List of common misconceptions
When a sequence of independent trials of a random process is observed a long run may occur. For example, when a roulette ball ended up on black 26 times in a row, and not even once on red,), the other outcome is often believed to be more likely for the next trial: it is thought to be "due". This misconception is known as the gambler's fallacy; in reality, by the definition of statistical independence, that outcome is just as likely or unlikely on the next trial as always—a property sometimes informally described by the phrase, "the system has no memory".