required reading for the statistician

It seemed as though fate were urging me on. This time, as luck would have it, a circumstance occurred which, however, is fairly frequent in this game [trente et quarante]. Chance favors red, for instance, ten or even fifteen times in succession. I had heard two days before that in the previous week red had turned up twenty-two times in succession; it was something which had never been remembered in roulette, and it was talked of with amazement. Every one, or course, abandoned red at once, and after the tenth time, for instance, scarcely any one dared to stake on it. But none of the experienced players staked on black either. The experienced gambler knows what is meant by this "freak of chance." It would mean that after red had won sixteen times, at the seventeenth time the luck would infallibly fall on black. Novices at play rush to this conclusion in crowds, double and treble their stakes, and loose terribly.

But, noticing that red had turned up seven times running, by strange perversity I staked on it. I am convinced that vanity was half responsible for it; I wanted to impress the spectators by taking a mad risk, and - oh, the strange sensation - I remember distinctly that, quite apart from the promptings of vanity, I was possessed by an intense craving for risk. Perhaps passing through so many sensations my soul was not satisfied but only irritated by them and craved still more sensation - and stronger and stronger ones - till utterly exhausted. And truly I am not lying, if the regulations has allowed me to stake fifty thousand florins at once, I should certainly have staked them. People around shouted that it was madness - that red had won fourteen times already!
- The Gambler, Fyodor Dostoevski