Why Do Most Sports Bettors Lose?

Why Do Most Sports Bettors Lose?

Sports betting has become a big rage among sports lovers. Several countries have legalized sports betting. The punters have got uncountable betting interfaces in the form of websites and apps too. They also have calculators of various kinds in place. Considering all these pluses, bettors must be making a lot of money. However, the reverse is true. Let’s explore the reasons why sports bettors lose so often.

Gambling Only For Fun

A majority of sports bettors don’t proceed with a sincere approach. They bet just for fun, without any concrete strategy in mind. Sometimes, they bet only to check how the betting interfaces work. It is said that about 80% of bettors have never read about the sport as thoroughly as needed for intelligent betting. They have just woken up to the idea of trying a betting site or betting on the sport and start staking money. They do so, thinking that betting is all about luck. Also, the idea of free bets or bonus bets served by the betting sites acts as a big bait. Bettors give in to the temptation of freebies and start betting.

Little Knowledge Of Sports Or Its History

Football Betting tips sites collectively create an alluring situation. These sites make the betting process look like a two-step process, which comprises buying the tip and reaching the betting site to choose and bet upon the odd as predicted. The betting prediction records drive the thinking of betting beginners to assume that tips are a shortcut to success and that they need no learn about the sport or tournament history. Betting with this mindset often leads to loss.

Limited Time Available For Research

Not all bettors are professional or engaged in betting activity full-time. Their pre-occupations don’t allow them to research thoroughly. Also, growing responsibilities on the other front stop people from keeping a close eye on the sport and events surrounding it. Thus, due to limited knowledge acquired, they end up making wrong decisions. Bettors picking up speculating activities after a gap or sometimes out of whims is a common sight. They restrict their involvement to weekends only and rush to today’s match predictions, and bet in a hush. Such an approach works when you are bestowed with the brightest luck.

Is House Advantage The Reason Behind Bettors’ Loss?

Betting sites take significant advantage of the whimsical approach of bettors. They offer the best possible welcome environment to the bettors and allure them into betting consistently. But, the fact that betting sites have a house advantage at play is not made so explicit. House advantage means that betting sites enjoy an edge to themselves while offering an odd. It is similar to the margin calculated before putting a price on the product. Thus, odds may look inflated sometimes. If the bettor has little knowledge of the odds calculation, he may not catch this edge and over-stake the bet.

Poor Understanding Of Odds

Odds calculation requires proficiency in probability, statistical analysis, data crunching, and a deeper understanding of mathematical calculation. The bettors need to ascertain the team’s strength and numbers of matches to be played, and chances of winning or losing, etc., to calculate odds correctly. The fact prevails that not all bettors are calculation nerds. The inability to calculate odds by themselves and depend too much on the betting tipster advice results in a flawed assessment. It leads to losses ultimately.

Tendency To Stick To One Bookmaker

Loyalty never pays in a betting scene. Since being loyal does not have legal implications, people don’t find it wrong to be loyal. They tend to stick to one team wishing it to win. And, they also stick to one bookmaker due to familiarity with the interface. Thus, they miss the chances of having better odds in their kitty. With only one bookmaker to bank upon, they miss the chance of availing better promotion deals too. Thus, shopping around for bookmakers and having 3-4 on the radar is something bettors should do to register more wins.

Summing Up

Most sports bettors lose; it is a reality. Poor intuition, bad luck, giving into temptation, and weak knowledge of the sport are the main culprits. The percentage of losers is so high that people sometimes choose to bet against the trend. To top it all, the tendency to chase the loss also results in more losses.