Gambler’s fallacy

According to the gambler’s fallacy, players think earlier random events shape future random event probabilities through a belief that certain outcomes must occur, when preceding events take different directions. 

Example 

When roulette players observe multiple consecutive red outcomes, they mistakenly predict black outcomes for the next spin, although every spin functions independently. 

Consequences 

Problematic gambling behaviour stems from players who hold inaccurate beliefs, placing more trust in unproven thought patterns than in the probabilities inherent in games of chance. This typically results in heightened vulnerability and poor betting decisions.