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Ratio bias. Gamblers will prefer gambles with even worse odds that happen to be drawn from a considerable sample (e.g., drawing one red ball from an urn made up of 89 crimson balls and eleven blue balls) to better odds which have been drawn from a little sample (drawing just one pink ball from an urn containing nine purple balls and just one blue ball).[sixty four]
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Don’t chase your losses. Most of the time this can cause even even bigger losses, leaving you within a worse place than in which you started off.