How Not
to Gamble.

Believing you’re due.

Losing five bets doesn’t make the sixth more likely to win.

A fair coin still has a 50% chance of landing heads after five tails. It doesn’t need to balance the earlier results by producing a head next.

The same principle applies to independent random outcomes. A long run of losses can feel unusual without changing the next chance.

Sports need a little more care.

An injury, weather, or a lineup change can affect a game. Past performance may contain useful information too. But the fact that you have lost several bets isn’t new information about the teams.

“I’m due a win” describes how the run feels. It doesn’t make the next wager more attractive.

Sources & further reading

Examples on this page are illustrative.