Gambler's Fallacy Simulator - StatPlay
Is a win 'due' after a losing streak? Visualize the Law of Large Numbers.
Gambler's Fallacy. Is a win 'due' after a losing streak? Each coin flip is independent. The coin has no memory. Even if you get 10 Heads in a row, the chance of the next one being Heads is still 50%. The 'Law of Large Numbers' says averages even out over thousands of tries, not by 'correcting' short streaks.