Hot-hand Fallacy
Etymology
The name comes from basketball, where a player sinking several shots is said to have a "hot hand." Psychologists Thomas Gilovich, Robert Vallone, and Amos Tversky named the fallacy in a 1985 study; later work has kept the debate over whether streaks are wholly illusory very much alive.
noun phrase · /HOT-hand FAL-uh-see/
The belief that a run of successes makes further success more likely, when the odds haven’t changed.
What it names
The gambler’s optimistic twin — the conviction that someone "on a streak" is due to keep winning.
Example
Betting bigger because the roulette wheel "was hot" is the hot-hand fallacy dressed up as a system.
Related idea
The hot-hand fallacy expects a streak to continue; the gambler’s fallacy expects it to reverse — opposite errors from the same misreading of chance.