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Gamblers' Fallacy

(It's my first post after Brilliant upgraded to a news-feed-style structure, and this is my first attempt to share something on a particular topic. So, please forgive any inconvenience.)

Image credit - Wikipedia

Gamblers mostly lose - it's a usual scene. Chance of winning a bet at a casino is really low.

Unfortunately, most gamblers are not mathematicians. So, they are likely to check there fate after a chain of losing streaks. Their psychology goes, "I have lost again and again, so, this time I have a huge probability to win."

What they make mess with is, such cases are independent of previous attempts (not all 'hard works'(!) seem to be yielding success!).

Consider this - whenever and of whatever length of time you toss a coin, your coin will either flip head upward or, tail upwards (if the coin doesn't have negative value of mass, which will result in the coin floating sky bound!). There is no logic in saying, "I have got 9 consecutive heads, so, now I'm more probable in getting a tail."

So, let's say no to gambling!

(I know my post is a bit of weak, ad I'm not aware of any similar post, due to my ignorance. I'm posting this in a mood of facebooking, ha ha ha!)

Note by Sheikh Asif Imran Shouborno
2 years, 5 months ago

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