Why Do Most Bettors Lose?
Scott Morris | July 24, 2016
When you spend enough time around the sports betting world you will eventually hear an old saying that you never see a bookmaker who is poor. That comes from the fact that is widely accepted – bookmakers over the long haul always win.
Most of the bookmakers indeed make respectable profits, while the truth is most people betting on sports lose overall.
Some believe that is due to bookmakers making it next to impossible to win by always making sure their odds are in their favor.
However, this is not really the case. Bookmakers hold an advantage over the bettor but the advantage is not why most people who bet on sports ending up losing.
The advantage of the bookmaker is they set the lines and odds. They charge a commission in doing so, which is basically what it costs to use their betting service.
The three biggest reasons bettors end up losing money is they do not manage money properly, they bet for the wrong reasons and too often.
Certainties are few and far between in sports betting. However, one thing is certain; the final results of a game do not always end up the way the bettor expects. That is why money management is so important in order to handle the wins and the losses and still have money to use.
For instance bad money management can include chasing losses, placing crazy bets following a good win, giving the profit back to the house or risking too much on the “sure” thing that does not come through.
Do not bet for the wrong reasons. At the top of that list is do not bet on sentiment or emotion or just on the odds. Emotion and sentiment is an easy way to lose, as you do not see the true trends just the love for a particular team.
Do not bet too often. Success in betting is not about picking the most winners possible. Success comes from identifying the correct opportunities to support your own judgment. In other words, be selective.
Think smaller opportunities and not high volume when it comes to making your wagers. That will give up the best opportunity to come out on top more often than not.
