Betting Facts & Betting Fiction
We remember when the idea of sports betting made people feel uncomfortable. This might surprise you, depending on your age, but it wasn’t actually that long ago. People would associate sports betting with very negative connotations. Anyone who bet on sports was basically considered a degenerate.
Thankfully, the general attitude to sports betting has changed a lot over the years. Sure, there are still some people who think it’s wrong, but they are in the minority now. Sports betting is finally starting to be considered a socially acceptable pastime.
One result of this change in attitude is that sports betting gets talked about a lot more. People can discuss it freely, without worrying about being judged. That means there’s a lot more available information on the subject. There are many websites dedicated to sports betting, for example, and even the major sports outlets cover sports betting extensively.
It’s great that sports betting is mainstream now, and that there’s plenty of available information. There’s a slight downside too though. A lot of the information that’s out there isn’t entirely accurate. Some of it isn’t even CLOSE to being accurate.
We think it’s important that you know the truth about sports betting before you get started. There are some facts that you should know, and some myths that you shouldn’t believe. That’s why we we’ve written this article. We separate the fact from the fiction, so that you know exactly what you’re getting into.
Sports Betting Can Be Addictive
Anyone can get addicted to sports betting. That includes YOU. Don’t make the mistake of thinking you’re immune, because you’re not. No-one is. It doesn’t matter how intelligent you are, or how sensible you are. It’s all too easy to get carried away and let things spiral out of control. Any form of gambling can have this kind of impact.
We’re not trying to discourage you from betting on sports here. We just want you to know that addiction is a risk. If you have an addictive personality, or don’t have much discipline, please think carefully about whether this is the right pastime for you.
If you do decide to go ahead and start betting on sports, be sure to set a clear and affordable budget for how much you’re prepared to spend. Then stick to it, no matter what happens. NEVER bet with money that you can’t afford to lose.
Getting Started is Easy
Here’s a more positive fact for you. The basics of sports betting are very straightforward, and there’s not much you need to learn. So getting started is nice and easy. In fact, if you follow our quick start guide to sports betting then you’ll be placing wagers before you know it. There are just five steps you need to take.
- Set a budget
- Decide what to bet on
- Join a betting site
- Learn about odds
- Learn the simple wagers
Our quick start guide explains each of these steps in detail. It doesn’t take long to read, so go ahead and take a look. As time goes on, there’ll be a lot more information that you’ll want to learn, but that can wait for now.
You’re Probably Going to Lose
Although it’s easy to get started with sports betting, winning money isn’t nearly as easy. Realize that you’re more likely to lose than win. You may win some of your wagers, but you’re probably going to lose money overall. This is why it’s so important to set an affordable budget.
Again, we’re not telling you this to discourage you. We do want you to have realistic expectations though. If you’re expecting to make easy money, you’re just going to end up disappointed. It’s hard to beat the bookmakers, even if you know a lot about the sports you’re betting on. Very few people pull this off.
Millions of people all over the world regularly bet on sports. Most of them lose, so why do you think they keep spending their money?
It’s because they ENJOY it.
Sports betting is a lot of fun, and it’s one of the main reasons why it’s so popular. It’s a form of entertainment like any other, and losing money on wagers is simply the cost of that entertainment. The chance of actually winning some money, however unlikely, just makes it even more appealing.
Don’t be discouraged by the fact that you’re probably going to lose. There’s a good chance you’ll have so much fun that you won’t even mind.
Sports Betting CAN Be Profitable
No, we’re not contradicting ourselves here. We said that you’ll PROBABLY lose money, not that you DEFINITELY will. There’s a big difference.
Don’t believe the people who say that sports betting is for suckers, and that the bookmakers are the only ones who make any money. This is simply not true.
Yes, most bettors lose. That’s a fact. But it’s also a fact that some bettors DO make a profit. There’s no reason why you can’t do the same.
Is profitable sports betting easy? Absolutely not. There are no shortcuts to success, and no magic systems that are guaranteed to win. The only way to be successful is to work hard. Very hard.
Sadly, this is why most people lose. They don’t lose because it’s impossible to win, they lose because they’re not willing to put in the required time and effort. Are you? The rewards are there for the taking if you are.
Sports Betting is All About Luck
We hear this a lot. It’s nonsense. Playing the lottery is all about luck. So is playing slots, roulette, or any other casino game. Betting on sports is NOT in the same category.
We would never deny the fact that there is luck involved, because there will be times when we win a wager we didn’t deserve to or when we lose a wager we should have won. We’re ultimately in control of our own destiny though.
We’re successful sports bettors, but not because we’re luckier than everyone else. We make money because we take the right approach to sports betting. We know which strategies to use, and how to use them. We’re skilled at identifying value in the betting markets, and we spend a lot of time on research and analysis.
We’re actually pretty insulted when people try to claim that we are only successful because we are lucky. We’re good at what we do, and we’ve EARNED our success by putting in the hours.
So if you manage to succeed as a sports bettor too, don’t ever let anyone tell you it’s just because you’re lucky. It’ll be because you worked hard, and consistently made good decisions.
There’s a flip side to this though. Don’t be too quick to blame luck when things don’t go your way. While it’s easy to assume that you’re just experiencing an unlucky losing streak, that’s not always the case. Sometimes your losses will be the direct result of the mistakes you’ve made.
Blaming your losing streak on bad luck isn’t going to solve the problem, so make sure you’re honest with yourself. Analyze what you’re doing, and make adjustments as necessary.
