It's easy to see where most people get their ideas about probability, and why most of them are wrong. The Gambler's Fallacy is the belief that a random event can have an effect on another random and totally independent event. It can't!
There are a lot of silly and feeble-minded people in the world. Some are superstitious when it comes to casino gambling games. They believe that certain ritual and objects will make them winners. Funny why they continue to believe if they never win!
So what exactly is the hot hand fallacy? Well, at some point in the evening, there'll be a hustle and bustle around a games table. Both players and spectators will flock to see a punter having a streak of good luck. From quiet beginnings, the cheering goes up a few decibels each time he lands a lucky number or card. Everyone is looking happy and excited, though no one more so than the player himself. Is there anything better than hitting a lucky streak at the casino. The downer is that having a player on fire in the lucky zone is nothing more than an illusion.
What is it that we know about a winning streak? Everyone wants one. All gamblers hates it's counterpart, a losing streak. Therefore, we are all looking answers to the question: how to get on a winning streak. In this descriptive guide, we will cover the statistics, behaviour and sciences behind such streaks and how to manage one.