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Betting Decision Under Break-Streak Pattern: Evidence from Casino Gaming
Fong,Lawrence Hoc Nang1; So,Amy Siu Ian1; Law,Rob2
2016-03-01
Source PublicationJournal of Gambling Studies
ISSN1050-5350
Volume32Issue:1Pages:171-185
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.

KeywordBetting Decision Casino Cognitive Bias Gambler’s Fallacy Macao Streak
DOI10.1007/s10899-015-9550-1
URLView the original
Indexed BySSCI
Language英語English
WOS Research AreaSubstance Abuse ; Psychology
WOS SubjectSubstance Abuse ; Psychology, Multidisciplinary
WOS IDWOS:000375403100012
Scopus ID2-s2.0-84974779248
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Citation statistics
Document TypeJournal article
CollectionFaculty of Business Administration
ASIA-PACIFIC ACADEMY OF ECONOMICS AND MANAGEMENT
DEPARTMENT OF INTEGRATED RESORT AND TOURISM MANAGEMENT
Corresponding AuthorFong,Lawrence Hoc Nang
Affiliation1.Faculty of Business Administration,University of Macau,,Taipa,Macao
2.School of Hotel and Tourism Management,The Hong Kong Polytechnic University,,Kowloon,China
First Author AffilicationFaculty of Business Administration
Corresponding Author AffilicationFaculty of Business Administration
Recommended Citation
GB/T 7714
Fong,Lawrence Hoc Nang,So,Amy Siu Ian,Law,Rob. Betting Decision Under Break-Streak Pattern: Evidence from Casino Gaming[J]. Journal of Gambling Studies, 2016, 32(1), 171-185.
APA Fong,Lawrence Hoc Nang., So,Amy Siu Ian., & Law,Rob (2016). Betting Decision Under Break-Streak Pattern: Evidence from Casino Gaming. Journal of Gambling Studies, 32(1), 171-185.
MLA Fong,Lawrence Hoc Nang,et al."Betting Decision Under Break-Streak Pattern: Evidence from Casino Gaming".Journal of Gambling Studies 32.1(2016):171-185.
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