Gambling falacies.

Gamblers commonly have fallacies, some of which are:

• Past random results will affect the future:  A coin tossed nine times 'heads' will either 'be a heads coin', or it will be 'due to come down tails'. The roulette wheel is 'spinning red now'.
• Gambling wins are easy: Gamblers are shown that wins often happen, the ratio of wins to losses are disguised and hidden.
• Gambling can be used a source of money. Gamblers will commonly talk of 'going to the gambling shop to get some extra money'.
• Skill and knowledge will affect the result disproportionately: A person who thinks they know about horses or football teams will often bet on results that they do not have adequate information about.
• The laws of averages will kick in: A 'random' situation has happened, such as a roulette wheel winning on 'red', it will be due to change to 'black' results soon; a coin tossed will eventually average 50/50 heads and tails.
• On a 'role': Gamblers may think that they are on a winning, or losing, 'role'. They sometimes will alter their physical and emotional behaviour as a result.
• The money bet is not really lost, it is still 'their' money: Gamblers may emotionally believe that the bet is not really lost, merely that the bet has to be 'recovered' from the gambling industry. It is the feeling that the gambling industry 'is keeping their money'. It results in 'trying to recover losses', or 'chasing losses'.
• Gamblers are commonly competitive, frequently successfully: there may be an emotional feeling that if they try to bet harder they will win more.

Many gambling fallacies have some logic, even if that logic is not valid. It is difficult to reason how and when the laws of averages do not apply to some gambling situations. A prime example is tossing a coin; each time is a new event, a coin does not have a memory - it does not remember what previously happened. Each time a coin is tossed it has a 50/50 chance of landing each side. If a coin turns 'heads' nine times in a row gamblers may make illogical conclusions; either that it is a 'heads' coin which will turn heads next, or it is due to turn tails so the next turn will be tails.

Other gambling fallacies often have the same kind of logic.

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