Live betting or in-play betting is an exciting way to engage with sporting events in real time. You can wager as the action unfolds and adjust your strategy based on what’s happening in the game.
In this type of betting, emotional betting or betting based on other people’s views can be a recipe for disaster. Remember, the online betting scene is highly volatile. As such, lack of discipline can lead to behavioural traps and make you lose money. But what exactly is a behavioural trap in betting?
Behavioural Traps in Live Betting: What to Know About It?
A behavioural trap is simply a flawed thinking process that leads to a trap. Being in a behavioural trap is like being stuck in a time loop where repeated actions yield the same results. Think of it this way ─ someone of gambling age loses a bet, then gets angry and continues wagering to regain the lost funds without thinking carefully or adjusting their strategy.
Over time, this rushed action can subconsciously trap the player and become a lifelong habit. Understanding and avoiding these traps can help you stay in control and make smarter decisions during the game.
Common Behavioural Traps in Live Betting
Behavioural traps are often subconscious. Most times, these patterns start small, but they gradually grow. For instance, the frustration you feel after a loss or the confidence surge following a win can influence your next betting decisions.
However, no one wants to be trapped with a toxic and ineffective pattern of behaviour while betting. Moving on, here are some common behavioural traps that can affect you in live betting:
The Chase Trap
This is a classic trap where players try to recover losses by placing increasingly risky bets. During live betting, the fast pace makes it easier to get caught in a spiral of chasing losses without thinking clearly. Just because you’re trying to win back the money you lost doesn’t mean you won’t lose even more.
When you’re in this trap, emotional betting replaces rational thinking. You may end up draining your bankroll faster than you planned. Chasing a loss is like running blind; you are vulnerable to many pitfalls and dangers.
Overconfidence After Winning
Sometimes, when players win their bets, a rush of confidence flows through the body. Confidence is good, but too much can cloud your judgment and expose you to risks. It all starts with a few consecutive wins. Before you know it, you start believing you’re on a winning streak.
Fear of Missing Out (FOMO)
FOMO is everywhere — trading, social systems, and even live betting. As the name implies, it is the fear of missing out on a “winning” bet. The fear causes you to make rushed decisions that can lead to losses.
FOMO exists in different ways, possibly because the odds are changing quickly or other players are betting. But the best part is that it can be avoided. Here are some tips to help you avoid falling into this trap:
- Stick to your betting strategy.
- Don’t follow the crowd blindly.
- Understand that skipping a bet is sometimes the smartest move.
Ignoring Bankroll Management
Setting a budget and sticking to it cannot be overstated. Whether you lose or win, always stick to the plan. Sometimes, players increase their wager just to win more money, which isn’t always bad. You can adjust your budget, but completely ignoring it can cause you to lose more money.
Recency Bias
When it comes to live betting, players often rely on biased thinking rather than research when placing bets. Players give too much relevance to recent events, causing them to lose sight of the bigger picture. Sometimes, bettors place bets on their preferred team even if they aren’t the better team.
Get Out of the Trap: Tips for Staying in Control During Live Betting
It’s easy to get caught up in the moment when you’re betting live. The game is moving fast, odds are shifting, and every play feels like a big chance. But in that rush, it’s also easy to lose track of what you’re doing.
One bad decision leads to another, and before you know it, you’re no longer betting with a clear head. That’s why staying in control is so important. The table below reveals psychological tips to stay in control when you’re in any of these behavioural traps:
| Behavioural Traps | Psychological Tips to Avoid It |
| Chasing Losses | After losing a bet, you need to take a step back from the game to reassess the situation and always stick to the plan. |
| Overconfidence After Winning | Regardless of the outcome of your bets, you need to stay grounded and always set out a clear strategy. This disciplined action gives you a clear mind, allowing you to make better decisions. |
| Fear of Missing Out (FOMO) | Even if the odds are changing or people are betting, you should only bet when you’re informed about the game. |
| Ignoring Bankroll Management | Before placing a bet, you need to set a strict budget — an amount you can afford to lose. Most importantly, always stick to your budget. |
| Recency Bias | You need to separate your emotions from betting. Your bets shouldn’t be based on personal preference or public perception but on logic and facts. |
Conclusion
Many players prefer to bet on live games because of the thrill and excitement. However, betting on live games can invoke negative emotions, leading to repeated patterns or behavioural traps when unchecked. These patterns or traps can lead to loss and frustration.
Thankfully, you can avoid these traps. You just need to correct your mindset, reassess the situation, and create effective betting strategies. Also, you need to separate emotions and hearsay from your bets. Public perceptions can often hinder you from seeing the facts and lead you down a losing path.
