

Why we gamble like monkeys - claypoolb
http://www.bbc.com/future/story/20150127-why-we-gamble-like-monkeys?utm_content=buffereb10c&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

======
claypoolb
I've been guilty of this time and time again... and not just at the casino!

"Win on roulette and your chances of winning again aren't more or less – they
stay exactly the same. But something in human psychology resists this fact,
and people often place money on the premise that streaks of luck will continue
– the so called 'hot hand'.

The opposite superstition is to bet that a streak has to end, in the false
belief that independent events of chance must somehow even out. This is known
as the gambler's fallacy, and achieved notoriety at the Casino de Monte-Carlo
on 18 August 1913."

