On August 18, 1913, at the casino in Monte Carlo, black came up a record twenty-

Question

On August 18, 1913, at the casino in Monte Carlo, black came up a record twenty-six times in succession [in roulette]. There was a near-panicky rush to bet on red, beginning about the time black had come up fifteen times. Players doubled and tripled their bets. A poor student, who never him any money to spare, tripled his bet and bet on red on the 2lst roll; he reasoned that red was due, since he'd seen black come up on each of the 20 previous rolls? Was the student wise? Explain your reasoning.

Explanation / Answer

This was not a wise decision, because it does not makese sense that RED and BLACK will appear equal times. Although they have equal probabilty, but Based on the previous records there is more chance of coming black than red, so he should go with black.

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