Charles Barkley believes in the hot hand fallacy – when it comes to poker, anyway

NBA legend and recreational gambler Charles Barkley is presented with the following hypothetical on ESPN radio: You are winning big at the poker table when a beautiful woman sits down next to you. “Do you stay with the hands or do you leave?”

Barkley: “Bro, gambling is so fickle, I love to gamble, when you on roll, you ride it out, bro. First of all, you don’t even let people sit down with you that you don’t know. I don’t play with random strangers.”

The interview is here.

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  • dan

    Sorry to self-promote here, but I have a new paper showing the hot hand in basketball might really exist (and be of large magnitude) !  despite all the evidence that it’s not there..  It’s r and r at American Statistician now..  Please don’t hesitate to let me know any questions/comments.  Doesn’t mean there’s no hot hand fallacy – just that we can’t say the hot hand in bball is a myth (as in Nudge).  Here’s a link-
    http://people.oregonstate.edu/~stonedan/hothand.pdf

  • mark

    Got to know when to hold em.

  • http://www.doubleglazingbromsgrove.org.uk Double Glazing Bromsgrove

    Of course behavioral finance can’t answer all questions about money and markets, but it ought to be able to explain what happens when hundreds, or hundreds of millions, of people fall prey to the “hot hand” fallacy.

  • http://www.bes.co.uk plumbing

    I guess everyone in control when it comes to gambling they make a point that when they are playing they enjoy and want to take all the money before they can go in these habit.

  • Michael Ryan

    Isn’t this also indicative that Charles Barkley values winning at poker (which I am guessing happens rarely for him) higher than meeting beautiful women (which given that he is a rich, celebrity and former athlete happens frequently) not because he would rather play poker than meet a beautiful woman, but because he can meet beautiful women virtually anytime he wants, but he can rarely win at poker?