** Others will see the last few numbers being red as a trend that red is "hot" and will continue to bet on red until it cools down again.  This extends to numbers and groups of numbers, which some claim are "sleeping" and "waking up." 
* Similar to the roulette example above, gamblers apply this logic to slot machines, which is pointed out in the book [[http://www.amazon.com/Smart-Slot-Strategies-mathematical-strategies/dp/1453609261/ref=sr_1_1?ie=UTF8&qid=1351266797&sr=8-1&keywords=smart+slot+strategies Smart Slot Strategies]].  The author points out how gamblers will ignore the fact that a machine is controlled by a random number generator and will assume a machine is "hot" or "cold" based on how it's performing.  It's further explained that many players believe they can tell how a machine is programmed by playing the machine around 20 times, despite the random number generator having millions of possibilities.  A sample size of 20 plays is far too small to determine any trend in a population that size.

8th Sep '12 7:27:05 PM karstovich2

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8th Sep '12 7:27:05 PM karstovich2

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