Thursday, April 08, 2004
Gambler's Fallacy --
CNN.com - Man to bet all on Vegas roulette spin - Apr 8, 2004
An Englishman sold all his possessions, including his clothes, and is going to bet it all on one spin of the roulette wheel.
He's only betting on a color, which is 2 to 1 odds, not a single number, which is either 37 to 1 or 36 to 1 depending on the wheel.
I would say he's not that big a fool, but betting your life's worth of accumulated wealth on what is essentially a flip of the coin is not exactly so swift either.
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CNN.com - Man to bet all on Vegas roulette spin - Apr 8, 2004
An Englishman sold all his possessions, including his clothes, and is going to bet it all on one spin of the roulette wheel.
He's only betting on a color, which is 2 to 1 odds, not a single number, which is either 37 to 1 or 36 to 1 depending on the wheel.
I would say he's not that big a fool, but betting your life's worth of accumulated wealth on what is essentially a flip of the coin is not exactly so swift either.
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