Betting Decision Under Break-Streak Pattern: Evidence from Casino Gaming

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• 作者：Lawrence Hoc Nang Fong ; Amy Siu Ian So ; Rob Law
• 关键词：Betting decision ; Gambler’s fallacy ; Casino ; Streak ; Cognitive bias ; Macao
• 刊名：Journal of Gambling Studies
• 出版年：2016
• 出版时间：March 2016
• 年：2016
• 卷：32
• 期：1
• 页码：171-185
• 全文大小：654 KB
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• 作者单位：Lawrence Hoc Nang Fong (1)
  Amy Siu Ian So (1)
  Rob Law (2)
  
  1. Faculty of Business Administration, University of Macau, Avenida da Universidade, Taipa, Macau SAR, China
  2. School of Hotel and Tourism Management, The Hong Kong Polytechnic University, 17 Science Museum Road, TST East, Kowloon, Hong Kong SAR, China
  
• 刊物类别：Humanities, Social Sciences and Law
• 刊物主题：Social Sciences
  Sociology
  Community and Environmental Psychology
  Psychiatry
  Economics
  
• 出版者：Springer Netherlands
• ISSN：1573-3602

文摘

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.