Does betting experience matter in sequential risk taking in horse race wagering?


  • Jani Saastamoinen University of Eastern Finland
  • Niko Suhonen University of Eastern Finland



This paper examines how betting experience is associated with horse race bettors’ sequential risk taking. We use an individual-level data set of 5,217 individual bettors with 167,816 betting-related transactions. Our analyses suggest that inexperienced bettors take on more risk than experienced bettors do after they experience gains. We also find some indication that experienced bettors become more risk averse than inexperienced ones after incurring losses.


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How to Cite

Saastamoinen, J., & Suhonen, N. (2018). Does betting experience matter in sequential risk taking in horse race wagering?. Economics and Business Letters, 7(4), 137–143.