Dylan Magee
The Gamblers
Fallacy
Are you up for a win? The gamblers fallacy is the belief that if one continues to lose they are eventually up
for a win. They also feel that if something occurs such as a coin landing on
heads 10 times in a row that it is more likely that it will land on tails the
next time simply because it hasn't occurred in a while. Their mistake is that
their chances of winning are equal each and every time they bet so it is just
as possible that they can continue to lose as it is that they will start to win. While doing some research on this
topic I found an interesting article which explained the fallacy quite well but
it also went into a pathological disease that people can acquire by believing
in the gamblers fallacy. This disease causes the person to believe that if they
just keep playing without rest that they will eventually win back all the money
that they have lost and more, without treatment the disease will only stop when
the gambler is dead or has run out of money. The link below gives the full
story.
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