Betting Strategy & Psychology
Why bettors should understand heuristics
Gamblers frequently bet on a feeling or gut instinct. Unfortunately your gut is far more irrational than you might think, utilising ready made rules of thumb – known in psychology as heuristics – which can be unsuitable tools for successful betting.
Learn how free bets work & their drawbacks
When choosing a bookmaker, incentives are especially appealing – but how do free bets work? Unfortunately, a read through of these bookmakers’ terms and conditions show that it’s not just free money.
How to pick a betting tipster and avoid the monkeys
Some bettors defer the betting selection process and use tipsters. Unfortunately, it’s easy to confuse whether a tipster’s track-record shows a statistically significant predictive ability, or just a good run of luck.
What does ‘getting an edge in betting’ really mean?
The fundamental challenge for serious bettors is to gain an advantage over whoever is laying their bet, whether that is a bookmaker, exchange or casino. In betting parlance this is called ‘getting an edge’ and if you want to be a profitable bettor, you need to understand what this means.
How bettors make lazy judgements
Many people bet intuitively. They rely on what they know or feel about a particular team or player to make an on-the-spot assessment of their chances of success.
Knowing when the odds are against you
The Monty Hall problem is a prime example of how, when presented with a seemingly simple choice of potential outcomes for an unknown outcome (like a football match), some bettors display an ignorance of the fundamental mathematical principals.