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Psychological Factors: Public sentiment can impact the performance and motivation of athletes. If a team or player is heavily favored by the public, they may experience added pressure to perform, which can sometimes lead to underperformance due to stress or anxiety. On the other hand, underdogs who are underestimated by the public may feel motivated to prove themselves and perform better than expected.
Betting Volume and Market Efficiency: Public sentiment can also influence the overall betting volume on a particular event. If there is a significant amount of public sentiment favoring one side, it can result in a disproportionate amount of bets being placed on that side. This can impact the market efficiency, as the odds may become less reflective of the true probabilities if they are influenced solely by public sentiment rather than expert analysis or statistical models.
How does public sentiment affect sports betting outcomes?
Betting Volume and Market Efficiency: Public sentiment can also influence the overall betting volume on a particular event. If there is a significant amount of public sentiment favoring one side, it can result in a disproportionate amount of bets being placed on that side. This can impact the market efficiency, as the odds may become less reflective of the true probabilities if they are influenced solely by public sentiment rather than expert analysis or statistical models.
How does public sentiment affect sports betting outcomes?