Quote Originally Posted by Elamys View Post
On the subject of this, clumps/streaks happen in real life too. The gambler's/monte carlo fallacy has been brought up in threads about this before; a really good example of streaking comes from the exact situation that gave it the name "monte carlo" from the casino where it happened: the ball fell on black 26 times in a row, and people lost millions betting red, assuming that red HAD to happen after that.
This is why to this day many(most?) casino's will put up a history board at a roulette table showing the results of the last 10-20 spins. When a random streak occurs the people who dont understand probability will start placing more and bigger bets on the other side because "red is due to hit" or whatever. They win/lose at the same rate they do on every other spin. And since the odds are the same on every spin, more and bigger bets means the house takes in more money.