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The relationship of the Halo Effect with sports betting

The relationship of the Halo Effect with sports betting
Psychology provides elements that directly relate to a bettor's decisions.
by Academia   |   comments 0

Continuing our articles on the psychology of betting, today we'll talk about a phenomenon called the Halo Effect. It can be perfectly used in the betting world, as it deals with brain behaviors that we easily identify in the decision making of bettors.

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First of all, let's briefly explain what the Halo Effect means, as it must be the first time that many of our readers are aware of its existence. It was created by an American psychologist, and in a very simple and summarized way, it addresses the way we human beings analyze, judge and draw conclusions from a person (or something) based only on some characteristic, profile, stereotype, etc. Thus, we define a person by their way of dressing, speaking, or peculiar tastes, without even knowing them in depth, giving us room to draw extremely hasty and flawed conclusions.

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This type of behavior is noticeable in thousands of players, as most tend to create labels for teams, players and competitions. The judgments that many make are influenced by this information that someday might have some logic, but the market is dynamic, it has extreme ups and downs, and there is no absolute truth when we are evaluating the ability of those who compete, as it changes all the time. Relating some event with projections, even if they are out of date at the moment, are attitudes that our minds and our feelings are able to formalize.
An example of these somewhat disproportionate expectations can be seen in some football clubs or even national teams. Barcelona, ​​having won thousands of titles in recent years, in addition to having the figure of Messi as a reference, even today gains almost invincible status for many bettors, and this can also be seen in the odds of bookmakers. However, the last few seasons show a team that has dropped a lot of performance and is no longer able to build results and campaigns of yesteryear. The Brazilian national team lives from a magical past, where it was the best team among them all, with an extremely winning generation. This image is still maintained by many today, and it is even astonishing when they commit some embarrassment or unimpressive results.
Clinging to past wins or successes is also a way of detracting from the true analysis of a bet's winning possibilities. We are referring to superstars or idols who have won titles in the past, and when they return, whether as a player or even a coach or manager, they receive disproportionate credits to reality. Our brain recovers these memorable moments, to the point of transforming a current bet much more surrounded by mystique than its real expected value.
In the same way as overvaluing any team or player, as we exemplified in the paragraph above, there is the opposite way, where an image of failure or mistrust is created in the face of a poor performance or negative result. Many bettors create barriers in their betting evaluations, simply because they create labels that the brain keeps the image alive, without delving to know if there have been significant changes.
What we can learn from all this is that our minds are extremely powerful, even more so when they act instinctively, but the best choices are not always made. So that you don't have to go through this, or considerably reduce these slips, always look for arguments or evaluations that confront your choices, with objective ideas and data sample surrounded by foundations. In this way, you run away from pre-programmed narratives, both from your brain and from the information channels you read and watch around.

Challenges of a punter in not becoming a victim of his beliefs

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