Why Do People Go For The Crazy Outside Bets?
While the gambling industry is awash with stories of gamblers wining massive amounts with some of the strangest bets you could ever think of, what actually makes someone take on a seemingly impossible bet? What makes them tick? Do they really think that they can win?
The gambling industry is fairly unique in that for each position that you would like to take, there will probably be someone in the world with an opposite view, someone who will take your bet on. Whether you are looking at a bet about when the first commercial flight will land on the moon, or a forecast of the five winners of each race at Lingfield, what makes someone think they can accurately forecast these events?
There are a number of factors which attract gamblers to seemingly impossible bets which include :-
- Greed. The attractions of that one off large bet which may bring you thousands of pounds is very strong, and the thought of all that money, well, it can turn peoples heads. How many times have you placed a forecast for say three events, thinking it is easy, when in reality it can be difficult forecasting one event!
- Research. As strange as it may sound, many gamblers who go for some of the way out bets will have done their research and maybe found a glimmer of hope which no one else spotted. Take the golf betting coup a few years ago, where a group of gamblers realised that each and every golf event has a hole in one at some stage in each tournament. They took out the relevant bet with a string of book makers, and because the book makers had not done their research they gave them very generous odds - the bets came in and the bookies took a massive hit!
- The thrill. Pure and simple, many people like the thrill and thought that they could be on the end of a massive win, as the first few events drop in to place. Deep in their minds they know it is almost impossible to win, but while the dream is alive the buzz can be amazing.
Gambling means different things to different people, with some happy to take a “dead cert” evens winner, while some are looking for that 3,000 to 1 accumulator which may change their lives. After all it is differing views which make a market, where would we be without them?