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I've been thinking lately, is it common that people place bets against whom they support in for example soccer games or presidential elections?

I'm thinking about doing exactly this for the upcoming US presidential elections. I want A to win the election later this year, so I will put my money on B.

A WINS -> I'm happy because A is the new President

A LOSES -> I'm happy because now I have more money to wipe my tears with (joke but you get it :))

EDIT: I made a flowchart to illustrate my point better, I used the US elections as example for this one!

https://i.imgur.com/XODjlGe.png

Yes I do that as well sometimes on soccer, but only on hard games. If my team should get an easy win, I will not waste money betting against them.
If I think it's a hard game, then sometimes I do just that, and get the money as compensation if my team loses xD

YEs, I've done this before. I'm a Dallas Cowboys fan/supporter. I was born and raised in Dallas and have been die hard through the good years and the bad. Last year was a bad year. Very bad. I have never bet against my 'Boys - until last season. It was already apparent early on with all the injuries that it was not looking to be a winning season, so it wasn't too hard to bet against my team.

And as far as the US presidential election, I did the exact same thing you are thinking about doing now four years ago for the last election. I wanted Romney to win, but bet on Obama. This year, I want Trump to win, but will put money on Benghazi Hillary. If Trump wins, awesome. If that crooked fat cow wins, meh, I win some money.

I know some people are loyalists bit most want to win so they pick who they think have the best odds.

Yeah, it's a good thing right? I also want Trump to win, but I'm thinking about placing a couple of hundred on Hillary. :) Ensure happiness!

It seems like you don't get the point ;)

The reason why we place bets on who we don't support is because then whatever happens, you'll still be happy. Your teams wins, you can cheer. Your team loses, you can cheer all the way to the bank, so to speak :)

To each his own, but I am a big fan of this strategy!

No offense to you all but this is a horrible strategy. This is how I think
I want A to win so According to your method I bet B

If A wins I am sad I lost money
If B wins I'm sad my team lost

Soccer is my favorite game for betting and I am doing this practice daily, of course I am happy when I won my bet on my favorite teams but I pick any team as per its recent performance and how its playing lately, my win ratio is not so bad and I am in profit with betting on soccer matches.

That's really a nice strategy and I was thinking about that too. Actually I even was betting like that on Oscar would be winners. This a win-win situation indeed. )

That is if you think about the negative part but if you are a positive person then the OP's way is good. I will personally agree to OP about this but i don't do such bets hehe

Words don't offend me, buddy! :)

This is why you don't bet your life savings on team B. Think like this: "How much am I willing to pay to make my team win?", that amount is what's you're betting.

This is true, but if your team lost and you didn't bet money on the other team, you'd be even more sad. (I mean, money is better than no money, right)

I made a flowchart to better illustrate my point. I used the US elections as example for this one, but obviously it works with anything you like! :)

https://i.imgur.com/XODjlGe.png

I have done this a few times and it kinda sucks lol.

Like in the finals I bet on the cavs to win the series because im a warrior
fan and thought the cavs was good value. But then find myself rooting
against my favorite team and rooting for my win. It then sucked when the
cavs won even though I won the bet.

I felt like a trader to the team and dont recommend it.

I understand you, but think about it this way; The bet was insignificant towards the team, but possibly significant towards your wallet. ;)