Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/61706
Title: Betting decision under break-streak pattern : evidence from casino gaming
Authors: Fong, LHN
So, ASI
Law, R 
Keywords: Betting decision
Casino
Cognitive bias
Gambler’s fallacy
Macao
Streak
Issue Date: 2016
Publisher: Springer
Source: Journal of gambling studies, 2016, v. 32, no. 1, p. 171-185 How to cite?
Journal: Journal of gambling studies 
Abstract: Cognitive bias is prevalent among gamblers, especially those with gambling problems. Grounded in the heuristics theories, this study contributes to the literature by examining a cognitive bias triggered by the break streak pattern in the casino setting. We postulate that gamblers tend to bet on the latest outcome when there is a break-streak pattern. Moreover, three determinants of the betting decision under break-streak pattern, including the streak length of the alternative outcome, the frequency of the latest outcome, and gender, were identified and examined in this study. A non-participatory observational study was conducted among the Cussec gamblers in a casino in Macao. An analysis of 1229 bets confirms our postulation, particularly when the streak of the alternative outcome is long, the latest outcome is frequent, and the gamblers are females. The findings provide meaningful implications for casino management and public policymakers regarding the minimization of gambling harm.
URI: http://hdl.handle.net/10397/61706
ISSN: 1050-5350 (print)
1573-3602 (online)
DOI: 10.1007/s10899-015-9550-1
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