Trial 1 路 Mile

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All in stakes everything you have. If this race loses, the session ends for good. That single irreversible decision is one of the things this study measures.
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Method and fairness

The engine 路 Is it fair 路 The experiment

What decides who wins

Every horse has six hidden ratings: top speed, acceleration, stamina, consistency, late finish, and quick start. When you press race, a small physics-style simulation runs behind the scenes. Each horse gets a performance score built from its ratings plus a random draw of luck, and the fastest finishing time wins.

The winner is decided by that simulation the instant you press the button. The horses on screen are just replaying a result that already happened, so nothing in the animation changes the outcome.

The maths, step by step

  • Rating. Each of the six attributes is multiplied by a weight for the current distance, summed, and the horse's current form is added. That is the base rating.
  • Luck. A random number from a normal distribution is added. Consistent horses get a narrower spread, so they stay near their true ability; shakier horses get a wider one.
  • Finish time. Rating plus luck becomes a finishing time. Lowest time wins, second lowest is second, and so on.

Because the luck term is real but bounded, the best horse does not always win. Over many races the strong horses win more often, but any single race can go to an outsider. That property is what makes the odds meaningful.

How distance changes things

Distance changes the weights. In a sprint, speed and acceleration dominate and stamina barely counts. In a marathon, stamina and a strong late finish matter far more. A horse that is unbeatable over a sprint can fade over a longer trip, so switching distance genuinely reshuffles the favourite.

Where the odds come from

The odds beside each horse are not invented. Before every race the engine runs the same simulation 3,000 times and counts how often each horse wins. That win frequency is the horse's true probability. The payout shown is the fair payout for that probability, reduced by a fixed house margin (next tab).

Reading the field

Each lane shows the horse's name, its live odds, and a form arrow (Up, Even, or Down). Form is a small hidden value that drifts over time, like an animal having a good or bad patch, and it nudges the rating. The picks below also carry a small value tag when the offered price beats what a rational bettor should accept and a trap tag when it does not, so the honest expected-value read is always in front of you.

Is the game random and fair

Yes, and here is how. Randomness comes from a seeded pseudo-random generator. Each race is seeded from the clock and the trial count, so every race gets a fresh, unpredictable draw. The same maths runs for every horse, including the one you backed. The engine never looks at your bet before deciding the result.

The house margin, stated plainly

Real betting is not a fair coin flip, and this game copies that honestly instead of hiding it. If a horse truly wins one race in four, a fair payout would be four times your stake. This game pays a little less. The shortfall is the house margin.

10%
Margin held back on every bet
3,000
Simulations behind each price

A 10% margin means that, on average, every 100 coins staked returns about 90 over the long run. You can win, and win big, in the short run. But the longer you play, the more the margin grinds the balance down. That is not a bug; it is the single most important thing the game is built to let you feel.

Proof it is calibrated

The bars below compare each horse's true win chance from the simulation with the chance implied by its displayed odds for the current distance. The red mark is the true chance; the green bar is what the odds imply. The odds always imply a slightly higher chance than reality, and that consistent gap is the margin, working exactly as designed.

Green bar = chance implied by the price on offer. Red mark = the real chance from 3,000 simulations. The gap between them is the margin.

The research question

When the odds are shown honestly and the maths is fair within a fixed margin, does a real person still bet the way behavioural economics predicts? A perfectly rational bettor would stake small, back only positive-value prices, ignore what just happened, and treat every coin the same. Decades of research say people do none of that. This project measures how far your play departs from the rational baseline, one testable claim at a time.

Design

This is a within-subject, single-case design. There is no separate control group; instead each hypothesis is a within-person contrast that uses your own trials as their own comparison (for example, your bets after a win versus after a loss). Each race is one trial. For every trial the engine records the decision context before the outcome is known and the choice you made, so the comparisons below are defined in advance rather than fished for afterwards.

Pre-registered hypotheses

H1 路 PROBABILITY WEIGHTING
You will back long shots more than their true chance justifies.
Measure: share of your stake placed on horses whose true win probability is below 20%, compared with the share a stake-matched rational bettor would place. Predicts overweighting of small probabilities.
H2 路 LOSS CHASING
Your bet will grow after a loss and shrink after a win.
Measure: mean stake on the trial immediately after a loss minus mean stake immediately after a win, as a fraction of your balance. A positive gap is the loss-chasing signature.
H3 路 HOUSE MONEY
You will risk more freely when you are ahead than when you are behind.
Measure: mean fraction of balance staked while above your 100-coin starting point minus the same fraction while at or below it. A positive gap is the house-money effect.
H4 路 NEAR-MISS ESCALATION
A photo-finish loss pushes your next bet up more than an ordinary loss does.
Measure: change in stake after a losing photo finish minus change in stake after a clear loss. A positive gap is the near-miss effect.

How each result is judged

Every hypothesis reports the size of its effect in plain units (coins, or a fraction of your balance) alongside the number of trials on each side of the contrast. Because this is one person's data, the report is deliberately careful: it will say supported, reversed, no clear effect, or not enough trials yet, and it never claims statistical significance from a handful of races. Real single-case work needs a run of trials before a pattern means anything, so the report keeps telling you how close you are to that.

Why the game is built this way

Nothing is decorative, and each feature exists to make a hypothesis measurable.

  • Visible honest odds let H1 be tested, because overweighting only means something when the true probability is known and shown.
  • Balance-relative bet sizing lets H2 and H3 separate real risk changes from the fact that a bigger bank invites bigger bets.
  • The photo finish creates genuine near misses, the raw material for H4.
  • The permanent end after an all-in loss turns the gambler's-ruin problem into one irreversible choice, the way it works with money you cannot get back.

The ideas being tested

  • We overweight small chances (H1). People pay too much for a small chance of a big win.
  • Losses hurt more than wins please (H2). Loss aversion is what makes chasing a loss feel reasonable in the moment.
  • House money feels different (H3). Winnings are treated as less "real" and risked more freely, though every coin spends the same.
  • Near misses drive us on (H4). An almost-win fires the reward system close to a win and tends to enlarge the next bet.

Grounded in Kahneman & Tversky, Prospect Theory (1979); Thaler & Johnson on the house-money effect (1990); Reid (1986) and Clark et al. (2009) on near-miss effects; and the classical gambler's-ruin problem.

Ethics and your data

There is no data collection to consent to. The software runs offline in your browser, stores your progress only on this device, and transmits nothing: no names, emails, location, device identifiers, or gameplay. This is educational research by Raman, not a commercial product, and it involves no real money. If real gambling ever stops feeling like a game for you, support is linked from the end-of-session screen.

Close this and keep playing whenever you like. The experiment exists to see how one person really chooses under risk. The game exists so those choices feel real enough to be worth measuring.