Glossary · math
Gambler's fallacy
The belief that past spins change the odds of the next one. They do not: spins are independent.
In context
After ten redsbetRedEven-money bet on the 18 red numbers. French: rouge.Read full →, blackbetBlackEven-money bet on the 18 black numbers. French: noir.Read full → is still 18/37. Convergence to the long-run average happens by dilution, not by correction.
Did you know
On 18 August 1913 at Monte Carlo, black came up 26 times in a row. Players lost millions of francs betting on red from about the fifteenth black, each spin “more certain” than the last. It is why the fallacy is also called the Monte Carlo fallacy.