We all like to think of ourselves as reasonable people. When we bet A and not bet B, it seems to us that we are doing so because we have carefully weighed all the pros and cons - odds, probability, etc. - and decided that A has a higher overweight over the line. And if someone asks us why we made such a choice, we will be able to present a whole list of arguments that seem convincing to us.
In fact, sometimes we place bets for reasons that have very little to do with reality. Our brains can provoke us to make choices that seem logical at first glance, but would not withstand closer scrutiny. These traps of the mind are called "cognitive distortions" (systematic errors or stereotyped deviations in thinking) - illusions of perception, and sometimes delusions.
Cognitive biases can seriously harm your well-being if you do it regularly. Fortunately, if you study how they work, you can train your brain to resist them. Here are ten of the most common misconceptions and tips on how to defend against them: