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...research by Juemin Xu and Nigel Harvey at University College, London, just published in Cognition, has shown that in some areas of gambling hot hands do actually exist.

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Juemin Xu and Nigel Harvey, the study’s authors, took a sampling of 569,915 bets taken on an online sports-gambling site and tracked how previous wins and losses affected the probability of wins in the future.

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"Carry On Winning: The Gamblers' Fallacy Creates Hot Hand Effects in Online Gambling," Juemin Xu and Nigel Harvey, Cognition