Do (Australian) jockeys have hot hands?
Posted on 2019-11-03 - 13:06
We extend the empirical analysis of hot hands in sports to horse racing, using the winning streaks of a sample of jockeys riding in Australia. Grouping jockeys by strike rate (win percentage), we find evidence of hot hands across almost all strike rates. But considering jockeys individually, only a minority exhibit hot hands. A wagering strategy based on hot hands yields a negative return overall and for most hot hand jockeys, although some do yield a positive return. We conclude that hot hands are present but not ubiquitous and that this is generally recognised in the betting market.
JEL Classification: C53, D81, D84
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Wrathall, Robert; Falvey, Rod; Rajaguru, Gulasekaran (2019). Do (Australian) jockeys have hot hands?. SAGE Journals. Collection. https://doi.org/10.25384/SAGE.c.4723193.v1
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AUTHORS (3)
RW
Robert Wrathall
RF
Rod Falvey
GR
Gulasekaran Rajaguru