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Expected Value and Betting Psychology

  • 18-06-2006 9:28pm
    #1
    Robin1982
    Closed Accounts Posts: 323 ✭✭


    There are many betting tips on this forum but not much discussion on betting strategy.

    If you would like to listen to a basic introduction of expected value and betting psychology (and perhaps a lot more on the public's mis-evaluation of judging value), please follow the below link to an embedded MP3 presentation by Harvard psychology professor Daniel Gilbert. It's quite long (about 30 mins) but perhaps some may enjoy it and get some new ideas.

    Daniel Gilbert - Betting Psychology


Comments

  • #2
    masterK
    Registered Users, Registered Users 2 Posts: 2,757 ✭✭✭masterK


    I'll definitely have a listen when I get a chance.

    You are correct there is very little discussion of betting strategies on value on this forum. It's probably true of most punters in general. Very few people actually consider what the price of a horse should be before backing it, they back the horse they thing will win a race regardless of whether it's value or not.

    An even more critical mistake is that a lot of punters have no betting strategy, they put the same amount on every horse they back regardless of it's price, how strongly the fancy it etc.


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