You Need to Be a Math Genius
We’ve got to be honest with you, there’s a lot of math involved when betting on sports. Numbers are everywhere and they are important. Understanding how to manipulate numbers will help you substantially.
Do you need to be a math genius to succeed though? No. This is a complete myth. A myth that gets repeated very often, but a myth nonetheless. We personally know several people that make a decent amount of money from sports betting, despite not being mathematically inclined.
You will need to do SOME calculations when betting on sports. There’s no getting away from that. Most of these calculations are pretty basic though, and relatively easy to do. So there’s absolutely no need to worry if math is not your strong point. This won’t ruin your chances of success in any way.
Betting at High Odds is More Profitable
We get why people think this. The higher the odds, the higher the potential payout. The key word here is “potential” though.
Imagine we gave you the chance to bet on the first card dealt from a newly shuffled pack of playing cards. We offered two possible wagers, as follows.
- $10 to win $100 on the card being the seven of diamonds.
- $10 to win $20 on the card being any other card.
Which wager would you go for?
You SHOULD go for the second one, and you hopefully know why. The first wager has higher odds, and the potential payout is better. There’s only a very small chance of winning this wager though. The payout is lower on the second wager, but you’re extremely likely to win.
Do you see where we’re going with this? The odds in sports betting are always related to the chances of a wager winning. The more likely the wager is to win, the lower the odds will be. The less likely the wager is to win, the higher the odds will be.
When choosing to bet at higher odds, you are reducing your chances of winning. This is offset by having the opportunity to win even more money. Ultimately, it’s no more or less profitable than betting at low odds in the long run.
Value is calculated by comparing the odds of a wager to the chances of that wager winning.
When the chances of winning are higher than the odds suggest, a wager is said to have positive value. When the chances of winning are lower than the odds suggest, a wager is said to have negative value.
Confused? Don’t worry. We explain value in more detail in the following article.
If you are serious about making money from sports betting, then you are going to want to take the time to read through this article. Value is a crucial concept that you’ll have to understand to be successful.
For now, just know this. The size of the odds is only ONE factor to consider when placing your wagers. Don’t ever bet at high odds solely because of the potential for bigger payouts, as this approach is sure to cost you money.
Progressive Betting Systems Work
This particular piece of fiction is dangerous. If you only take one thing away from this article, please let it be that progressive betting systems DON’T work. They are fundamentally flawed, and ultimately useless. If you don’t want to go broke, then we suggest avoiding them completely.
We almost don’t want to answer this question, as we could argue that it’s better not to know. We don’t want you looking elsewhere for the information though, and getting bad advice. So here it goes.
Progressive betting systems involve adjusting our stakes based on the results of previous wagers. There are two main types.
- Positive progression systems
- Negative progression systems
With positive progression systems, our stakes are increased following a win and reduced following a loss. So, for example, we might go from $20 to $25 after a win. And from $20 to $15 after a loss.
The theory behind positive progression systems is that we can make bigger profits when we go on a winning streak, and minimize our losses when we go on a losing streak.
We recognize the logic here and understand that these systems are relatively harmless. They do absolutely nothing to improve our overall chances of winning, but they’re unlikely to cost us much either.
Negative progression systems, however, are NOT harmless. These are basically the reverse of positive progression systems. Stakes are increased after a loss, and reduced after a win. The theory here is that by increasing our stakes after a loss, we’ll be able to recover our previous losses when we do win.
The logic might seem sound, and that’s exactly why these systems are so dangerous. It’s very easy to believe that constantly increasing stakes after losses will ultimately result in a profit. Everyone wins eventually, right?
This is true to an extent, but losing streaks can last for a long time. By continually increasing the stakes after each loss, the stakes can easily get so high that they’re unaffordable. And that’s when the whole system breaks down.
If you really want to know more about progressive betting systems, we’ve covered them more extensively on the following page. PLEASE remember that they simply don’t work when betting on sports though.
Online Betting Is Not Safe
Is it safe to bet online? This is a question we hear a lot. We always say yes, but a lot people don’t believe us at first. They need convincing before they’ll take our word for it. This is usually because they’ve been told otherwise. Although online betting has been around for over two decades now, and is a legitimate and regulated industry, the myth that it’s not safe still persists.
Naturally, in the beginning people were skeptical about betting online. We were too! The internet was still relatively new and the idea of depositing our money online to place real money wagers was daunting to say the least. Could these betting sites be trusted with our money? Were they going to pay us our winnings?
We were right to be worried about the safety of online betting back then. These sites were not being regulated, so it was practically impossible to know whether or not they could be trusted. We just had to take a leap of faith. Unfortunately, it turned out that some sites COULDN’T be trusted. We got scammed a couple of times, as did many others.
Let’s be clear. There are still some betting sites that can’t be trusted. The difference is that it’s a lot easier to avoid them. There aren’t many of them, and they are easily outnumbered by sites that have PROVED they can be trusted.
There are countless betting sites that are fully licensed and regulated, having been around for a very long time. These sites have good track records, and their reputations cannot be called into question. The fact that such sites exist, and service millions of customers around the world, is more than enough proof that online betting IS safe. It’s just a matter of using the right sites.
We can help with that. Our recommended sports betting sites have all been thoroughly checked out, and we can assure you that they’re as safe as they come. They also happen to provide a very good service, which is why we recommend them!
BEST SPORTS BETTING SITESAs recommended by GamblingSites.com