104 books
—
130 voters
Gambling
“
Think of horse races. People like to bet on the one with three legs and a wheeze.They don't bet on that one because they think it will win, but because they can see how very glorious it would be if it were to win
...more
”
― The Watchmaker of Filigree Street
― The Watchmaker of Filigree Street
“
Another mistaken notion connected with the law of large numbers is the idea that an event is more or less likely to occur because it has or has not happened recently. The idea that the odds of an event with a fixed probability increase or decrease depending on recent occurrences of the event is called the gambler's fallacy. For example, if Kerrich landed, say, 44 heads in the first 100 tosses, the coin would not develop a bias towards the tails in order to catch up! That's what is at the root of
...more
”
― The Drunkard's Walk: How Randomness Rules Our Lives
― The Drunkard's Walk: How Randomness Rules Our Lives
Great books that deal around gambling, addiction, and sex.
5 members,
last active 15 years ago
2 members,
last active 14 years ago
12 members,
last active 5 years ago
















































