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Betting Psychology

The Favourite-Longshot Bias

Betting on long odds or short priced favourites

One of the best accepted phenomena in betting is the favourite-longshot bias, where bettors undervalue favourites and overvalue ‘longshots’. Yet, whilst many in the betting industry are aware of the favourite-longshot bias, working out exactly why this occurs is less clear. 60 years of academic analysis has yet to get …

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Do Punters Back their Team Despite Worse Odds?


The rise of sports betting apps means that punters are increasingly deciding that sports betting is both a smarter and more convenient pastime than low return pokies or horse racing. But beyond that, the thrill you get from winning bet on a team you support cannot quite be matched by …

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