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Reluctance to wager towards (hedge) wanted results.[46] Consumers are reluctant to guess in opposition to preferred results that happen to be suitable for their id. Gamblers exhibit reluctance to wager from the results of their preferred U.S. presidential candidates and Important League Baseball, Countrywide Football League, National Collegiate Athletic Affiliation (NCAA) basketball, and NCAA hockey teams. More than forty five% of NCAA followers in Research 5 and 6, for instance, turned down a "free" true $5 guess towards their crew. From a psychological standpoint, this kind of "hedge" results in an interdependence dilemma—a motivational conflict concerning a brief-term monetary attain along with the prolonged-term Added benefits accrued from inner thoughts of identification with and loyalty to a posture, man or woman, or group whom the bettor desires to thrive.
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Parimutuel wagers pay back at prices determined by help in the wagering swimming pools, while bookmakers pay off both at the percentages provided at time of accepting the wager; or in the median odds made available from track bookmakers at time the race started off. Sports betting[edit]
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Bettors are inclined to prefer to guess on favorites in athletic competitions, and at times will settle for even bets on favorites when provided much more favorable bets to the less likely consequence (e.g., an underdog crew).[47]