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> Yet the illusion of streaks or certain outcomes being “due” is powerful, and such thinking is almost ubiquitous among gamblers. It derives from our tendency t
by gexla 5y ago
> Yet the illusion of streaks or certain outcomes being “due” is powerful, and such thinking is almost ubiquitous among gamblers. It derives from our tendency toward pattern recognition (apophenia), seeing illusory patterns in random noise.
And yet, pattern recognition is also what you would draw on to see that this is an illusion? Maybe you just need to know the way the game works rather than guessing?
Then continues droning on about patterns.
No mention of volatility or what "regression to the mean" actually looks like (the casino's house edge.)
I get the sense the person who wrote this never gambles. For a much better explanation, find writing from poker players. Also excellent on this subject is Nassim Taleb.
I recommend everyone put up some tuition (losses at the table) to learn poker at a low stakes table. The game will teach you a ton about life.