Talking about the Gambler's Fallacy in my last post, I was reminded of another poker application of this concept. The situation comes up frequently when you hold AA or KK, and you raise preflop and everyone folds. Some people will show their hands in situations like this, just because it's kind of fun to show big hands. It's also sometimes sort of a way to complain because the raiser didn't get ...
Gambler’s Fallacy in poker. Defensive chip handling tell.
I fell victim to the "gambler's fallacy" the other day at poker. The gambler's fallacy is the belief that because something out-of-the-ordinary has occurred, it will be less likely to occur again. Casinos make a lot of money on this idea with roulette, because many people have a natural tendency to say, "oh, it's been red 5 times in a row, better bet on black", when in reality, the chances of the ...