The Bounded Ending Effect in the Domain of Football Gambling: High Risks Are Not Always Preferred at the End.

Previous research has demonstrated that individuals present increased risk taking at the end of a series of gambles, a phenomenon called the ending effect. By using a large online football gambling data, we attempted to replicate the ending effect and tested the existence of a different pattern of increased risk taking at the ending. The results showed that at the end of a series of football gambles, bettors would take more risks, and options with lower risk would be preferred. In games without the interference of local bettors, the ending effect was found to be stronger than that of games with local bettors. Overall, the results provide evidence for the bounded ending effect. Possible underlying mechanisms of the bounded ending effect are explored.