There are many types of bettors out there when it comes to gambling. Some are very thorough with their bets, doing a lot of research or knowing a lot about the sport or event that they are betting on. Others, especially those new to betting, tend to go with their gut and just haven’t quite figured out a strategy for their betting. But those in the latter group tend to fall into some bad trends that hurt their chances of winning their bets.
Placing bets is more than just going to your favorite online casinos and throwing some money on a random team for the heck of it. With the ability to research and find information and statistics, bettors should avoid betting on their gut feeling as much as they can. Let’s explore some of the traps that those who bet with their gut feelings tend to fall into.
Top 4 Reasons Why Listening To Your Gut Is A Bad Idea
1. Oddsmaker Influence
Many who start off betting or don’t have much of a strategy tend to fall into the trap of looking at the odds posted on their platform of choice. They may do research after looking at these odds, but by initially looking at the odds, you have already skewed your own thought process to the line that the oddsmakers give. This is a trap that many fall into and they think they are betting with well-informed feelings, but ultimately, they are duped by the odds.
You can avoid betting with your gut feeling in this situation by doing your research on a possible bet and attempting to handicap the game on your own. This means learning to come up with your own odds and seeing how close to the oddsmaker’s line you might be. If you are a long way off, you might have missed something significant. Look into the match-up before looking at the odds and you will give yourself a better, more educated chance instead of betting on your gut feeling.
2. Recent Performance Bias
The biggest one that a lot of people fall into when they follow their gut is recent performance bias. This might be where a team or player has recently had a string of good performances and therefore you assume that they will continue to perform well. This is especially prevalent with teams who are normally not great teams or players or ran into a series of games where the other team may not have played the best or had some major injuries. Don’t fall for this!
Each matchup should be looked at individually and do not let recent performances influence your bet. This is especially true if it has not been a long-term streak or performance. Take emotional and gut feelings out of the equation and use facts and statistics to point you in the right direction.
3. Doubling Down
When things start to go bad with your bets, don’t try to over justify your initial pick by betting even more money on it. Many bettors fall into this trap when they are live betting during the game or event. They chose a team to cover the spread in the first half and that team bombed, losing their money. It happens, more than we would like to admit. But many who bet with their gut, simply cannot resist the urge to try and win their money back by continuing to bet on the same team that is struggling!
Cut your losses and move on. Don’t try to justify your first-half bet by doubling down in the second half. Chances are, things aren’t going to dramatically get better in a 15 to 20-minute half-time. Cut and run and live to bet another day.
4. Gambler’s Fallacy
Don’t let current statistics affect your current bet. Especially if you are betting the spread. Just because a team has covered the spread in the last five games, doesn’t mean they will keep the streak alive. Take emotion and feelings out of the equation. Look at every bet as its own, independent event that has little to do with any other previous outcome, especially if it is not statistically about the game. Betting statistics and streaks have very little if any correlation to the actual game and performance of the teams.
Anchoring is an unusual term and a unique word that describes your view of a theoretically arbitrary number and how that number affects how you look at the event. Most gamblers will feel attracted to a certain number/some odds or they will at least feel the point of betting in one specific way. You see, the number the oddsmakers set impacts how you view the game. The whole game is set and the mood is dictated from the beginning, leaving you trapped or at least pointed in the ”right” direction.
This is why you should attempt to handicap games before looking at the point spread so that it does not influence your research.
What Are The Pros & Cons Of Gut Instinct Bets, What Choice To Make?
To follow your head or your heart is the question most people wonder about, doesn’t really matter if they’re playing online or in-person casino games. If you plan on listening to your guts you should know that its pros are:
- Listening to your instinct and staying true to yourself
- Knowing a lot of information about the game and following your gut
- Doing a quick analysis that supports your theory
Cons, on the other hand, are:
- You could end up with poor results and an outcome that you weren’t hoping for.
- It is vital to take probability into consideration. Just because something feels right doesn’t mean that it is the best possible outcome in your scenario.
- Gut instinct without knowledge can be useless. The real truth is that betting is a matter of probability, value, and other factors. Your instinct alone cannot detect these things.
Conclusion: How To Play, Win Big & Have A Good Time?
The truth is that listening to your gut instinct can turn you away from losing bets. However, it is always crucial to do your research and find a game that you like and that suits you. Combining a bit of research with a hint of luck is never a bad idea! This is why each player should check out vegasaces.com and enjoy their variety of games! Browse through their table games, poker, slots, bingo, keno, blackjack, or live dealers. You will have a ton of fun, guaranteed, with fast payouts, amazing deals, and variety!