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These are common misunderstandings that arise in everyday reasoning about probabilities, many of which have been studied in great detail. Many people lose money while gambling due to their erroneous belief in this fallacy. Although the gambler's fallacy can apply to any form of gambling, it is easiest to illustrate by considering coin-tossing; its rebuttal can be summarised with the phrase "the coin doesn't have a memory". There are many scenarios where the gambler's fallacy might superficially seem to apply, where it in fact does not. If neither party turns up his cards, this is an admission that neither has eight or nine. In this case the banker is bound to offer a third card. If the point of the punter is baccarat (i.e. cards together amounting to ten or twenty, = 0), one, two, three, or four, he accepts as a matter of course, replying, "Yes," or "Card." A third card is then given to him, face upwards. If his point if already six or seven, he will, equally as a matter of course, REFUSE the offered card. To accept a card with six or seven, or refuse with baccarat, one, two, three, or four (known in either case as a "false draw"), is a breach of the established procedure of the game, and brings down upon the head of the offender the wrath of his fellow-punters; indeed, in some circles he is made liable for any loss they may incur thereby, and in others is punishable by a fine. At the point of five, and no other, is it optional to the punter whether to take a card or not; nobody has the right to advise him, or to remark upon his decision. Should the stakes of the punters exceed the amount for, the time being in the bank, the banker is not responsible for the amount of such excess. In the event of his losing, the croupier pays the punters in order of rotation, so far as the funds in the bank will extend; beyond this, they have no claim. The banker, may, however, in such a case, instead of resting on his right, declare the stakes accepted, forthwith putting up the needful funds to meet them. In such event the bank thenceforth becomes unlimited, and the banker must hold all stakes (to whatever amount) offered on any subsequent hand, or give up the bank. The 'Banker' must stand on 6 when the 'Player' has a 6 or 7 on the initial deal. External links Many riddles trick the reader into believing that they are an example of Gambler's Fallacy, such as the Monty Hall problem. Similarly, if I flip a coin twice and tell you that at least one of the two flips was heads, and ask what the probability is that they both came up heads, you might answer, that it is 50/50 (or 50%). This is incorrect: if I tell you that one of the two flips was heads then I am removing the tails-tails outcome only, leaving the following possibile outcomes: heads-heads, heads-tails, and tails-heads. These are equally likely, so heads-heads happens 1 time in 3 or 33% of the time. If I had specified that the first flip was heads, then the chances the second flip was heads too is 50%. Chinese poker Casino games generally provide a predictable long-term advantage to the casino, or "house", while offering the player the possibility of a large short-term payout. Casino games often include an illusion of control, in which the player must make choices. However, in most cases it is not mathematically possible for a player to eliminate his or her inherent long-term disadvantage (the house advantage) in a casino game. A random event is more likely to occur because it recently happened; and the display doesn't ruin your eyesight. But online gambling is a notable exception. At most online casinos either the software doesn't work with Macs, or the casino is shady and you wouldn't want to play at anyway. I've been trying to find a Mac-compatible online casino off and on since 2000, without much success. But now (2005) things are getting a whole lot better.

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