Denny, a 17-year-old college student, is playing online poker and believes that his losses must be followed by wins, so he doubles his bet because of this cognitive distortion known as the gambler's fallacy.

Question

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The gambler's fallacy is the belief that a particular event becomes less likely to occur after it has occurred previously or that it becomes more likely to occur after it has not occurred for a while. This cognitive distortion can lead to people doubling their bets, as in Denny's case, in the mistaken belief that as they have lost previously, a win is due soon.

Denny, a 17-Year-Old College Student, Is Playing Online Poker and Believes