When we bet on a horse racing, our brains are more connected than ever. All the emotions that correspond to the act of betting are also associated with several logical reasons, more or less legitimate, that led us to bet on a specific horse or on a specific outcome . But like our emotions, our brains are more fallible than we are often led to believe.
There are several cognitive tendenciesthat can lead us to a wrong decision, many of which are part of the process of choosing, placing, and anticipating a bet. To trust our intuition blindly is, as we know, a poorly responsible way of placing a bet. But if we cannot even allow ourselves to be guided by the logical reasons that determine our decisions, is it even possible to place a bet in a confident and profitable way?
On n the one hand, it is impossible to “turn off” the fallacious cognitive tendencies that coordinate our brain activity, on the other hand it is possible to take into account the psychological aspect when betting. Doing so can help us place bets more reliably and securely, but it is much more difficult than it looks
Whether in the world of horse racing, sports betting, or online poker, one of the most common mistakes made by gamblers is related to their connection with all the facts that pertain to the universe of their bet, but not to their bet on concrete.
Take a simple example. A guy goes to a horse race, and there is a huge buzz in relation to horse X, who is admitted by everyone as a new champion. From the point of view of objective truth, it is irrelevant to the horse X’s success whether or not his reputation off the race track is good. But the bettor can often coordinate his bet according to this buzz. Besides, this is how most of the probabilities are defined at the outset.
On the other hand, if the bettor wishes not to bet on horse X precisely because he does not trust his exacerbated reputation, he is, nevertheless, committing a fallacy. When betting, make sure that your rational opinion is not based on truths merely adjacent to those directly involved in your bet.