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August 18, 2026: Is It Ever Going To Land On Red?
Description
A wheel with no memory convinced an entire room it owed them something, and it cost them millions to find out otherwise.
On the evening of August 18, 1913, a roulette wheel at the Casino de Monte Carlo landed on black 26 consecutive times, and as the streak grew, gamblers bet increasingly large sums on red, certain the streak was overdue to break. It finally did, on the 27th spin, by which point the casino had collected a fortune from a false belief now known as the gambler's fallacy. This episode traces the event itself, introduces the related sunk cost fallacy, and draws a direct line from a 1913 casino floor to the same reasoning errors still driving bad investment and business decisions today.
This is bsnsHistory, the daily podcast about the moments when business quietly reshaped the world.
Written and hosted by Ron Trucks. Research and editing by Rodney Russ. Sound design by Angela Cahoy. Music by Cody Martin and Soundstripe.
For more daily business stories, visit www.bsnsDAILYpodcasts.com