World Cup Cricket Finals-Psychology of Betting

by Dr. Reeja Tharu on  April 2, 2011 at 6:28 PM India Special   - G J E 4
It's here - the World Cup Cricket Finals!

If it is anything to go by the Indo-Pak semi-finals, it is going to be a frenzied affair.
 World Cup Cricket Finals-Psychology of Betting
World Cup Cricket Finals-Psychology of Betting

Both India and Sri Lanka want to take home the cup to honor their retiring legends Sachin Tendulkar and Muthiah Muralidharan respectively although it still remains to be seen as to who will win!

Concurrently, on par with the action on the sports field, the underground betting syndicate is abuzz with excitement on the India-Sri Lanka cricket World Cup final in Mumbai today.

A whopping sum of Rs 50,000 crore (over $11 billion) is at stake over the final take-on between the Asian neighbors.

If the interest shown by the punters are to be taken seriously, India are a clear favorites at 46 paise, as opposed to Sri Lanka's Rs 1.38. In other words, if a person bets one rupee on India and it wins, that person gets his rupee back along with 46 paise. On the other hand, if he bets one rupee on Sri Lanka, and it wins, the person gets back a much bigger amount of Rs 2.38.

Betting had apparently reached an all-time high when India beat Pakistan in the semifinal match at Mohali on Wednesday and found her way into the finals.

The bookies have also placed their bet on an Indian player hitting a ton during the final at 78 paise. Sachin is obviously the safest bet to hit half a ton. The amount could hike substantially depending on the team that wins the toss and elects to bat.

Sports betting is more than just placing a bet and hoping fervently that lady luck favors you. It is clearly a thinking man's game and requires clever maneuvers if only to avoid contributing to the bookies pocket.

 Sports Betting is akin to shark-infested waters and it is important for a Better to be well informed.

Psychology plays a huge role in sports betting as public perception plays a huge role. The betters urge the public to see two teams as equals and influences the public's view of an outcome as opposed to the real outcome. Based on their information regarding a team the odds makers can use two sets of numbers against the betters all through the day and in the meanwhile make a lot of money.

Betting can be very addictive; it is important for the Better to comprehend the difference between what should happen and what can happen.

If a person is going through a winning spree it is important not be carried away and change tactics based on the win, for after all the spree may not last very long. Alternatively, it is important not to lose heart when losing and also not to bet beyond one's means.

Good teams should, in reality, beat the bad ones. But it is necessary to understand that it can work both ways and prepare your mind for it. It is also important to stay neutral all through, not be biased and be easy on emotions.

After all it's the best team that HAS to win...!

Source: Medindia

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