Wednesday, April 19, 2006

There are many types of fallacy that can be seen by a gambler even the professional players also show some of the fallacy because of these fallacies a gambler suffers a lot of loss The Gamblers Fallacy is also some times is called the Monte Carlo fallacy. Monte Carlo fallacy or gamblers fallacy is commonly referred to as the mistakes that gamblers usually make while gambling that is may be because of some presumed notions or because of over confidence that professional players show, while gambling. It is very difficult to define the term gamblers fallacy because there is a large scope of fallacy that gambler usually makes. However, gamblers fallacy is defined as a misunderstanding of the laws of probability by the gambler, to imply that independent the random variables that are even out by active self correction. Read further...