Why Sports Betting Should Be Left Off the Field of Play

The news this week is rife with stories of sporting events gone wrong. Whether it’s a last-minute loss in the NFL, a meltdown in the NBA or an embarrassing defeat in the Major League Baseball, fans and bettors alike are reeling at the moment.

In some cases, bad luck has cost fans a great deal of money. Whether it’s a missed long shot in an NFL game or a baseball player getting a bad break at the hands of the baseball gods, people are always quick to point out how they lost money on sports betting. It’s an issue that’s plagued the industry for years, even decades, and many have tried to find a way to make it go away.

But what is it that makes sports betting so devastatingly difficult to win back the money that people lose on a regular basis?

Losing Is All Football And No Football

The biggest issue facing sports bettors is that no matter how good they are at selecting winners, the odds are always in favor of the house. Sure, occasionally a bookmaker will offer fairly favorable odds, but for the most part, teams have a 40% chance of winning against the spread on a regular basis.

This is particularly problematic for sports bettors who pursue wagering on NFL games, where the over-under is usually set very close to the final score. In those situations, a bettor would need to lay down a massive amount of money in order to have a reasonable chance of winning that bet. And even then, most sportsbooks will only allow wagers on certain outcomes for an individual game, meaning that the bettor may not be able to make any wagers at all if he doesn’t fit the requirements for that site.

Bad Beats Happen

To put it simply, whenever a sportsbook loses a bet, it loses money. This means that whenever a sports betting customer loses, the bookmaker makes a profit. The bookmaker’s edge comes from the fact that they can structure their odds so that they appear to be more favorable than they really are. This is why the house always wins in the long run, which is why people are always ending up in financial trouble when they lose big on sports betting. But it doesn’t have to be this way, as the opportunity exists for savvy bettors to beat the house.

One way to do this is to focus on getting good at handicapping individual teams rather than just picking winners at random. This way, you’ll be able to exploit the differences in strength between teams and, as a result, can increase your winning percentage. But it takes some time to figure out exactly which teams are worth wagering on and which to avoid. This is where an experienced handicapper can help, by providing helpful advice on which games to watch and which ones to avoid, as well as which teams to bet on and which to avoid like the plague.

The Imposing Math Reveals The Ultimate Betting Strategy

When it comes to sports betting, the more you wager, the more you lose. For some reason, people seem to forget this basic tenet of probability and instead choose to continue placing wagers they can’t afford to lose, regardless of the fact that these kinds of bets rarely if ever pay off. As a result, bettors find themselves in financial quandary after another painful loss, and the vicious cycle continues.

On the other side of the equation, savvy bettors who use an imposing mathematical formula in conjunction with sophisticated analysis of game data can increase their winning percentage dramatically. Let’s take a look at an example of a perfectly executed wager of a $100 dollar bet, shall we?

The bettor selects the New England Patriots as their team of choice and decides to lay $100 on the visiting Chicago Bears to win the Superbowl. The sportsbook will take $100 from the bettor and add it to the pot. So, the total amount of money in the pot is $200. The sportsbook will charge the customer a 20% rakeback for this wager, meaning that they’ll give the bettor a total return of $120, which is an excellent return on their $100 wager. Now, let’s say that the Patriots lose the game and the Bears win the Superbowl. In that case, the sportsbook would have to pay off the entire $200 and the customer would get their $100 back, plus another $100 from the winnings of the Bears. This results in the customer retaining $300, an excellent return on their $100 bet. In other words, the customer would break even on their $100 wager, despite the fact that they backed the underdogs and that is rarely if ever the case.

All You Need Is Luck

This brings us back to the beginning of this article, where we discussed how teams have a 40% chance of winning against the spread on a regular basis. Well, it’s not that simple. The key factor that makes sports betting so tough to win is the element of chance. As a result of this, betting on sports is incredibly stressful and can be extremely draining, mentally and physically. This is why many professional gamblers choose to leave the field of play and stay away from betting, or at least, limit their wagering to non-essential activities. So if you want to truly succeed at making money off sports betting, you’ll need to have a lot of luck on your side.

Ultimately, it’s all a matter of mathematics. Without a sound understanding of probability, it’s virtually impossible to know if you’re placing the right bet or if you’re losing money through reckless wagering. This is why you can’t beat the odds by simply placing a wager every now and then, as this kind of activity simply won’t give you the winning edge that you need to make up for losing so often. Instead, you need to set your wagering activity according to how much you can afford to lose. In the aforementioned example, the customer selected a $100 wager and knew that if the Patriots lost, they’d have to pay back the full $100, plus another $100 from the winnings of the Bears. In this case, the customer would be wise to take a pass on this bet, especially since the Patriots are one of the most well-known teams with a history of losing big games at the end. On the other hand, the customer would be nuts to lay down a $1000 dollar wager on the San Francisco 49ers, since this is exactly what they would need in order to break even on this bet, meaning that they’ll lose more than they make on this wager. In San Francisco, it’s all about being loyal to the hometown team, regardless of how terrible they may be this season.

Uncertainty Is The Name Of The Game

This brings us back to our original point, which is that no matter how good you are at picking winners or laying down precise wagers, the uncertainty of the outcome always looms large. Even with an excellent record, there’s always the possibility that you could lose a bet. On the other hand, professionals who specialize in handicapping individual teams for gaming purposes can greatly reduce this element of chance by providing precise odds for each game. For example, let’s say that you’re a huge fan of the San Francisco 49ers and are always confident that they’ll win every game they play. Now you can take this fandom and utilize it to your advantage by getting expert help in handicapping the games in which the 49ers will participate. This will greatly increase your winning percentage, providing you with a better chance of making money off future bets, while simultaneously lowering the risk of losing big.

The bottom line is that sports betting is a highly speculative activity, which means that no matter how good you are at it, you’ll never be able to beat the house. But you can take this inherent uncertainty and use it to your advantage by being smart about which games you choose to wager on and which ones to avoid. This is the way to get around the problem and beat the odds.