A person was having trouble winning a game of poker.
A person rolled a dice. Before doing so, he asked a few people what they thought the result was going to be. Only one of them got it correct.
At a casino, a person spun a roulette board 25 times and all of them were black results. Bids on red were increasing as time went on, and people lost a lot of money. They presumed that a red result was due.
There were two cups in front of a person. One cup had poison, and one cup had water. The poison was odorless and colorless The person died because he thought that they both were water.
What is Gambler's Fallacy?
A cognitive bias that is shown when someone predicts a result that most people pick.
A logical fallacy that is shown when someone presumes that something that happens repeatedly on average is going to change, because it is "overdue."
A gambler's dilemma, where the gambler keeps on losing.
The gambler's problem, where the gambler cheats when playing.
Is gambler's fallacy always bad?
Yes
No
Maybe
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