Imagine a roulette wheel landing on black five times in a row. Someone watching might decide that red is now more likely because it has not appeared for several turns. The reasoning sounds intuitive: surely the sequence has to balance out eventually. That assumption illustrates the gambler’s fallacy, a cognitive bias in which people expect random outcomes to correct themselves over a short period. It can affect how people interpret gambling results, assess risk, and decide whether to place another bet. Go on! The Gambler’s Fallacy Explained In a game with independent outcomes, one result does not automatically change the…