O2 sensor question

hi,
Hope someone can help. Ive been told that running with no o2 sensor will cause the car to run lean. Does any one know what would happen if the car had the o2 sensor plugged in but not in the exhaust? Would it run rich?

I'm not running any cat converters and the car is for racing so I'm guessing running rich would be better than lean. I cant really run a o2 sensor in the original position as it will end up smashed off.

Any help would be appreciated.
Thanks.
 
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