Like in basketball, gamblers ignore statistics and mistakenly believe they are more likely to win a future bet because they have won previous ones.

FORBES: The Hot Hand Fallacy

My prediction that Sri Lanka are a good bet to win the tournament took a knock when they lost their opening game, and then lost the services of Muttiah Muralitharan.

BBC: Jonathan Agnew column

New Hampshire Gov. John Lynch was considered a safe bet to win re-election to a third two-year term after facing off against Republican Joe Kenney, a state senator.

CNN: Dems win two open governor races, make history in N.C.

In North Dakota, Republican incumbent John Hoeven was considered a safe bet to win his third term by defeating Tim Mathern, a Democratic state senator.

CNN: Dems win two open governor races, make history in N.C.

At the 1920 Derby he tipped outsider Spion Kop to win, earning a big payout from his own bet, and also gifts from punters who'd followed his advice.

BBC: A History of the World

Spectators can also bet on the goats for a chance to win some cash of their own.

BBC: Uganda��s famous goat races

If Mr Cruz goes on to win at the general election in November, and that seems like a safe bet, it will dampen Democratic spirits, which are, in Texas, quite damp as it is.

ECONOMIST: Texas and the tea party

I'm also expecting a decent cup run this season (for no other reason than the fact we're overdue one) and, if you're looking for a daft bet, what about Well skipper and BBC pundit Stephen Craigan to win the European Golden Shoe thanks purely to own-goals?

BBC: Motherwell: season preview

The website Book of Odds determined that picking the higher seed to win every matchup generally the better bet for individual games would result in odds of picking a perfect bracket of one in 35.4 billion.

WSJ: Trying for a Perfect Bracket? Insurers Will Take Those Odds