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But the lesson isn't how to tell whether a coin is fair. The lesson is that in independent events such as coin flips, lottery draws, roulette or slot machine sp
by throwawayboise 5y ago
But the lesson isn't how to tell whether a coin is fair. The lesson is that in independent events such as coin flips, lottery draws, roulette or slot machine spins, rolls of the dice, etc., past outcomes don't predict future outcomes. If people understood this they would not spend hours at gaming tables and machines, because the odds (in favor of the house) are exactly the same for your 100th pull of the lever as they were for the first one, and the more you play the more likely it is that you lose, not win.
- DarylZero 5y agoIt's not based on a false understanding of math. It's based on the feeling they get (of anticipation or whatever). It's harder to cure a gambling addiction than just giving them math facts. They don't even accept the fact they're addicts. To accept it would feel bad so they don't have the bad feeling thoughts. This emotional stuff just doesn't yield to facts.