The Gambler’s Fallacy – Explained

THE MONDAY LINK

I swear that when I’m playing video poker there is one thing I can count on. Whenever I make a mistake on the cards that should be held, after I correct it, I never get a winning hand. Every time. It’s something I’m sure of because I’ve seen it over and over with my own eyes!

I’m sure you’ve heard this type of thing from other gamblers. Many of the things we perceive in a gambling instant we begin to believe as a “forever occurrence.”

Today’s link explains this phenomena, which is called Gambler’s Fallacy. Nick Valentine wrote an article for thecalculatorsite.comwhich “contains useful calculation and converter tools for every day use. Whether you’re looking to work out the compound interest on your savings, convert between two metric or imperial measurement units or calculate your BMI, The Calculator Site has tools to help.”  This website is far from being dedicated to casino gambling and yet actually explains the considerations and awareness casino visitors need so that they don’t get caught up in this selective memory.

Enjoy.

Binbin

“The gambler’s fallacy – explained”

by Nick Valentine

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