Understand the idea
Believing a loss streak must soon reverse can encourage escalating commitments. A sequence does not create a debt that chance must repay.
Avoid the gambler’s fallacy
Believing a loss streak must soon reverse can encourage escalating commitments. A sequence does not create a debt that chance must repay.
Inside this edition
One topic. Three useful perspectives.
3 sections
Context
Put it into practice
Before acting on a streak, ask whether the events are independent and whether the probabilities actually changed. Keep any preset limits unchanged.
Know the limits
Increasing a stake to recover earlier losses increases exposure; it does not guarantee recovery.
No matching sections. Try a different phrase or choose All sections.
Make the reading useful.
Take a moment to check your understanding. This is a reflection aid, not a certification or account check.
Progress is saved only in this browser. No account is created.