Tag: BettingStrategy

The Risks of Betting on Emotion: How to Avoid Making Impulsive Decisions

Jude Byrne

Impulsive behavior may manifest itself in spontaneous trips and purchases; for others it could include verbal aggression or risky sexual behaviors. Impulsive decisions by investors can lead to costly buying or selling regrets. Experts share tips for avoiding making such emotional choices in the first place; beginning by recognizing your triggers. 1. Overconfidence Overconfidence bias is a cognitive distortion that frequently plagues professionals and investors, manifesting itself through an exaggerated sense of their abilities, performance, or control which leads to risky decisions. People may demonstrate this bias in various forms…

Read More

How Understanding Cognitive Biases Can Improve Your Betting Strategy

Jude Byrne

Cognitive biases can be hugely damaging to both the decision-making process and how a bankroll is handled; so it’s absolutely essential that we understand them properly, and tailor our expectations on betting strategies to try to prevent these biases from contaminating our work. For example, consider the prevalence of cognitive biases, such as availability bias (recalling information that is readily accessible as being more prevalent), anchoring bias and confirmation bias. Identifying Your Biases Awareness of their biases allowsbettors to make relatively detached analytical assessments, and mitigate to a great extent…

Read More