The law of averages

As players we all have heard about the Law of Averages. This “law” says that over a given period of time certain things will appear over and over again or will repeat. However, since we do not play 24/7/365 a year, we can’t depend on the law to favor us at any specific time. To say it another way; the Law of Averages tells us that a race horse that hasn’t won in a long time is “due”. We know this is not true by any means; therefore, we have to adjust our game in spite of the “law of Averages.” In the short run, like we play, if red shows up, at roulette, four times in a row, we should go with red instead of going against it and betting on black. If we are getting good cards at blackjack we need to increase our bet. However, we see lots of players betting more each hand when losing instead of reducing their bets. On the other hand, casinos have always depended on the Law of Averages because they do play 24/7/365, and in the long run the law will prove itself over and over again. That is why the casinos seem to end each and every year with a profit. There is an old saying, “you can’t beat the casinos in the long run”, but, by adjusting your playing actions against the “Law of Averages” you can beat them in the short run.