
E48 - Psychology of Betting
Business of Betting Podcast
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The Role of Chance and Skill in Sports Betting
This chapter explores the concept of chance versus skill in sports betting, emphasizing the role of luck and the difficulty of consistently winning. It touches on various biases and fallacies that can affect betting decisions, such as the hot hand fallacy and recency bias. The chapter also discusses the wisdom of the crowds and the efficiency of betting lines.
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