Quote from: worhiper_-_ on March 25, 2015, 08:24:19 AM

http://i.imgur.com/t5ojcW2.png

Many gamblers believe that getting further into a loss/win streak becomes less unlikely as the streak's number gets bigger. Gambler's fallacy says that each bet is calcuated individually and only it's chances of win/loss are the ones that count.

You can click on the image for a wikipedia link. What do you think?

The bolded statement is incorrect. (It is called math, not gambler's fallacy Tongue

)

See definition below:

Quote from: Light on March 25, 2015, 08:50:39 AM

Quote from: ndnhc on March 25, 2015, 08:26:40 AM

It absolutely exists; I lost almost all my balance because of that. twice now.

I got too many 7s in roulettts and lost too a few days ago.(lucky this one was a bonus code)

Edit: You got that 'Gambler's fallacy says that' part wrong. It is just the opposite.

Does not exist. Please look up variance or playing on a rigged site. The Gambler's Fallacy statement itself is correct.

Wrong. Gambler's fallacy exists.

You and OP are defining it the wrong way.

DEFINITION of 'Gambler's Fallacy' When an individual erroneously believes that the onset of a certain random event is less likely to happen following an event or a series of events.

It exists means there are people who erraneously believe that.

Quote from: ShetKid on March 25, 2015, 04:59:37 PM

Quote from: GannickusX on March 25, 2015, 11:19:10 AM

Quote from: Ingatqhvq on March 25, 2015, 10:27:13 AM

Well Gambler's Fallacy is derived from the law of large numbers. Of course if you flip a coin 10,000 times with all heads, the next flip is still a 50/50 but the odds of that happening are really low.

--snip--

That would be the chances of getting 10.000 heads in a row if im not mistaken

That is definitely not right. The odds of getting 10 heads in a row is 0.09% . And not the figure you have posted.

Any questions? Tongue

(If you are confusing '.' and ',' read : http://en.wikipedia.org/wiki/Decimal_mark#Countries_using_Arabic_numerals_with_decimal_point
Easy way to identify is if there are 3 zeroes, it is thousands and not a decimal point usually.)