Originally Posted by
gglave
Yes it is, because the counter 'resets' each time you pull the lever on the slot machine...
Exactly..the "Gambler's Fallacy"
The odds reset each time you board the plane, the flying you did before has nothing to do with the flying this time. If it's one in ten thousand, it's one in ten thousand EACH time.
However, casinos understand that the longer you play, the more you stand to lose. This is not because the odds reset, it's because they odds are so unlikely that you tend to lose more than win when you throw the dice more, exposing yourself to their advantage.
Still, in theory you could win every time and they could lose every time. Forever