The gambler's fallacy is _____.

Question

Quizplus · Accepted Answer

The gambler's fallacy is the mistaken belief that if a chance event has not occurred for a while, then it is more likely to occur. It is based on the false assumption that probability has a memory, which is not true. This fallacy often occurs in gambling situations, but can also apply to other contexts. Option A is incorrect as it refers to a separate concept of the casino's advantage in gambling games. Option B is incorrect as it refers to a specific situation where the probability is 50/50, but this does not always apply. Option D is incorrect as there is a correct answer.

The Gambler's Fallacy Is _____