Looking for a Good Deal
The reality show Deal or No Deal is quickly becoming one of the most famous shows on television today. Aside from the excitement it brings, it would be hard to ignore the prize money waiting for the winner, which is much like how gambling works. Gambling entices players with its fast money and excitement as well.
How does Deal or No Deal work?
Each episode, a contestant chooses a suitcase out of the 26 available on the set. This would be chosen suitcase. Each suitcase contains amount of prizes, so the contestant should hope that he got the biggest one. After that, he opens the suitcases first in sets, then as the game progressed, one by one. Each level, the banker will offer him a deal. He would try to buy the chosen suitcase from the contestant. If the contestant feels that the offer is smaller than the amount of his chosen suitcase, then he should exclaim "no deal". If he thinks that the offer is good enough, then it's a deal.
This game is much like gambling, where timing is the key. The banker's offer goes up and down depending on the amounts that have been revealed. The key here is taking the offer while it is at its peak, for if the bigger amounts have been revealed, the offer will go down.
Like in gambling, players of Deal or No Deal should know when to stop. Greed gets in the way of success in this game, which is also true for gambling. A common sight in this game is a contestant still not taking a deal even if it is already going down. That contestant wants to get higher offers, but unfortunately they get worse because more big amounts are being opened. This is a good example of chasing losses in gambling.
The only skill you will need in this game is the ability to stop at the right moment, which is what you also need in gambling games such as slots. Unlike in poker where the gambling players have most of the control, here, luck dictates the game. There is no way of knowing where the smaller amounts are, so players would rely on luck. If a player thinks that luck is not with him that moment, he should maximize the only power he has, which is to stop.
However, very few contestants know when to quit. They are like player with problem gambling. These gambling players are convinced that their situation will get better that is why they do not wish to stop, but contrary to their belief, they will lose more.