Question: Is it true that betting on the favorite always leads to losses?
The favorite-longshot bias in sports betting, where bettors overbet longshots and underbet favorites, has been widely examined across various…
Question: How do bettors calculate their edge in betting markets?
Bettors assess their edge in betting markets by applying financial and statistical techniques to identify profitable opportunities. Markowitz…
Question: What biases lead bettors to overvalue recent performance?
Research indicates that cognitive biases significantly influence bettors in sports gambling markets, leading to suboptimal decision-making and…