As a gambler, have you ever felt this kind of mentality? That is, let's say in sports betting, wherein you bet on the long shot or a huge underdog but at the back of your mind, you thought that you will not win, but there is still small hope inside of you that this could be a life changing and so you go and bet with your close eyes. And this could be just you are relying on your luck and nothing more and that it could also be bad for us gamblers in the long run. But then again, we love to take risk and so maybe there will be some of us who might be already have this in mind as a kind of "strategy" and they could have won money already. Are you that type of gambler that has kind of mentality? It could be that is obviously flawed in the beginning so there could be gamblers that are now willing, or maybe as I have said, we might have been using it already but we just didn't know.
I do this style of betting but not always. Betting on the underdog is really like betting on a lottery so whenever I do it, I don't expect for any returns.
It's dangerous to always have that mindset in gambling and you're surely bound to lose money if you will only rely on your luck. I know we should not take gambling seriously but having a strategy could at least help us to reduce our loss.
It's possible to have a certain level of confidence when betting on the underdogs sometimes but this is only when your analysis shows you that they are in form. I remember times that I placed a bet on the underdogs after checking head to head and statistics. This gives me a little idea that the underdogs has a chance of dominating the game. Betting isn't always about the odds, sometimes you can miss opportunities when you always consider the odds