marc…The People are grateful for your advice! And - BTW - Ugh! I hate those illusion games! I never generally play ANY of the new slots anyway because I don’t like them and don’t have a huge bankroll to throw away..so that helps my budget. I stick to old school games, so hard to find!… so the very practice of hunting for them also slows my spending. Time of day?? I play 4 am to 8 am…for no other reason that the casinos are cleaner, quieter, less smoky and I enjoy myself so much more in the wee hours. Gambler - know your own heart!!💕
What do you do when you talk to other slot players, tell them the truth about their biases, and they still continue to believe these biases? That’s happened to me a couple of times and I eventually gave up because it was going nowhere. One person even said to me, “don’t believe these online experts” when they haven’t even watch your channel and Cowboy Slots. It sucks but now I just nod and let them do their “time of day” or “screen tapping”. People can believe what they wanna believe. Thanks to you guys, I play better and am smarter about it. I play only what I can afford to lose and play games that stretch my bank roll.
We deal with it every day in the comments. In fact, so far today, on this video we've had people basically telling us we are wrong (they can't admit their own bias). We get it and are respectful of it. Only so much we can do to tell them it's a bias.
Good advice, most of us gamblers know all these things but we still do what we do. Sometimes you get wrecked trying to chase a win, sometimes you beat the casino. It’s all very random on slots. They are not really set up to pay you money unless you get lucky. I’ve won $11 grand on a $1.50 bet and I’ve lost thousands on $25 bets and never got a bonus. I believe the hardest thing to do is knowing when to walk away. It seems to take years of practice, trial and error and discipline. It’s true weather your winning or losing. Thanks for your videos👍
Yes first time solo to a casino I won $900. The most addictive thing for me was going back the second time with $100 in free play and hit a $1500 jackpot on that free play. I was hooked ever since.
Great video! Not boring at all. Being reminded of the mental part of gambling helps keep it from becoming a problem and gives us the tools we need to use it as entertainment.
I love hearing about the psychology behind gambling. This was so interesting & informative, & I'd love to see more on this topic. I very much appreciate your insight. Thank you! :-)
I did not win until I started reading the rules. Your channel, as well as a few others, have been a huge factor in the way I play. The closest casino is about three hours from me, but I do not gamble regularly.
For us personally, mornings are good because you can find machines that have the Long-haired geisha lady with 4 or 5 pearls in the bowl when you can never find that during the rest of the day. It’s not a guarantee, but at least you’re playing on someone else’s money who got you to that point because she never, or very rarely, goes off with just one or 2 pearls in the bowl. You can find the 3 bags with maybe 1 or 2 bags a little bigger. Of course there’s no guarantee, but because more machines are available in the morning hours, we tend to get little wins which is fine for us 😊😊
This was a very interesting video. Biases are real, and hearing you talk about them has me looking back and realizing how many times I fell victim to one, but didn't know it! Now I know! Thanks, Marc.
You are exactly right Marc, a fat pig or a full pot or all burning firecrackers, don't mean anything but a bait from the casino. You really tried to put some sense into peoples head.
People should pin this video before they go to the casino, play it on the way there..or before you leave for the casino…these bias I’d say 90% of people believe in…you can save thousands by listening to Marc and Cowboy!! Great vid! Thank you!
I still don't understand exactly how the machines can be random numbers generated while simultaneously being programmed to maintain a certain payback percentage to the player & casino. How does it manage between 2 seemingly mutually exclusive initiatives?
It's like Roulette, 18 red, 18 black and one green zero (European wheel). That kind of initial set-up is what sets the percentage. And then the RNG does it's thing, that in the long run will land on every number the equal amount of times -> the house will win in the end because of the edge (the green number 0). It's the same for the slots. It's the initial set-up that decides the payback percentage and then the RNG does it's thing without bothering about anything else than creating random numbers. Are you with me?
Great explanation from Boris. Also consider a 52 deck of cards. The deck being shuffled continuously is the RNG at work. Picking a card out at random is pressing the spin button on a machine, the result of the pick has to be 1 of 52 cards. Each of those cards carry a different weight to them. So, the randomness, is that nobody can predict what comes next, but the control is, it has to be one of those 52 cards.
@@boris9047 Got it. The payback percentage is established & the RNG works within that framework, correct? Similar to a slot machine with their bonus rounds of dollar amounts in orbs, trophies or other symbols - what comes down is random, but it still chooses between a fixed number of established dollar amounts for that bet & that particular denomination.
