23 Betting Traps

Review of betting psychology is perhaps the best place to start when adopting an intelligent, responsible, and disciplined sports betting method.

Loss aversion

Sunk cost

Losing most of your money

Winning several bets in a row

Superiority trap

Regretting that you did not bet more

“Almost win” trap

Confirmation bias

Hindsight bias

Illusory correlation

Barnum effect

Trend chasing

Availability heuristic

Anchoring trap

Exposure bias

Borrowing money

Being eager to get rich

Promotion from bookmakers

Being tired

After a bad day

Missing a game

Being a “homer” aka betting on favorite teams

Paradox of choice

Betting on 2 sides

Watching game after betting

Teams having no motivations

Gamblers fallacy