The Gamblers Fallacy

The Gambler’s Fallacy, also known as the Monte Carlo fallacy or the fallacy of the maturity of chances, is the belief that, if something happens more frequently than normal during a given period, it will happen less frequently in the future (or vice versa).

One useful counter-measure is to ask: What correlation data am I using to form my opinion on? Is it valid or is it simply a hunch?

For a full list of the most common biases, click here.