Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Lottocoin as a SCAM
by
damnation
on 01/02/2014, 20:54:11 UTC
You want math? The probability of getting 15 reds in a row IF the casino wasn't rigged and gave a 50/50 split like it should would be 0.00030517578125% chance of happening.

This is gambler's logic.. the odd's are still the same at 50/50... Heads or tails... Black or Red... the coins/cards dont care if it was Heads' or red in the previous 100 flips/draws... Calculating the probability of a situation occurring is irrelevant to the fact that the only odds that matter are 50/50.

Found the link.. Please refer to:
http://en.wikipedia.org/wiki/Gambler%27s_fallacy

The most famous example of the gambler’s fallacy occurred in a game of roulette at the Monte Carlo Casino on August 18, 1913,[5] when the ball fell in black 26 times in a row. This was an extremely uncommon occurrence, although no more nor less common than any of the other 67,108,863 sequences of 26 red or black. Gamblers lost millions of francs betting against black, reasoning incorrectly that the streak was causing an "imbalance" in the randomness of the wheel, and that it had to be followed by a long streak of red.[1]