Impulsivity & In-Play Betting: Why Live Bets Lead to Rash Decisions

It goes without saying that live betting is one of the main allures of online sportsbooks. It is a dynamic gambling form that delivers what most people nowadays crave, which is real-time engagement. Historically, we cannot really pin down an exact year when this wagering genre became globally available, but we have read in some places that this type of betting became a thing on the Web in 2002. Some sources claim a specific Internet bookie as the one that pioneered it, but since we cannot confirm this info, we will leave its name out. We shall just tell you that it was one of the sphere’s first debutants.

Undoubtedly, the chief enticement factor of live betting lies in its ability to immerse bettors in real-time sports action. However, that comes at a price, as this possibility exploits gamblers’ heightened state of emotional arousal, along with multiple psychosocial aspects that define how each bettor can act. The time constraints connected with this gambling form, as live markets are period-specific, can also add pressure on persons to make quick judgments, which may not be super wise. In other words, it can make them fall prey to their impulsive nature.

Impulsivity gets defined as acting without deliberate consideration. That usually occurs in quests for immediate gratification. Below, we go deep into examining impulsivity in live betting by exploring what triggers rash decision-making, the consequences of this, and how to mitigate such behavior.

Understanding Impulsivity in Live Betting

Like with gambling in general, it is connected to dopamine, rooted in the brain’s reward system. Dopamine is a neurotransmitter associated with pleasure and its production spikes in response to anticipation/excitement. For betting fun, impulsivity manifests when bettors prioritize thrill over rational analysis, and this is more pronounced in the live form due to its real-time nature.

Traditional sports betting usually entails careful deliberation, as bettors analyze stats, form, odds, and more before placing a bet. In contrast, in-play betting is a spur-of-the-moment thing. It compresses decision-making into minutes/seconds. For example, in a drone racing event, which some bookies offer for wagering, a bettor might see a racer take a sudden lead and impulsively wager on them to win. Yet, they may have done this while ignoring or not being familiar with the racer’s history of crashing under pressure. The immediacy of live betting amplifies impulsivity. It offers a sense of urgency which gets compounded by the emotional intensity of watching an event live. It is all about the interplay of emotion, reward-seeking, and the pressure to act before the opportunity disappears. The latter links up with the fear of missing out, which we covered in another article here at GOSUBETTING. The Fear of Missing Out, or FOMO, the acronym most used to call this phenomenon, is a strong driver of human behavior, and all gamblers should be familiar with it, as betting sites/apps use it to their advantage, with promos and in other ways. Their platforms have been designed to keep their users engaged, and they do this with flashing odds, notifications, etc.

Why Impulsivity Leads to Rash Decisions

Impulsivity drives rash decisions through a combination of cognitive biases and emotional factors. Those combos distort rational thinking. A cognitive bias we often talk about is overconfidence. That is when a gambler overestimates, with or without proof, their ability to predict outcomes. This is something that largely stems from the illusion of control, as overconfident bettors usually feel they can read the game correctly. Such a belief makes them think they can make quality but quick decisions in real-time. Recency bias affects bettors by making them overreact to the most recent action instead of considering the bigger picture.

Emotionally, impulsivity is fueled by the adrenaline and stress of watching something happen in real-time, where the outcomes are unpredictable and can get influenced by a myriad of factors that spectators cannot control. Emotional reactivity impairs the prefrontal cortex, the section in our brains that controls rational decision-making. Hence, this makes gamblers act on impulse. As you probably know, impulsivity is a significant predictor of problem gambling, and with the constant stimulation of in-play betting, with the mentioned flashing odds, live commentary, and crowd reactions, bettors remain in a heightened emotional state, where they are super likely to act impulsively.

The Cost of Impulsive Live Betting

One bad decision made in the heat of things may not be extremely harmful. Yet, the problem is that individuals that make one impulsive decision are likely to make another. Consequently, the financial fallout of being impulsive and wagering live can be dramatic. Furthermore, things can too get exacerbated by poor bankroll management, a common pitfall for impulsive bettors. Without a pre-set budget, such gamblers are likely to double down on a losing streak. Add to this the accessibility of live betting through mobile apps/sites and how quickly one can make wagers through them – it is easy to see how things can spiral out of control, especially when emotions are high.

How to Try & Manage Impulsivity When Betting Live

It is a combination of preparation, discipline, and self-awareness. You must have these things to be able to counteract the psychological triggers that cause rash decisions. One of the most effective strategies is pre-game preparation. If a bettor has done loads of research, then this creates a mental framework that helps them stay grounded, even when the action gets intense before their eyes.  

Setting limits is another vital step, and this is something that many online sportsbooks offer, such as getting time-out notifications during live events, which force gamblers to reconsider betting in moments when excitement reigns. Pausing to reflect before making a wager is also wise, as this shifts a gambler’s focus to logic and the bigger picture than the opportunities presented at the moment. It is smart to always keep loads of stats on deck, as a data-driven approach to sports betting, for sure, will help counteract the emotional pull of impulsivity.

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