Despite being on the losing spree, people might gamble more with the hope that they will win the next play. Fond memories of past victories entice players to go back. A recent study has revealed this trend. The authors of the case study wrote of the results of these case studies in the Journal of Experimental Psychology. In this article, we would be looking at the interesting findings revealed by this interesting study.
The study indicated that people were more likely to continue playing when scientists reminded or primed them of past winning outcomes. The study indicated that people were over 15% more likely to play more. The scientists, from the University for Warwick in Britain, believe that memories of the people play a crucial role in creating certain decisions. When the team interviewed people who are in the habit of gambling, they found that subtle cues about the past successes played a significant role in propelling them forward to gamble more. This tendency increased in people who go for gambling in local casinos, rather than ONLINE. Furthermore, the players tended to outlay more cash for the final hand with the hope that they would win big.
The researchers had come with the hypothesis that recollection of winning outcomes in the past resulted in players risking more on the table. The results of the study more or less show the roles these cues play influencing people to play more frequently as well as risking more money. In order to confirm the hypothesis, the researchers manipulated the memory of the participants with regard to previous winning outcomes. The researchers achieved this by following a very specific line of questioning and computer simulation.
Participants were presented with a choice of four colored doors to select from. Three of the doors led to guaranteed outcomes( 0, 40 or 80 ). The fourth door, however, led to a risky 50/50 outcome. The researchers then reminded the participants about their past winning or losses based on the points that they got from the door they opened. When participants were reminded of their high frequency of winning outcomes, they tended to be far more risk-prone, betting higher values and with more frequency.
Be aware of your most recent winning or losing hands and do not let this influence you. Have a plan and stick to it. Have rules with regard to position sizing (how much you bet per hand) and follow this rule. Be particularly careful with playing in casinos where the probability of being unduly influenced is far greater.