Do (Australian) jockeys have hot hands?

Robert Wrathall, Rodney Falvey and Gulasekaran Rajaguru ()

Australian Journal of Management, 2020, vol. 45, issue 2, 223-239

Abstract: 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

Keywords: Bootstrapping; hot hands; jockeys; thoroughbred horse racing (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:45:y:2020:i:2:p:223-239

DOI: 10.1177/0312896219883675

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