Gambler's fallacy
Mistaken belief that more frequent chance events will lead to less frequent chance events / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Gambler's fallacy?
Summarize this article for a 10 year old
The gambler's fallacy, also known as the Monte Carlo fallacy or the fallacy of the maturity of chances, is the belief that, if an event (whose occurrences are independent and identically distributed) has occurred more frequently than expected, it is less likely to happen again in the future (or vice versa). The fallacy is commonly associated with gambling, where it may be believed, for example, that the next dice roll is more than usually likely to be six because there have recently been fewer than the expected number of sixes.
The term "Monte Carlo fallacy" originates from an example of the phenomenon, in which the roulette wheel spun black 26 times in succession at the Monte Carlo Casino in 1913.[1]