Biased Betting

This is probably a post that I should have written well before now, but better late than never. Biased betting is not smart. Frankly many people are blinded by their pride and respect for their favorite team that sometimes they don’t realize it is not the way to go. I totally understand what being a fan entails, and that a fan has faith in their team no matter what, but if your team sucks they will lose you money … bottom line.

The only reason I, or anyone for that matter, makes a wager is to win money. When a bettor is making decisions and analyzing games they must have an objective mindset. This means that all bias must be set aside and the bettor must look at the facts. When you start betting with your heart instead of your head you need to stop and re-evaluate your situation.

I have a friend, who has given me permission to use this example, that recently lost a big chunk of change on the Chargers, Raiders game last night. First of all I’d like to make it clear that if he had read my previous post this never would’ve happened because the Raiders won, therefore covered, but that’s neither here nor there. As you probably guessed my friend is a Chargers fan and he bet on them. This was a terrible move because he was blinded by his adoration for his team and he could not make the smart decision to take the other team, or simply stay away from betting that game. When you have a bias towards a particular team, good or bad, my advice is to not even mess with the game. If you are able to take emotion out of the situation you will give yourself a much better chance at winning.

I’m not saying it is bad to bet on your favorite team; just make sure it is the smart pick. And if your team is terrible, be smart and take whoever they’re playing. It won’t hurt as bad when your team loses, and you can be happy with them because they won you money.

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