Betting Facts & Betting Fiction

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鈥檛 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鈥檚 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鈥檚 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鈥檚 great that sports betting is mainstream now, and that there鈥檚 plenty of available information. There鈥檚 a slight downside too though. A lot of the information that鈥檚 out there isn鈥檛 entirely accurate. Some of it isn鈥檛 even CLOSE to being accurate.

We think it鈥檚 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鈥檛 believe. That鈥檚 why we we鈥檝e written this article. We separate the fact from the fiction, so that you know exactly what you鈥檙e getting into.

Sports Betting Can Be Addictive

Anyone can get addicted to sports betting. That includes YOU. Don鈥檛 make the mistake of thinking you鈥檙e immune, because you鈥檙e not. No-one is. It doesn鈥檛 matter how intelligent you are, or how sensible you are. It鈥檚 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鈥檙e 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鈥檛 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鈥檙e prepared to spend. Then stick to it, no matter what happens. NEVER bet with money that you can鈥檛 afford to lose.

Getting Started is Easy

Here鈥檚 a more positive fact for you. The basics of sports betting are very straightforward, and there鈥檚 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鈥檒l 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鈥檛 take long to read, so go ahead and take a look. As time goes on, there鈥檒l be a lot more information that you鈥檒l want to learn, but that can wait for now.

You鈥檙e Probably Going to Lose

Although it鈥檚 easy to get started with sports betting, winning money isn鈥檛 nearly as easy. Realize that you鈥檙e more likely to lose than win. You may win some of your wagers, but you鈥檙e probably going to lose money overall. This is why it鈥檚 so important to set an affordable budget.

Again, we鈥檙e not telling you this to discourage you. We do want you to have realistic expectations though. If you鈥檙e expecting to make easy money, you鈥檙e just going to end up disappointed. It鈥檚 hard to beat the bookmakers, even if you know a lot about the sports you鈥檙e betting on. Very few people pull this off.

Does this mean you shouldn鈥檛 even try?
Not at all!

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鈥檚 because they ENJOY it.

Sports betting is a lot of fun, and it鈥檚 one of the main reasons why it鈥檚 so popular. It鈥檚 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鈥檛 be discouraged by the fact that you鈥檙e probably going to lose. There鈥檚 a good chance you鈥檒l have so much fun that you won鈥檛 even mind.

Sports Betting CAN Be Profitable

No, we鈥檙e not contradicting ourselves here. We said that you鈥檒l PROBABLY lose money, not that you DEFINITELY will. There鈥檚 a big difference.

Don鈥檛 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鈥檚 a fact. But it鈥檚 also a fact that some bettors DO make a profit. There鈥檚 no reason why you can鈥檛 do the same.

It鈥檚 possible for ANYONE to make money from betting on sports.

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鈥檛 lose because it鈥檚 impossible to win, they lose because they鈥檙e 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鈥檚 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鈥檛 deserve to or when we lose a wager we should have won. We鈥檙e ultimately in control of our own destiny though.

The decisions we make will have a huge impact on whether we win or lose.

We鈥檙e successful sports bettors, but not because we鈥檙e 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鈥檙e skilled at identifying value in the betting markets, and we spend a lot of time on research and analysis.

We鈥檙e actually pretty insulted when people try to claim that we are only successful because we are lucky. We鈥檙e good at what we do, and we鈥檝e EARNED our success by putting in the hours.

So if you manage to succeed as a sports bettor too, don鈥檛 ever let anyone tell you it鈥檚 just because you鈥檙e lucky. It鈥檒l be because you worked hard, and consistently made good decisions.

There鈥檚 a flip side to this though. Don鈥檛 be too quick to blame luck when things don鈥檛 go your way. While it鈥檚 easy to assume that you鈥檙e just experiencing an unlucky losing streak, that鈥檚 not always the case. Sometimes your losses will be the direct result of the mistakes you鈥檝e made.

Blaming your losing streak on bad luck isn鈥檛 going to solve the problem, so make sure you鈥檙e honest with yourself. Analyze what you鈥檙e doing, and make adjustments as necessary.

You Need to Be a Math Genius

We鈥檝e got to be honest with you, there鈥檚 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鈥檚 no getting away from that. Most of these calculations are pretty basic though, and relatively easy to do. So there鈥檚 absolutely no need to worry if math is not your strong point. This won鈥檛 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 鈥減otential鈥?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鈥檚 only a very small chance of winning this wager though. The payout is lower on the second wager, but you鈥檙e extremely likely to win.

Do you see where we鈥檙e 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鈥檚 no more or less profitable than betting at low odds in the long run.

What matters is the VALUE that the odds represent.

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鈥檛 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鈥檒l 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鈥檛 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鈥橳 work. They are fundamentally flawed, and ultimately useless. If you don鈥檛 want to go broke, then we suggest avoiding them completely.

What ARE progressive betting systems?

We almost don鈥檛 want to answer this question, as we could argue that it鈥檚 better not to know. We don鈥檛 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鈥檙e 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鈥檒l be able to recover our previous losses when we do win.

The logic might seem sound, and that鈥檚 exactly why these systems are so dangerous. It鈥檚 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鈥檙e unaffordable. And that鈥檚 when the whole system breaks down.

If you really want to know more about progressive betting systems, we鈥檝e covered them more extensively on the following page. PLEASE remember that they simply don鈥檛 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鈥檛 believe us at first. They need convincing before they鈥檒l take our word for it. This is usually because they鈥檝e 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鈥檚 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鈥橳 be trusted. We got scammed a couple of times, as did many others.

It鈥檚 VERY different these days.

Let鈥檚 be clear. There are still some betting sites that can鈥檛 be trusted. The difference is that it鈥檚 a lot easier to avoid them. There aren鈥檛 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鈥檚 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鈥檙e as safe as they come. They also happen to provide a very good service, which is why we recommend them!