@@michaelborhi1727 You could actually create a game of your own to play with friends that works in the same way. Tell them that they can pick one number between 1-10. If you decide that the payback percentage is 90% then you tell them that 9/10 numbers for example 1-9 will let them win and number 10 will take their money. Then you find a RNG on the Internet and set it to create random numbers between 1 and 10. Done, now you are the Casino. 🙂
While playing video poker at the bar the music was sooo loud that I lost concentration on the money I was spending and found myself not thinking and spent all my money!
Yup! The casino is constantly trying to throw things your way to break your concentration and focus. Music, drink service, announcements of jackpot winners, etc.
Marc pretty much explained the entire psychology of gambling addiction in one video. Well done. In either case, its still fun entertainment and the wife and I are heading to our local casino tomorrow 😊
Truth has been spoken. Sadly with the amount of youtubers gambling & showing winning is part of the problem. I like playing the tables & few machines, however I do know when to stop.
Hey Marc, great vid all so true. After your last vid about confirmation bias, I stepped back and saw how what you said was so true. But I still fall victim to that darnn Availability Bias find myself going to the same machines I had really won big on and end up leaving my budget. Now that you have given a very detailed explanation I am on high alert next time I go to the casino, gonna change my tactics.. 👍 Thanks
This was a great video, Marc. Very insightful and very informative. Hopefully people take this advice and run with it. And yes, the very 1st time I gambled was in 1988 in Vegas. Was 18, with the in-laws. Some little hole in the wall outside the strip. I hit a dollar machine for $50. Had to have m.i.l. cash it in for me because I wasn't 21. Floor security just told me if I was gonna play, to have someone else cash in. This is back when they still used dollar coins. No fancy tickets 😂. Then when we got to the strip, I didn't gamble at all because they were much more observant lol
Yep! First trip I went to Vegas was 32 years ago I couldn't lose! Everything I touched was gold. I then went 3 months later and drove home broke 🤣. Anyway I was already hooked and still love going to Laughlin and Vegas to gamble , as it's a short drive from Phoenix and we get free rooms now. In the beginning I fell into that Roulette myth and thought I had it figured out? Until I realized I didn't have the dummy board figured out. lol. So, slots, Video Poker, 3 Card Poker and Let it Ride for me know. Great video.
Lol great video! Everyone should educate themselves on how a slot machine works. It's amazing how people know better but they still want to think they are in control. At my local casino they will start announcing hand pays around 11:00 am. Guess what time I go to the casino? I've seen people count so many seconds before hitting the spine button. I saw a guy playing a 5 dollar machine and his wife pulled up a chair next to him and was praying out loud for him to win. When I saw that I asked myself wow should I even be doing this? That's when I decided to keep it fun and under control I've learned to take a break, grab something to eat and decide if I want to gamble some more.
First time wife and I won over $700. Went back the next week lost half our cash but got dinner close by and went back. My wife won $6014 jackpot with a $40 ticket on a $15 max bet (she didn't know she hit max bet. After that, we were hooked and began playing more frequently. That was 2010 and we still play today.
What great advice and experiences you’ve shared. Never knew there were actually terminology for the things(bias) you described. Very informative knowledge for gambling and life experiences. Thank you brother! 👍, Sub, and 🔔!
Marc, I think you’re on to something! My first Vegas trip at 21 I remember exactly which 2 machines I won on (no recollection of any losses 😂). A few spins on double diamond at the Aladdin and won $100. A few spins on a penguin machine at the Boardwalk and won $80. 20+ years later and can’t go more than a couple months between Vegas trips!
Mark you explained this to the T....I actually won a couple of hundred bucks about 30 years ago on a pocket full of quarters and I continued winning for a while and before I knew it might short gambling sessions got longer and longer and more and more expensive and 1 trip a week turned into 2 and I learned a valuable lesson I still gamble to this day but I learned to bring only what I intend to lose and no credit cards and no debit cards and I tell everyone that Gamble's that the casino only lets us hold their money for a while and they will take it back with interest they didn't build Vegas out of Sand and the Empires will be standing when we're gone but keep up with your videos I find them very educational thank you for your time.
Thank you for pounding this valuable information into my stubborn, biased brain! You, Dave and Brantley are the best! I have to remind myself constantly while I’m playing …take a break, set limits, don’t chase the bonus and on and on and on. I’m a much better gambler because of you! Wishing you the best in all you do! Lori (P.S. I’m sad that I wasn’t able to attend and meet you guys at Brantley’s fan event in Wendover a couple weeks ago, please come back again sometime!)
