Why Does Every Gambler Think THEY Are Right?
Whether you are looking at football, rugby, cricket or crown green bowls, why does ever gambler think that they are right? That they can beat the market and have spotted something which nobody else has picked up on?
The gambling industry is one of the few industries in the world where you are the boss, where you can make your own mind up about some odds being incorrect, and ultimately you can take on a vast array of different risk levels to try and increase your winnings. Prior to the result of the event nobody can be sure what the result will be, they may have a good idea, but for that time between placing your bet and the event finishing you can often drift into that dream zone where your big bet comes home.
While many would argue that the market is not often wrong, there have been times when people have done their homework and spotted a “mis-pricing” on the exchanges or in the bookies. That is not to say that gambling will always pay off, but you can still give yourself a chance if you do manage to spot something before the general market. Using the betting exchanges today it is possible to take you bet at the higher odds and hedge when the market catches on and the odds start to fall - giving yourself the chance of crystallising an arbitrage situation.
Alternatively you may see a participant in a particular event being heavily backed when you think the market is wrong. If you are prepared to take the risk there is big money to be made laying favourites in some races where maybe the form book does not reflect the odds or the weather changes very suddenly.
Ultimately each and every gambler will think that they are right until the event is over, and they can drift into that dream zone when they can imagine bringing home the big outsider winner, or laying the odds on favourite before it was beaten. While reality can bring your dreams crashing down, you can convince yourself that you are right before the truth hits home!
