Why Most Sports Gamblers Lose Money
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Sports gamblers: Money Management
Well, well, what a surprise to find this at number one on our list. Sports gamblers are not losing so much from poor choices, but from poor money management. There are for sure far more bettors who can pick winners than there are those who can turn that skill into making money. It all comes down to how you control your spending. There are just so many examples of bad money practices that it’s hard to know where to start. Anyhow, if you would like to learn how to win money you can find better examples at the online jackpot sites.
No Doubling Up
OK…first off, betting $50 on one game and the $500 on the next is a surefire way to go home broke. You might as well simply bet 50% of your bankroll on one event. A disaster waiting to happen. Of course, you may well win a few games, but if you’re betting more than you should secure those wins, then eventually you’ll be going home on the bus. or walking. Losses can build up very quickly and before you know it, you’re swimming in a sea of hurt. It’s the same with doubling up after each loss. This is another sure recipe for disaster and it’s sometimes surprising to see those who should know better get caught up in the heat of the action and doing something foolish. Every book ever written on the subject of sports betting will have a chapter or two on the importance of money management.
Betting on the Wrong Events
Though it makes little sense to sports gamblers, both football and basketball receive the lion’s share of all sports wagers. And yet they are by far the most difficult of all sports to pull in any decent long term profits via betting. It’s no secret as you’ll hear many punters bemoaning their sad fate the day after a big game or match. Even hockey has it’s a fair share of cheerleaders and yet makes even less than basketball. But at least those two are better bets than football. Remember that you don’t have to like a sport to bet on it. As a sports bettor, you’re looking for a good return on your wager. You’re looking for open opportunities. End of story. If you like making money, then don’t worry about what the sport is, worry more about the odds of you being able to score a win.
Sports gamblers: Lack of Knowledge
They say that a little knowledge is a dangerous thing. And they are not wrong. Most sports gamblers know just about enough of the sports they’re betting on to be a danger to themselves and their wallets. There’s a world of difference between knowing the difference between NFL play and NFL betting. Chalk and cheese! Knowing the names of all the players will not help you when it comes to laying bets. It’s a completely different type of knowledge that’s required. And it’s a lot more effort to learn. Remember who you’re betting against. That’s right, other sports bettors.
Someone Knows More Than You
You have zero chance unless, like them, you are spending countless hours studying form, handicapping, trends, injuries, in fact, every angle of betting. It takes a lot of insights and knowledge to pull off a decent living from sports betting. It’s not a game. If you can’t find the time to seek out all this information yourself, then try to find a mentor, someone who’ll teach you, one to one. Remember that you will never know more than some other people, so just get your head down and start learning. No one said it was a quick and easy process or you would find everyone and their dog doing it. There’s an old joke about a sports gambler who keeps losing money week after week. In the end, his bookie, feeling sorry for him, says to him, “Hey, why don’t you bet on hockey?” To which the gambler replied, “Hockey! What do I know about that!”.
Betting On Too Many TV Games
Many sports gamblers feel a huge pressure to bet on everything that comes up on the TV. They feel as though it’s some sort of contest to prove their betting chops in front of their mates or even family. And because there are so many different sports and live games shown every day, there’s always a good chance that the money will fly out to the bookies faster than you can say, “well, how do we pay the rent now?” You might be surprised at the number of folks who bet on seven or eight games in an evening. The thing with TV betting is that the lines are sharpest on televised games as both the oddsmakers and the bookmakers realize that those games will be the most heavily bet on. So, as a general rule, if you’re going to bet on something on the TV, then those bets should be much smaller than your normal punts. We suggest that you keep to just a quarter of the amount you might otherwise spend on a wager. Remember that you are not betting on the outcome of each game. No, you’re looking for good bets. There’s a huge difference and if you can’t see it, then it’s time to stop betting altogether.
Sports Gamblers: Casino Betting
Today, many sportsbooks offer casino games. It makes sense as their licenses are very expensive and so it pays to have as many money-making possibilities available as possible. But beware. Yes, it’s perfectly possible for decent sports gamblers to end the day with a cash profit. But if you re-invest those earnings into games of pure chance, then say goodbye to them. If you want to improve your sports betting game, then focus on that. Learn some, and then learn some more. With study and practice, you can make a good living from sports betting. But remember, that probably the most important aspect of all, is the management of your hard-earned cash, oh… and having a good time. By the way, you can win the jackpot online at any time so you can even win back the money you spent to entertain yourself.
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