Also known as the fallacy of the maturity of chances, or the Monte Carlo fallacy, the gambler’s fallacy is the belief that odds can change over time in a situation of pure chance. In other words, it’s the belief that if a player has been having a bad streak during a poker game, their luck will begin to improve as the game continues. Alternatively, a poker player starting out strong in a new poker game may believe their luck will get worse as they carry on playing. Continue Reading