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A common strategy when participating in sports betting is to thoroughly research the teams, players, and playing conditions. For example, when betting on football, players need to know the current form of the team, the injury situation, the history of the match, and external factors such as the weather or the field. From there, players can make smart and reasonable betting decisions.

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When a player has lost a large amount of money, he or she sometimes feels as though he or she has no choice but to continue betting to recoup what he or she has lost. This mentality, also known as “loss aversion,” causes the player to continue betting blindly and without thinking about the risks. This creates a cycle of “losing again and again” that the player cannot escape.