Monte Carlo fallacy

English Etymology From an incident which took place at the Casino de Monte-Carlo.2015-01-28 Why we gamble like monkeys Tom Stafford BBC.com http://www.bbc.com/future/story/20150127-why-we-gamble-like-monkeys This is known as the gambler's fallacy, and achieved notoriety at the Casino de Monte-Carlo on 18 August 1913. The ball fell on black 26 times in a row, and as the streak lengthened gamblers lost millions betting on red, believing that the chances changed with the length of the run of blacks. https://web.archive.org/web/20191003011047/http://www.bbc.com:80/future/story/20150127-why-we-gamble-like-monkeys 3 October 2019 Noun Monte Carlo fallacy The fallacy, most often believed by gamblers, that a past random event influences the outcome of a future random event, that is, that a run of even numbers at roulette means that there is a greater chance of an odd number next time. en gambler's fallacy References Further reading gambler's fallacy en terms derived from toponyms