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Apr 253 min read
The Monty Hall problem
Learn what is the Monty Hall problem. Knowing when the odds are against you. The challenge of selecting one favourable outcome. The solution
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Apr 173 min read
Price elasticity of demand and favourite-longshot bias
Learn what is the price elasticity of demand and favourite-longshot bias. How do they affect betting and airlines.
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Apr 164 min read
Understanding the Halo Effect
- The Halo Effect - Lessons to learn - Are betting judgements biased? How bettors make lazy judgements The Halo Effect Most folks tend to...
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Mar 293 min read
The illusion of control
- The need for control - The Influence of personal choice - Dangerous information and near misses Guarding Against the Dangers of...
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Mar 273 min read
Why patience is an essential trait for any serious bettor
- Why do bettors need to be patient? - Understanding the influence of cognitive biases - How can patience help us make rational...
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Mar 265 min read
Why it pays to be wrong in betting
- Right and wrong isn’t as simple as you think - Accepting the inevitable in betting - Understanding your weaknesses - Getting things...
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Mar 254 min read
Why do we gamble? Irrational and overconfidence
- Is gambling irrational? - How does overconfidence influence betting decisions? - Can both the buyer and seller get a good deal? For...
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Mar 206 min read
What type of bettor are you?
- Do you set your own odds? - Are you someone who trusts the market? - Could you have the right approach but wrong execution? - Do you...
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Mar 183 min read
What is the Gambler's Fallacy?
- What is expected deviation in betting? - Learn how to apply the law of large numbers to betting - The nine-toss example The Gambler's...
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Mar 133 min read
What distinguishes winning from losing bettors?
- Initial odds setting - Understanding positive expected value - The importance of beating the closing odds - The example of Chelsea...
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