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- Title
FALLACY BIAS IN CASINO GAMING: AN OBSERVATIONAL STUDY OF NON-ASIAN AND ASIAN ROULETTE GAMBLERS.
- Authors
Yingkai Min; Sunny Zhenzhen Nong; Hoc Nang Fong, Lawrence; Anise Man Sze Wu
- Abstract
Fallacy bias is salient in gamblers' minds and plays a crucial role in motivating gamblers to bet. The bias stems from people's misconception that independent outcomes are autocorrelated. It makes an indirect but significant contribution to the revenue of casinos. However, from the perspective of corporate social responsibility, casinos should not indulge the bias. To strike the balance, casino practitioners need to understand the triggering factors of fallacy bias and whether the bias varies with gamblers' characteristics. While gamblers' racial difference in fallacy bias remains unknown, this study adopted non-participatory observation and analyzed the bets of 501 non-Asian and 206 Asian Roulette gamblers in an Australian casino. Results showed that non-Asian players had a stronger tendency toward gambler's fallacy than their Asian counterparts. The influences of length and frequency of the latest outcome on the betting decisions did not vary with race. The findings provide useful implications for casino management.
- Subjects
CASINOS; SOCIAL responsibility of business; GAMBLERS; CASINO management; RACE
- Publication
Journal of Gambling Business & Economics, 2022, Vol 15, Issue 1, p25
- ISSN
1751-7990
- Publication type
Article
- DOI
10.5750/jgbe.v15i1.1977