I consider myself a seasoned gambler. My problem or you could say bias is how much money I'm actually winning. I'm a VP player and when I hit a quad or more I usually send my friends a pic. There's times when I send out 7 or 8 pics of some sizeable wins (no jackpots) and my friends will say you must be up $2,000! I tell them, yes I won $2,000, but I put $300 in before I hit that 1 quad for $400. I get caught up on how much I'm actually netting. If I hit early in my buy in all is good, but when I'm hitting late in the buy in I'm breaking even. It's something that gets me if I don't take a time out and regroup. You probably already did a video on this, but thought I would share.😀🤑
Mark, you have put out some amazing content over the years, but this by far hands down and up is the best video in terms of education and gambling safely that you have ever done. Whether it's this channel or any others that you participated in. I wish all of the big gambling businesses would create some sort of gamble responsibly partnership with you and create other versions of this to play at all of their casinos to help people be smarter and wiser. I promise you I'm sharing this with all of my serious gamblers as well as those who are thinking about gambling or going to a casino. Well done big bro. Very well done!
I didn't walk away a winner my first time in a casino, but I was determined to find out why I had lost. I was in Vegas with some friends for a wedding, and when heard all this whooping and hollering at the craps table I went over there. Sometimes my chip would stay on the felt for a few rolls before they either took my money or gave me my chip back plus another chip. Other times I would put a chip somewhere on the felt, someone would roll the dice, then they would take my chip away immediately. When I got home I bought a book about craps, and it was there that I learned about those pesky one roll bets, LOL! As far as the time of day, I usually do better in the morning because I can take my time and not get frustrated. Frustration for me leads to hitting the buttons too fast and making bad decisions.
In regards to your own confirmation bias of those that win the first time they gamble, keep gambling... I don't recall if I won or not the first time I went to the casino. I think I lost in fact. But, for me it was more about the allure of the casino rather than the money. I grew up with my grandparents going to the casino and to Vegas often, and so it was always a goal and dream I'd go and gamble myself. Now that they've both passed, it's kind of a nice way to think of them, while using your tips and Brantley's tips to be smart. My last trip to Vegas proved that! I came out about $10 ahead after 3 days of gambling, so I was happy with that...
Thank you. I won $800 on Megabucks at the Stardust in 2000. It was my first trip to Vegas. It was quite embarrassing. Big green light going off with a siren sound. People coming around. I did not like that part. Every trip to Vegas, I am playing Megabucks. Last two trips, I check in and with my bags head right to Megabucks close by. April's trip I lost the $100, but June's trip $100 gave me $240. Always $3 spins.
I can easily remember the first time I gambled because it was earlier this year. I did win, put 40 in Ultimate Buffalo and won 160 on the smallest bet. Got super lucky. Did not repeat that although I did try. I only go to the casino now as an entertainment gambler. Yes, its great to win, but I normally do not come out ahead. I'm also stingy and will stop gambling on a small win! For instance, I put $10 in, get up to $15, I will walk out! It was hard to do the first time, but I kept reminding myself that I was up and to stop while ahead even just a little. It was 5 dollars I didn't have before.
You are spot on. We dont have casinos in my state we do have availability to o li e social casinos. I take breaks for 3 to 6 month on these because I know its a trap And yes my first time in a casino I did win. I used to live in Florida and had my share of jackpots and also had my share of losses. Slots are fun until they are not. If it stops being fun then take a break.
There is definitely a "It has hit before so it has to hit again" fallacy, but there is also very much the opposite - "It hasn't hit in my last few visits so this time it has to hit" fallacy. I've fallen prey more to the latter fallacy than the former.
I suppose we all have our own little biases, Mark. I tend to look at RNGs as going through peaks and valleys; although, they probably don't. If a slot doesn't give up a line hit in, say 6 spins, I treat this as a valley, get up, and move on. That's just my style of play. There will always be another slot along the way that will give up something. It's just a matter of time(ing)😅. It's my way of not getting locked into "the chase". When and if the win comes, I take my 3 backup spins and run for the room safe. We can all use another break from play, and this is one of those times.
first time did win a few small wins but like you said chase the big one and went home excited but lost what I came to play with only, but didn't learn because I go to have fun even if I don't win
