The impact of near-miss events on betting behavior: An examination of casino rapid roulette play
Abstract
We examine how almost winning in roulette affects subsequent betting behavior. Our main finding is heterogeneity in gambler behavior with some gamblers less likely to bet on numbers that were near misses on the prior spin and other gamblers more likely to bet on near miss numbers. Using a unique data set from the game rapid roulette, we model the likelihood of a gambler betting on a near miss number while controlling for the favorite number bias...
Paper Details
Title
The impact of near-miss events on betting behavior: An examination of casino rapid roulette play
Published Date
Nov 1, 2012
Journal
Volume
7
Issue
6
Pages
768 - 778
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