Post
Topic
Board Gambling discussion
Re: The Gambler's Fallacy (The key to unbiased gambling)
by
TheCoinGrabber
on 27/07/2019, 18:06:53 UTC
Yes, it's the "it's about to blow" attitude towards lotto that we often see when every time the jackpot is raised. Each time it's not won, people become even more sure it's going to be on the next draw.

I think the only games where previous draws matter is cards since it's being drawn from the same deck. Maybe bingo as well since it's just a race to get the most Xs. Everything else, lotto, dice, roulette, each spin, roll and throw have no relation with each other.

We're definitely not bad at gambling.

We are risk-takers but we are not exactly good at analyzing probability. We are not good with extremely small or large numbers. Adding to your own evolutionary claim, we never had to deal with such numbers in the wild which is why we aren't hardwired to easily understand them. To many hunter-gatherers anything above 20 is "too many".