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her chances of winning this hand are 87%.
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So, my odds are good. I'm on a winning streak.
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Everybody in this place wants to get in on the action.
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How could I lose, right?
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Now, this is a classic error.
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In basketball it's called the Hot Hand Fallacy.
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A player makes a bunch of shots in a row.
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People are sure they're gonna make the next one.
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People think that whatever's happening now
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is gonna continue to happen into the future.
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During the real estate boom, markets were going up and up
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and people thought they would never go down.