...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.


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.


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