It’s interesting to note observations and tests of folks who are asked to bet or choose heads or tails when tossing coins.
The odds of a coin toss being heads or tails is always 50-50. Yet, when for example, heads comes up twice in a row, a large percentage of players will think that the odds will then favor tails as the next result.
True, over a total of as many as 1,000 coin flips, you may not get exactly 500 heads and 500 tails, but you can expect a figure extremely close. Still, many folks continue to believe that over the shorter-term, a following coin-toss will have a bearing on past results. (See the Earl J. Weinreb NewsHole® comments.)
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