What Drives Melbourne Cup Betting?
You can hold Melbourne Cup betting to be akin to stock markets. The stocks of the stock exchanges are the horses of the Melbourne cup. There is a lot of analysis and research effort that goes into both of them. With researchers trying to evaluate the past performances of both of them in the light of the past circumstances and trying to find the convergences or the divergences in the trends of the future from the trends of the past, there is a definite commonality in the approaches of the researchers in the horse racing betting and the stock market operations.
The rationality plays a dominant role most of the times in placing the Melbourne cup bets on horse racing events. The seasoned punters have their own set of indicative criteria about the chances of winning of a horse in a particular Australian horse racing event. But, it shall also be mentioned in the same breath that the rationality gives way to sentiments or the perceptions of the people who place the Melbourne Cup bets. A vast majority of people are driven by the sentiments, perceptions and their own judgements based on illogical reasoning and lacking depth of analysis. Their intuitive instincts play a dominant role over the rationalist approach. This holds true for the Melbourne Cup betting as well as the stock market operations.
After all, if it were all for the reasoning and the research, the most experienced of the stock market analysts and fund managers would not have gone bankrupt. The same holds true for the horse racing or any other sports betting event, including the Melbourne cup betting. You get one half-baked information and get it circulated in the betting circuits and the result is a fast changing of the odds. Rationality gets kicked out in the moment. The people are more likely to get influenced by their peers or favourite advisors rather than basing their judgements over the researched analysis. They are likely to take split second decisions with an ad-hoc approach.
And, these contradicting influences and the criteria-mix of rationality and irrationality in placing the Melbourne cup bets is perhaps the actual beauty of the wagering in uncertainty. With millions of people wagering in Australia and worldwide, there is no doubt that a very miniscule number are the real professional punters. With so much of time, skills and efforts required to obtain and analyse data, the people engaged in other works have little time for going deep into Melbourne Cup betting. Even the professionals are not very sure about the real outcomes since there are a number of variables in a horse racing event and which one will be more important on the racing day is not easy to judge.
If guess work and probability is what one depends on ultimately, then why to spend time on all that rationality in the Melbourne cup betting? Taking a few tips, listening a few advises, reading the Tote board and placing a Melbourne cup bet within your limits for the sake of fun is what is required to be done. And, this is what drives most of the people into wagering on most of the sporting events.
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