Psychology of Sports Betting

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Boyd is going to talk about the sports betting psychology. There are many biases in sports betting that exist.

The first bias in the sports betting world is the over influence of authority. Many of these are athletes.

Pavlovian association is another bias. If you be on a team and they always lose, this would fall under that category.

Stressed-chemical induce bias is one that can influence your handicapping if you are making poor choices when being stressed.

Denial is another bias. Do not do what doesn’t help.

Bandwagon effect is a major bias in sports betting. These teams have lines that become inflated and teams will bet on them because they are a popular team.

Recency bias is one that happens a lot in the NFL. Things that happen three years ago do not mean anything.

Availability bias is when you are betting to have action to be able to watch a game.

Questions to ask yourself:

Why is the line moving?
What type of market is it?
Who is moving this line?
What are some key numbers and value to this change?

Category: Sports Betting English

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