Question: Why do bettors overestimate the chances of favorites winning?
The favorite-longshot bias is a well-documented trend in sports betting, where bettors tend to place too much money on underdogs while not…
Question: How does the “gambler’s fallacy” affect betting decisions?
The gambler’s fallacy, a common cognitive bias, refers to the erroneous belief that past random events influence future outcomes. This…
Question: How does bet volume affect bookmaker odds adjustments?
Research on bookmaker odds adjustments and betting volume highlights the intricate relationship between market efficiency, bettor behavior,…
Question: What algorithms do bookmakers use to set odds?
Bookmakers rely on sophisticated algorithms and risk management strategies to set odds, ensuring profitability while balancing exposure. They…
Question: How do bookmakers ensure profitability despite sharp bettors?
Bookmakers employ a range of strategies to ensure profitability, particularly by capitalizing on bettor irrationality and market…
Question: What factors contribute to sharp bettors’ long-term success?
Research has found that several key factors contribute to the long-term success of sharp bettors. One important trait is strong statistical…
Question: How do jockey and trainer stats influence betting markets?
Research on jockey and trainer statistics in betting markets provides important insights into the factors shaping market dynamics and the role…
Question: What are the most common cognitive biases in sports betting?
Research highlights that sports bettors are often influenced by a range of cognitive biases, which can distort their decision-making and lead…
Question: Is it possible to profit from betting on underdogs in horse racing?
Research on horse racing betting markets has revealed a persistent favorite-longshot bias, where favorites are underbet and longshots are…
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…