Familiarity, group exposure, and risk-taking behavior in gambling

Abstract

This research studied the effect of familiarity and individual versus group participation on risk-taking behavior in gambling (American roulette). Thirty-eight subjects (21 men and 17 women) were randomly selected and assigned to two experimental groups that gambled either individually or in groups. Results revealed that players bet more heavily as they became more familiar with the game, whether playing alone or in groups.