How Loss Aversion Affects Your Betting
Loss aversion plays a significant role in betting decisions. People tend to feel the pain of losing more intensely than ... Continue...
Loss aversion plays a significant role in betting decisions. People tend to feel the pain of losing more intensely than the pleasure of winning. This psychological bias can lead bettors to make irrational choices, such as chasing losses or avoiding bets with favourable odds. Research shows that most individuals have a loss aversion ratio between 1.5 and 2.5. This means they view a loss as…
