This study explored the inter-relationships among impulsivity, gambling related cognitions, and gambling motivation in community and university student samples. A behavioural measure of gambling was obtained by asking participants to play an online game of roulette. Only outside bets were permitted whereby participants were to bet on the colour of the winning number. Gambling cognitions and motivation, but not impulsivity, were associated with adherence to the gambler’s fallacy. Tracing the sources of specific influences on gambling behaviour may benefit from a framework distinguishing the “hot” (emotional) and “cold” (non-emotional) supporting mechanisms.