Slot machines, whether physical or online, are the backbone of the gambling sector. Their simplicity, colorful design, and a tantalizing chance of hitting it big keeps players coming back for more. However, there is so much more hidden behind the glitz and glamor of such games; the complexity of the algorithm, the mechanics, the psychology,…
The gambler’s fallacy is a widespread misperception of probability and randomness that can result in bad judgements. It also goes by other names, including the Monte Carlo fallacy, after a famous incident in 1913 at the Casino de Monte-Carlo, where gamblers gambled millions of francs because they believed that after the roulette wheel hit black…

