The “Gambler’s Fallacy” Clarified

Gamblers fallacy

We’ve received several requests to clarify the “Gambler’s Fallacy” that we address in another article. The questions basically relate to, “What exactly do you mean when you say past outcomes don’t affect future outcomes, and how does that affect whether a certain number is due to hit?” Let’s see if we can clear this up. As described in our other … Read More

Don’t Let the Gambler’s Fallacy Hook You

Don’t ever let yourself get sucked in by idea behind the “gambler’s fallacy,” whether it’s online craps, roulette, or any casino game of chance.  If you do, you’ll fall right into the casino’s trap.  People who don’t understand statistics generally don’t understand the concept.  If that’s you, then you must accept the facts as presented in this article, even if … Read More