Why Psychology Matters
Betting isn’t just about numbers — it’s about mindset. Cognitive biases and emotional swings can sabotage even the best strategies. Understanding your psychological triggers is key to long-term success.
Common Biases
- Gambler’s Fallacy: Believing a horse is “due” after losses
- Confirmation Bias: Ignoring data that contradicts your gut
- Sunk Cost Fallacy: Chasing losses to “make it back”
- Overconfidence Bias: Overestimating your ability after a few wins
Emotional Discipline
- Set rules before betting
- Avoid betting under stress or after losses
- Track your mood and decisions to spot patterns
- Use a betting journal to reflect on outcomes
Australian Insights
- 70% of young male sports bettors are at risk of gambling harm
- 64% bet while drinking, increasing impulsivity
- Promotions often create a false sense of “no-risk” betting
Please remember to gamble responsibly. Need help? Contact Gambling Help Online or 1800 858 858.