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Gamblers Believe the Past Affects the Future
Gamblers often live in fantasy worlds and believe that they can find a solution for everything. One of these dream solutions which many gamblers live by is the Gamblers fallacy. In this fallacy, the gamblers believe that what has happened in the past in a game or games will affect what happens in the future. For example if you are throwing a coin and it comes up heads a few times in a row, the gamblers' fallacy states that the next throw has to be a tail. Reality and mathematics can prove that it is impossible to tell where the next throw will land as there is a one in two chance of it being either heads or tails and each throw is totally independent of the previous one.
The Monte Carlo Fallacy
The gamblers fallacy is also known as the Monte Carlo fallacy as many famous gamblers have tried to prove their theories correct in the Monte Carlo casino. In an ideal world it would be great to believe that you can predict what will happen at each flip of a card or throw of the dice. But, if this were the case then casinos would soon go out of business. It is human nature to look for something that there isn't and try and prove that a theory exists when it does not.
Martingdale Supports the Gamblers' Fallacy
Today casino games are all powered by random number generators which mean every single throw of the dice, spin of the wheel and flick of the card is totally independent of the one before. Whether you get the same number on a Roulette wheel 5 times in a row or 7 times in a row is totally fluke and luck. One spin is not related to the other. Having said the Martingdale betting theory totally supports the gamblers fallacy. Martingdale supported the idea that for every move that you lose, you should double your bet as your chances of winning get higher and then you will always cover your losses.
Whether you believe in the gamblers fallacy or not, one thing is for sure you still need luck on your side and a good bankroll to get anywhere in a casino game.
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