How NOT to bet during the World Cup, according to behavioral science

Wanna bet? If the answer is yes, then you may be better off putting money down on your rival team.

The FIFA World Cup, which kicks off Thursday, is a busy time for betting markets. During the 2014 World Cup, betting analysts estimated that British gamblers wagered more than 1 billion pounds ($1.6 billion), setting a record for the biggest betting event in the country’s history.

Those looking to get into the action this time around, when Germany is a favorite to defend its 2014 win, should heed the advice of behavioral scientists — lest they find themselves losing money because of certain psychological biases.

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