Op-Ed: Kenapa penjudi slot percaya bisa menang meski pasti kalah? Ini bagaimana operator memanipulasi bias psikologi pemain (Why do slot gamblers believe they can win even though they are bound to lose? This is how operators manipulate players' psychological biases). (The Conversation ID)

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My latest article in The Conversation Indonesia discusses why gamblers believe they can win despite the inevitable losses. The insights are as follows:

The hot-hand fallacy, gambler's fallacy, and illusion of control are created by operators.
Psychological biases make individuals irrational, and irrationality decreases financial literacy, increases risk appetite, and also increases the excitement of gambling, which can have an impact on mental health.
In countries with regulations, operators will be monitored.
However, regulation is not the solution. Australia serves as an example.

This material is actually part of the case study I love to use in the Behavioral Finance course in the Master's program in Economics, Finance, and Accounting at Cov Uni.