In ” Embracing FIFA World Cup: Manipulation Tips Intro“, there was nine psychological effects that can encourage people to increase their willingness to bet. OMG newsletter will be revealing how to actually apply and put it into practice!
Illusion of Control
“…some gamblers believe that they have the knowledge or skill to control the result of these wagering. This shows they have generated an illusion of control, believing that their knowledge or skill can achieve to their desired results. According to studies, as the degree of illusion projects, the chances of gamblers invest grows higher, and more frequent and involvements in all aspects.”
To create an illusion of control in sports betting it’s rather surprisingly simple. Begin with releases of negative or favorable news suggesting the opportunity or threat the team may face during their next match, this illusion will affect the gamblers to believe they are in control.
For example, before 2014 FIFA world cup begun, Deutsche Bank analyzed out a big data and released out the indication of England being the champions of 2014 FIFA World Cup. During the process of this analysis, the subjective concept of “championship reincarnation” was injected. That is to say, despite analysis pointing out team England’s strength was not the most powerful team, but because they subjectively injected “championship reincarnation” as an illusion that affected the results of gambler’s inquiry.
Under such illusion circumstances, as long as there were subtle indications that the final victory of England is quite high, so subconsciously gamblers will most likely be investing.
Gambler’s Misconception of Hot Hand
“When a coin is flipped 5 times in a row, each time it’s been “head”. Which side should the gambler bet for the next flip?”
During 2014 FIFA World Cup England lost 2 games in the first round of the D group and missed out the opportunity of promotion, but as we mentioned above, Deutsche Bank’s big data analysis is a very suitable case of misconception of hot hand as well.
For gamblers who got influenced by Deutsche Bank’s big data analysis, “England was indicated as champions reincarnated during 2014 FIFA World Cup” It wouldn’t matter to them the loses England has already encountered, they will firmly believe a victory will happen soon enough in the next game. This act is simply known as the gambler’s misconception of hot hand.
Cause of Illusion
“Majority of people who wagers on lottery often combine 2 unrelated events as the same cause illusion. A gambler reaches out to God or worships Buddha for prayers or rituals before the gambler wagers”
Though it may sound tacky to reach out to religion and ask for luck, this cause of illusion happens to a lot of gamblers. And here are some simple ways to create this cause of illusion to your customers. Regularly announce the winner’s betting situations, such as betting time, amount, category, and etc. By sharing the actual example of how the winner won, it allows your potential customers to create an association. By doing this it also creates the cause of illusion and probability error.
Self-Serving Bias and Hindsight Bias
“we achieved because of me, and we failed because of other reasons.”
Self- Serving bias and hindsight bias can reinforce and strengthens gambler’s illusion to control, thereby increasing the frequency and amount of wagers.
Some people will conduct a certain degree of research before they wager. Usually, such people already have a certain degree of self-serving bias and hindsight bias; while some people are wagering based on their feelings. When each wager was based on an “objective analysis” and resulting in either win or lose results, over time it can cultivate to self-serving and hindsight bias for gamblers who wager, and this will slowly involve to the illusion of control.
Probability Error
“an important trait of psychological characteristics of humanity to underestimate high-frequency events and overestimate low-frequency events. Traffic accidents occur more frequently than a plane crash, but often people focus their attention towards plane cash more than traffic accidents.”
Announce more frequently of established winner’s, and share their betting experience and circumstances. To create an illusion that “it’s not difficult to win the award” and the effect of causing the probability error will soon influence your potential customers.
Herd Behavior
“Wages tend to be consistent with another individual’s decisions, and they feel reassured when their decisions are based on the same as another individual; otherwise, they will feel un at ease.”
People who act upon their herd behavior are the most desired candidate in gambling. Cause the lack of self-analysis or just simply being too lazy, makes them easily influenced. The opinions of others can easily become their own opinions, therefore the more frequent announcements of previous winner’s experience or what item to invest in, and how much are the majority people wagering, the effect it brings to people with herd behavior will surprise you!
Winning Association
“winning association can strengthen the willingness to bet and slow down the sense of loss after a failure occurs”
The most accessible way of creating a winning association is to give an example of “what kind of life someone is having after winning the grand prize” Or simply put valuable products on websites or stores to remind them the grand prize they can immediately own, if only they win the grand prize.
Near Miss
“Near miss is a type of psychological state which generates regrets and excitement by a near success of failure, and it is a critical psychological mechanism that motivates people to continue wagering.”
The mentality of near miss is triggered by the inner self-control of gamblers when results of the grand prizes are confirmed, a simple email or text through an automatic system to send an announcement of telling potential customers what he or she have missed out.
Sunk Cost Effect
“when someone invests a lot of money in a project, they will not easily withdraw and have the tendency to continue investing until it gains profit.”
Nowadays due to the advanced development of the back-end system, there will be a record of players invested information, put in some time to remind the player of how much investment the player has lost, by this you can trigger the sunk cost effect. As long as the gamblers are not too rational, this could influence them.
