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Illusion of Control: This is the tendency for people to exaggerate their ability to control events. It is not perceived like a loss, but rather an encouragement that a win is just around the corner. Near Misses: That feeling of being “so close” to a big win is a potent psychological motivator. Wearing a lucky charm are all manifestations of this bia Mental Biases at the Gaming Table Beyond brain chemistry, several cognitive biases play a significant role in how we perceive our chances at a casino.
The Monte Carlo Fallacy: This is the the mistaken belief that if a particular outcome has occurred frequently in the past, it is less to occur in the future (or vice-versa).
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