There are several bugs in human brain that many people are not aware of. Such bugs lead us to the wrong or random decisions which is really important in betting.
Let me be short. Hope you find this interesting. This is my own article, not a copypaste.
1. "I knew it yesterday". This brain bug makes us all become experts AFTER we know the outcome of the even. If we missed a bet the brain keeps telling us "oh I knew I wanted to bet another team". When we got lucky we overestimate our prior knowledge. This is a game of "Ifs" which leads us nowhere.
2. Overestimation of our control over events. Our brain makes us overestimate our own importance in the specific events. Does the fact that you drive a car make it safer because "you are in control" over flying the plane in a passenger seat? No. But our brain tells YES. It's illogical and wrong but that's how our brains work. Same way in betting if we make a good guess we keep overestimating our knowledge of the game.
3. "Wasted resources must be compensated". This is a common bug where we waste our time and resources instead of accepting the mistake and moving on. We waited 20 minutes during the rain for the bus and we keep wasting more and more time waiting for it while logical decision would be give up and call a cab. Why don't we call taxi? Because the brain tells us "we wasted 20 minutes already and it must be compensated". We keep chasing the losses and keep trying to cover the bad decisions. You bought a useless treadmill that no one uses? No way you throw it away.
4. "Wrong Comparing". You are happy that your salary was increased $100 usd but the moment someone said the boss increased everyone else salary by $200 you become mad. Your betting record seems good but you become mad when you see top capper ratings..
5. "Repetition makes the fact sound true". When we hear some statement that we don't have a knowledge of or a possibility to check ourselves we feel neutral or little skeptic about it. However when we hear it more and more our brain makes us feel "if everyone is saying that this must be true". This is a common bug that makes us make wrong decisions.
This is true especially in betting when someone tells you the fact that is hard to check "Rangers will win for sure coming after a loss in a first game playing at home in a favorite status bla-bla-bla" and the crowd keeps repeating it over and over. The fact can be totally random or untrue but we still accept it as "everyone is saying that". It does not matter how many people believe the world is flat or that Rangers is a sure win. It does not change anything just or perception of the fact.
6. "Double accounting". You come to the cinema and realize you forgot your $25 best row tickets at home. Will you buy the second ticket? No way! Most people become mad and go back in anger. Now imagine you come to the cinema without the pre-paid tickets and realize you have to pay $25 extra for parking. You still pay for parking AND the ticket. The monetary loss is the same $50 but our brains tells us that parking cost is un-related to tickets and can be accepted. The win is a win and the loss is a loss no matter how you shape it.
7. "I did it once. It worked". If something is not working the brain is trying to find the first solution to fix it and then remembers it as a ONLY TRUE solution. Your TV antenna dish is out of order? You remember how you kicked it as a kid and it started working. The brain records that as a the proper solution and if the same situation happens again the first thing we do is kick the damn antenna.
Same in betting. You made a lot of money by betting a specific team last season. Now when the same team plays our brain keeps picturing the thousands of dollars you made last season with this team telling us to bet this team again and again while the coach is fired, the stars left the team long ago and the only thing that is same is the color of jerseys and the team name..
Here is the fresh example when bug#5 killed me. There was a game Capitals vs Panthers few days ago and I heard the phrase "Panthers are coming to Florida just for 1 game and then heading for a new long road trip so their minds will not be with the hockey during that day. They will try to relax and think of the family". Then I heard that pharse again and again on forums and game discussions and finally believed it betting on Caps.. After the game when the Panthers won I have read that in reality the game was very special for Panthers and they HAD to prove they are better and deserve to be a top team this season.. So all these talks about "mind not thinking about hockey" was just a noise..
Let me be short. Hope you find this interesting. This is my own article, not a copypaste.
1. "I knew it yesterday". This brain bug makes us all become experts AFTER we know the outcome of the even. If we missed a bet the brain keeps telling us "oh I knew I wanted to bet another team". When we got lucky we overestimate our prior knowledge. This is a game of "Ifs" which leads us nowhere.
2. Overestimation of our control over events. Our brain makes us overestimate our own importance in the specific events. Does the fact that you drive a car make it safer because "you are in control" over flying the plane in a passenger seat? No. But our brain tells YES. It's illogical and wrong but that's how our brains work.
Same way in betting if we make a good guess we keep overestimating our knowledge of the game.
3. "Wasted resources must be compensated". This is a common bug where we waste our time and resources instead of accepting the mistake and moving on. We waited 20 minutes during the rain for the bus and we keep wasting more and more time waiting for it while logical decision would be give up and call a cab. Why don't we call taxi? Because the brain tells us "we wasted 20 minutes already and it must be compensated". We keep chasing the losses and keep trying to cover the bad decisions. You bought a useless treadmill that no one uses? No way you throw it away.
4. "Wrong Comparing". You are happy that your salary was increased $100 usd but the moment someone said the boss increased everyone else salary by $200 you become mad. Your betting record seems good but you become mad when you see top capper ratings..
5. "Repetition makes the fact sound true". When we hear some statement that we don't have a knowledge of or a possibility to check ourselves we feel neutral or little skeptic about it. However when we hear it more and more our brain makes us feel "if everyone is saying that this must be true". This is a common bug that makes us make wrong decisions.
This is true especially in betting when someone tells you the fact that is hard to check "Rangers will win for sure coming after a loss in a first game playing at home in a favorite status bla-bla-bla" and the crowd keeps repeating it over and over. The fact can be totally random or untrue but we still accept it as "everyone is saying that". It does not matter how many people believe the world is flat or that Rangers is a sure win. It does not change anything just or perception of the fact.
6. "Double accounting". You come to the cinema and realize you forgot your $25 best row tickets at home. Will you buy the second ticket? No way! Most people become mad and go back in anger. Now imagine you come to the cinema without the pre-paid tickets and realize you have to pay $25 extra for parking. You still pay for parking AND the ticket. The monetary loss is the same $50 but our brains tells us that parking cost is un-related to tickets and can be accepted.
The win is a win and the loss is a loss no matter how you shape it.
7. "I did it once. It worked". If something is not working the brain is trying to find the first solution to fix it and then remembers it as a ONLY TRUE solution. Your TV antenna dish is out of order? You remember how you kicked it as a kid and it started working. The brain records that as a the proper solution and if the same situation happens again the first thing we do is kick the damn antenna.
Same in betting. You made a lot of money by betting a specific team last season. Now when the same team plays our brain keeps picturing the thousands of dollars you made last season with this team telling us to bet this team again and again while the coach is fired, the stars left the team long ago and the only thing that is same is the color of jerseys and the team name..
:)
Thanked by
After the game when the Panthers won I have read that in reality the game was very special for Panthers and they HAD to prove they are better and deserve to be a top team this season.. So all these talks about "mind not thinking about hockey" was just a noise..