When stepping into a casino, it can be useful to have a clear sense of how probability works and how it applies to the games that you're playing. In today's discussion about gambling however, we're reminded that a gambler's fortune can depend on more than just random odds.
Today's post on the Gambler's Fallacy relates the tale of one night in Monte Carlo when people lost millions of dollars thinking the next spin of the roulette wheel would surely land the ball on red. Some readers pointed out that when a roulette ball keeps landing on black, there may be certain biases at work. xyzzy12345 notes: