5 Reasons Why 95% of Bettors lose

By: AC Dinero     Date: Apr 1, 2015

Have you ever wondered why some bookmakers can retire in their 30’s or how others can make a living betting entirely on sports? This article will address the first. In a subsequent article, I’ll address the latter in stars vs squares. The following is a list that states what most losers do when betting on sports.

1. Betting favorites and overs: the odds-maker knows the public bet these and inflate the lines accordingly. It is difficult for the average bettor to pick a team that is supposed to lose or to root for that “boring” defense

2. Lack of will power and discipline: this comes with thinking in the short-term, poor money management skills, betting too much per game during winning AND losing streaks, and drinking while betting (ever wonder why casinos give away free drinks?)

3. The LOCK that can’t lose: perhaps the worst term in betting is the word lock. There is no such thing. Any bet can and will lose. Don’t put all your eggs in this one basket

4. The Gamblers Fallacy: This is when a better has lost several games in a row, and uses the laws of probability to convince them-selves that the next one can’t possibly lose. For example, he has lost 4 games in a row and believes the betting gods can’t possibly beat him a 5th time. The problem is he probably said that to himself the game before after he lost the 3rd one in a row. Every game is an independent event. It has no bearing on the one before it or the one after it. Have you ever been to a roulette table recently? If so, you will notice a tabulation of the prior 10 or so spins. This isn’t there to help the bettor. The Casino knows that if the last 5 spins were black, all of the bettors would bet red because the law-of-averages say so. This is an example of the gamblers fallacy, and the smart people running casinos know it

5. Failure to use straight bets: Along with poor money management skills, this is the main reason why bettors lose. A straight bet is betting a team to win. For example, Dallas -3 over Washington with odds of 110 is a straight bet. The 2 worst bets bettors can make are: • Parlays: This is when you pick 2 or more teams and get better odds. A 2 team parlay would give you +$2.33 for $1 bet. The problem is you have to win both game.

• Teasers: The biggest sucker bet a bettor can make. It is by far the biggest cash cow for a sportsbook. This also involves betting 2 or more teams, but instead of getting better odds (you actually get worse), you get points depending on the number of teams you take. A 2 team teaser gets you 6 points, but the odds are -120 instead of -110. Like a parlay, you must both games. Perhaps the biggest thing bettors miss on this bet is the sportsbook gets the extra half point and ties lose. If you have Dallas -2.5 and take them in a teaser and they lose by 3, you lose 2 different ways. The first is there are no half points in teasers, so you would be getting 3, not 3 ½. The novice bettor thinks he is getting 3 ½. The second is you lose instead of pushing because of a tie.

If you only remember one thing about betting on sports, other than betting with your heart and with money you don’t have, make it not to play teasers and parlays. If you want to make money betting on sports over the long term, use flat, straight bets and never bet more than 5% of your bankroll on any single game.

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