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Gambler’s Fallacy

The Gambler’s Fallacy is the mistaken notion that repetition changes the odds. If you flip a coin five times, always getting tails, there’s still a 50-50 chance that you’ll get tails on your next flip. You can’t say— “Tails has come up five times in a row, so now it’s ‘time’ that heads comes up.”

Gambler’s Anonymous

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