How to Avoid Confirmation Bias in Sports Betting

The following post explores how to avoid confirmation bias in sports betting.

Falling prey to confirmation bias is a costly mistake made by many sports bettors. By taking time to understand what confirmation bias is, you’re better equipped to avoid it.

Read: Pitfalls of Buying Sports Betting Picks

Related: How to Use Flat Betting For Wagering Success

Confirmation bias is a common issue for many losing sports bettors. Whether knowingly or unknowingly, many sports bettors fall prey to this trap. The good news is, it’s avoidable.

Here’s what you need to know about confirmation bias.

Definition

Confirmation bias is when a sports bettor selectively favors information that supports an existing belief or opinions while ignoring or downplaying contradictory evidence.

Example

Imagine the Vegas Golden Knights are hosting the Arizona Coyotes. You’ve won 5 straight bets on VGK and feel they can’t lose. Now that you’re emotionally invested in VGK, you may disregard info that suggests the Coyotes are a live dog.

Being emotionally attached to the Golden Knights is a potential example of confirmation bias. Your desire to ride the momentum of winning may lead to selectively focusing on information that supports your belief in VGK’s success.

Learning Lessons

Awareness is the first step to mitigating confirmation bias. Now that you realize your own susceptibility to confirmation bias, it’s wise to actively seek out information that challenges your initial opinions.

In Conclusion

The key takeaway here is to avoid falling in love any particular team or bet. It’s risky business. Remember to be objective in your research and don’t succumb to your emotional impulses.