The effect of confirmation bias in sports betting
A lot of factors are taken into consideration when betting. Some of them are connected with sports aspects, like the knowledge of discipline and players, whose matches we want to bet on. Some of them are purely psychological, and they are just as important, if not more.
In sports as well as in top level betting (and that’s the only level we’re interested in) a key role is filled by psychological aspect. One of the most interesting concepts, and at the same time most committed by punters error is so called confirmation bias. What is it, and how does it affect our predictions? Let us explain.