Gamblers Fallacy. That team has won the coin toss for the last three games. The gambler s fallacy is the tendency to assume that an event is less likely to occur in the future if it has frequently occurred in the past.
Examples of gambler s fallacy. The gambler s fallacy is the tendency to assume that an event is less likely to occur in the future if it has frequently occurred in the past. Gambler s fallacy refers to the erroneous thinking that a certain event is more or less likely given a previous series of events.
That s exactly what happened in the monte carlo casino.
That s exactly what happened in the monte carlo casino. By definition the gambler s fallacy is the erroneous belief that if a particular event occurs more frequently than normal during the past it is less likely to happen in the future. Your mind falls victim to the reverse logic too where you feel an event will occur soon because it was nowhere in sight in the recent past. It is also named monte carlo fallacy after a casino in las vegas.
