Although George has lost his business and his wife has left him, he still believes that he is an excellent gambler, who is just having "a run of bad luck" that will soon change. Regarding George's situation, he is exhibiting the cognitive distortions known as

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George's belief that he is an excellent gambler despite significant losses and his expectation that his luck will change are indicative of a magnified perception of his gambling skill and the gambler's fallacy, which is the erroneous belief that a string of losses will be followed by a win.

Although George Has Lost His Business and His Wife Has