An emotional hedge is a type of sports bet in which a fan of a certain team bets against the team they are emotionally attached to, so if their team loses, they will win money and feel less bad about it.[1] Some fans who do the bet see it as a win–win,[2] because in each scenario, they either make money (minimizing disappointment) or are pleased to see their team win.[3]
Despite the fact that the emotional hedge guarantees the bettor one positive outcome, it is rarely observed. Optimism bias, in which the probability of a positive outcome is overestimated by an emotionally-driven bettor, plays a part in many people's decision not to make the bet.[4] Many are also reluctant to make the bet because they feel that it is disloyal, that they are essentially betraying their favorite sports team.[5]