Why do some players insist on “hot streaks” or “cold streaks” when playing Blackjack?

[Jonah]

Some players insist on "hot streaks" or "cold streaks" in Blackjack because of a natural tendency to perceive patterns in random events, a psychological phenomenon known as the gambler's fallacy. This fallacy is the belief that future outcomes are influenced by past events, even in games of pure chance like Blackjack.
In reality, Blackjack outcomes are independent of each other, and the cards are dealt randomly, whether from a single deck or multiple decks. However, players may feel that the game is "due" for a winning or losing streak, especially if they've had a series of good or bad results. This belief is partly driven by cognitive biases, such as the illusion of control (where players think they can influence outcomes) and confirmation bias (where players remember winning streaks but forget losing ones).
The idea of a "hot streak" or "cold streak" also aligns with the excitement and drama of the game, creating a narrative that helps players make sense of the randomness, even though there is no statistical basis for such streaks in a game with well-shuffled decks. Despite the fact that each hand is independent, players continue to attach meaning to results based on their previous experiences.

 

[CR7]

That's a great explanation. It's fascinating how our brains can trick us into believing in patterns that don't actually exist in random events like Blackjack. The concept of "hot streaks" and "cold streaks" can add an element of excitement and emotion to the game, even though statistically each hand is independent of the previous one. It's important for players to understand the reality of random events in games like Blackjack to make informed decisions and avoid falling into the trap of the gambler's fallacy.