The house-money effect applies to online sports gambling, as a new study measured how much bettors raise their stakes after a win.
“On days following a win, bettors also increase the size of their stakes by 41.1%, suggesting a house-money effect in which recent gains are perceived as disposable,” wrote researchers.
The Australian paper, published in February 2026, comes from Kristle Romero Cortés, Sally Gainsbury, Robert Heirene, Mandeep Singh, and Susan Thorp.
Wins More Likely to Bring You Back
Sports bettors are 7.8% more likely to bet the day after a win compared to days without betting. In contrast, bettors are 6.4% more likely to bet the next day following a loss compared to days with no bets.
A day of betting makes it more…