LauLiao, on 08 October 2014 - 03:51 PM, said:
That's how they get suckers at the roulette table in Vegas. They show the last winning numbers/colors so someone walking by will say, "Oh hey, the last 10 wins were all on black, so red MUST be coming up." Nope, you've still got a slightly below 50% chance of landing on black, and an equal chance of landing on red.
Gambler's fallacy.
I had to defeat this in football arguments, too. Back in 2011, fellow Seahawks fans of mine were
insistent on trying to take a quarterback in the later rounds and develop him into a starting QB. They pointed to Tom Brady and Tony Romo as examples that it was possible, then, when confronted with the reality that the overwhelming majority of late-round picks were total busts, delivered this gem: "Sooner or later, a late-round pick HAS to work out!"
Nope. Gambler's fallacy. The chances of the next late-round flier working out are exactly the same as that of the last one. (The reality was that fans were just paralyzed by the idea of a first-round pick, which carries great risk but also the majority of the success stories.)
Of course, then the Seahawks had to go draft Russell Wilson in the third round and prove those dimwits right. When will I
ever win an argument?
Edited by Rebas Kradd, 08 October 2014 - 04:08 PM.