ImageDo ya feel lucky? Well do ya?

If you do, place your bet and double it again as it appears that lucky streaks are for real. If fact, they’re a behavioral fact of life.

It isn’t that people have a “hot hand,” explains a recent study by University College, London and as reported in The Economist, or that people are self-deceiving and only believe they’re winning when they are not. What occurs when one [usually] wins a series of hands is that wining streaks increase in length because winners start choosing safer bets and safer odds, which leads to more wins, albeit for less winnings. Conversely, those experiencing a losing streak also bring it on themselves making even riskier bets after each loss, and thus lose more.

The rule “the house always wins” is thereby assured, for winning streaks win less and losing streaks lose more. Perhaps the “gambler’s fallacy” is correct after all.

 

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