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After a string of big wins, many players become so confident that they believe they can win every bet, no matter what. This mentality leads to them no longer adhering to their original strategy principles and making rash decisions without analyzing the situation. “Overconfidence” is one of the main reasons why many people lose big despite having won big in the past.

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Odds on TV competitions can vary greatly, with competitions with strong contenders having low odds on potential winners. Payouts can range from 2:1 to 8:1.

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In addition, parlay betting is a strategy that offers great profit potential but also comes with high risks. When players choose parlay betting, they will combine multiple bets into a single bet. Although if all bets in a parlay bet win, the player will receive a large reward, but if only one bet loses, the entire bet will be lost. Therefore, players need to choose bets that have a high probability of winning and are not too risky. Keywords such as "combined betting", "parlay betting", or "multiple bets" will help players explore this strategy.