The Casino Sunk Cost Fallacy


Casino is a fun and exciting place to play games, drink and mingle. It’s also a place where many people strut their stuff and hope to hit it big, whether they’re newbies or regulars. Though there’s the occasional tutting when things don’t go their way, most people have a good time.

Often casinos are brightly lit and play music that’s upbeat. They’re designed to make you lose track of the time, ensuring that players keep coming back for more. There are a lot of different games to choose from, and there’s no telling when your lucky streak will kick in and you’ll win big.

Casinos use mathematics to predict how much money they’ll make based on the house edge and variance of each game. They’re typically staffed by mathematicians and computer programmers who specialize in gambling analysis. Casinos are required to post these statistics, and they must be consulted by players before making a wager.

Martin Scorsese’s epic movie Casino tells the story of a Vegas history of greed and corruption that included mobster bosses, Teamsters union officials, and even politicians. It’s a thrilling film to watch, and Sharon Stone was at her best as the blonde hustler Ginger McKenna. But it’s the characters that are most memorable. They’re a twisted and believable bunch, full of treachery and avarice. In the end, they get their comeuppance – but we still feel for them. That’s because of the sunk cost fallacy.