Quote from: Gizmotron on June 10, 2014, 03:02:44 PM
Mathematical fundamentalism and probability can't predict when a win streak will occur and how long it will last. Those are two things that happen every day, and they do this without any need for prediction to make them happen.
Actually, probability can predict those things, that's what expectation is. The expectation is an average, but of course you have to factor in the variance, so events are predictable only within certain limits. You can predict events like the number of spins it takes to get a run of 3 even chances in a row, or the number of spins on average before all numbers on the wheel have hit at least once.
So reading randomness is confirming continuing situations? OK, but unless you can predict better than the expectation says you will, how can you hope to gain an edge? You can lose a lot of bets before your situation continues as you hope it will, and the math says that over time those losses will outweigh the wins.