Logical Fallacy of the Week, Week 39: Gambler’s Fallacy

The Gambler's fallacy, also known as the Monte Carlo fallacy (because its most famous example happened in a Monte Carlo Casino in 1913), and also referred to as the fallacy of the maturity of chances, is the belief that if deviations from expected behaviour are observed in repeated independent trials of some random process, future deviations in the opposite direction are then more likely.   The incorrect belief that separate, independent events can affect the likelihood of another random event. If a coin flip lands on heads 10 times in a row, the belief that it is "due to land on tails" is incorrect.