The mass opinion plays a significant role in the sports betting markets. The atmosphere of the crowd may influence odds on websites like Score8 where thousands of punters are betting and in some instances, in excess of the probability of an event. You can find out about the bias that exists in people and how to exploit it and then you can find value bets that the recreational players will not notice.
What is Sports Public Bias?
The case of public bias is where most of the bettors are on a particular side of the result or a particular team and this causes the odds to swing in that direction. This is particularly prevalent when it comes to high profile teams or players who have a large following. As an example, consider football teams such as Manchester United or basketball teams such as Los Angeles Lakers: there is a lot of betting on them merely because they are popular despite the fact that they are not in good current form. The more these teams are supported, the less their chances and in most cases, the value is on the contrary.
Contrary Betting
Public bias does not imply betting against popular teams but when there is over-pricing of a team due to the hype. This is one of the tips that you can add to your research: ensure that the underdog is a real value by reviewing the team shape, past results, and other important statistics. This works best in high profile games such as in the Premier League derbies or NBA playoffs where the atmosphere of the people is the most evident. It requires a disciplined approach to ignore the noise.
The Opportunities in Public Prejudice
When one side has a lot of money, the sportsbooks adjust the odds to balance action. This means that the less favored side may be offered inflated odds, which is an opportunity to make money by smart bettors. To illustrate, when the general betting community is putting a lot of money down on Manchester United to win a match in the Premier League, the odds on the other team may be increased beyond the true odds, creating a betting opportunity to those who are willing to bet against the crowd.
The Bias in Score8 The People
The occurrence of the public bias can be determined by noting the sharp movements in odds or very one-sided betting patterns. When the odds on a favorite change drastically with little news (injuries or personnel changes), it is normally the work of the square money and not the betting expertise. Score8 has a live odds feature that will enable you to monitor the live changes in order to make informed decisions on when to place a bet.
Final Thoughts
The sports betting markets are not always the perfect mirror of reality; they are subject to human nature. When you understand that the mass opinion has distorted the odds, you can get a value that is not evident to the average punter. In the case of Score8, being objective and betting on data, as opposed to hype can give you an advantage and enable you to find profitable opportunities on a consistent basis.