9 Important Sports Betting Facts and Myths You Need to Know

It was not long ago that sports betting was a controversial idea. There are numerous betting facts and myths floating around, and not all of them were good. It may surprise you that this was not so long ago. People associate sports betting with negative connotations. People who bet on sports were generally considered degenerates.

The general attitude towards sports betting has improved a lot over time. While there are still people who believe it is wrong, they are now in the minority. Sports betting is now accepted as a socially acceptable pastime.

This change in attitude has led to sports betting being discussed more. It’s possible to discuss the topic freely without fear of being judged. This means that there is a lot of information available on the subject. Many websites are dedicated to sports betting. Even the most popular sports outlets have extensive coverage of sports betting.

It’s wonderful that sports betting has become mainstream and there is so much information. However, there is a downside. Much of the information available is not accurate. Some information isn’t even close to accurate.

Before you start betting on sports, it is important to know all the facts. There are facts you need to know and myths you should not believe. This is why we wrote this article. So that you are clear on what you’re getting into, we separate fact from fiction.

Sports Betting Facts: It can be addictive

sports betting facts and myths: it can be addictive

Sports betting can be addictive for anyone. This includes you. You don’t have to believe you are immune. No-one is. No matter how smart or sensible you may be, it doesn’t matter what intelligence you have. It is easy to let your emotions get out of control and allow things to spiral out of control. This can happen with any form of gambling.

We are not trying to discourage sports betting. Addiction is a possibility.

You should establish a budget that is reasonable and clear for the amount you are willing to spend on sports betting. Stick to your budget no matter what. Never place a bet with money you cannot afford to lose.

Sports Betting Facts: It’s Easy to Get Started

Let me tell you a positive fact. It’s easy to understand the basics of sports betting and you don’t need to know much. If you follow our quick guide to sports betting, you will be placing your wagers in no time. You only need to follow five steps.

  1. Establish a budget
  2. Decide on what you want to place your bets
  3. Register at a betting site
  4. Learn about odds
  5. Find out the basics of wagering

This quick guide will walk you through each step in detail and by the end of it you will have all the sports betting facts and myths explained and crystal clear.

Betting Facts: You Are Probably Going To Lose

sports betting facts and myths: lose money

It’s not difficult to get started in sports betting but winning money isn’t as simple. You are more likely to lose money than you are to win. While you may win some of the wagers, your overall losses are likely to be significant. This is precisely why it is important to establish a budget.

We are not trying to discourage you. However, we want you to be realistic about your expectations. You’ll be disappointed if you expect to make quick money. Even if you are an expert on the sport you are betting on, it is difficult to beat the bookmakers. This feat is rare.

Millions of people around the globe regularly place bets on sports. They lose most of the time, so why would they continue spending their money on sports?

They ENJOY it.

It’s a lot of fun and one of the reasons it’s so popular is that it’s so entertaining. It’s entertainment just like any other. Losing money on bets is the price of that entertainment. It’s even more attractive because you can win some real money, though it is unlikely.

Do not be discouraged by the fact you will probably lose. You’re likely to have so much fun, you won’t even notice.

Sports Betting Facts: It CAN be Profitable

sports betting facts: make a profit

We are not contradicting each other here. We said that you will PROBABLY lose your money. It’s a huge difference.

Don’t believe those who claim that sports betting is only for fools and that only the bookmakers make any money. This is simply false.

Yes, most bettors lose. It’s a fact. It’s also true that some punters do make a profit. It’s possible to do the same.

Profitable sports betting is not easy. No. There is no secret formula to success. You can only be successful if you work hard. You must work hard.

This is the reason most people lose. They lose not because it’s impossible to win but because they aren’t willing to invest the necessary time and effort. Are you ready? If you are, the rewards are yours.

Sports Betting Facts: It’s All About Luck

You’d be surprised to know how much we hear this. It’s nonsense. It’s all about luck when you play the lottery. The same goes for playing slot machines, roulette, and any other casino games. Sports betting is not in the same category.

While we would not deny that luck is involved, there will be times when you win a wager you didn’t deserve or lose a wager you should have won. However, we ultimately control our own destinies.

Our success is not due to being luckier than others. Because we use the right approach to betting on sports, we make money. We are experts in identifying the best strategies and how to use them. We are skilled in identifying the value of betting markets and spend a lot of time doing research and analysis.

People try to say that we are successful because we are fortunate. This is actually quite offensive. We are good at what we do and have earned our success by working hard.

Don’t let anyone tell you that your success as a sports bettor exists because you are lucky. You worked hard and made good decisions consistently.

But there’s always a side to all this. If things don’t go your way, don’t blame luck. It’s easy to think that you are just having a bad luck streak. However, this is not always true. Sometimes, your losses are the result of mistakes you made.

It won’t solve your problem if you blame bad luck for your losses. Be honest with yourself. Make adjustments if necessary.

Sports Betting Facts: You Must Be a Math Genius

sports betting facts: math genius

Bets on sports involve a lot of math, and that’s something we have to admit. Numbers are everywhere, and they are very important. Knowing how to manipulate numbers can help you greatly.

To succeed, do you have to be a math genius? No. It is a complete myth. This myth is repeated often, but it’s still not true. Even though they are not mathematically inclined, we know of several people who make decent amounts of money betting on sports.

When betting on sports, you will need to make some calculations. This is a fact that you can’t ignore. These calculations are relatively simple and easy to perform. There’s no reason to be concerned if math isn’t your forte. It won’t affect your chances of success.

Sports Betting Facts: High-Odds Betting is more profitable

We totally understand why most people believe this. The greater the chance of winning, the higher the potential payout. However, the key word here is “potential”.

Imagine that you were offered the chance to place a wager on the first card drawn from a new pack of playing cards. There were two options for wagering:

$10 to win $100 for the Seven of Diamonds card

$10 to win $20 with any other card

Which bet would you place?

The second is the best, and you will soon see why. The odds of winning the first bet are higher and the payout potential is greater. This wager has a small chance of winning, however. Although the payout on the second wager is less, you are extremely likely to win.

Can you see the direction we are going? Sports betting odds are directly related to the chance 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.

You are decreasing your chances of winning if you bet at higher odds. You also have the chance to win more money. It’s not more or less profitable than betting with low odds over the long term.

Value is determined by comparing the odds that a wager will win to the chance of it losing.

A wager is considered to be of positive value if the odds of winning are greater than the odds. A wager is considered to be negative if the odds of winning are lower than the odds suggest.

This is all we need to know for now. When placing your bets, the size of the odds should only be one factor. Do not place wagers at higher odds just for the possibility of bigger payouts. This will only lead to you losing money.

Progressive Betting Systems Work

This piece of fiction is very dangerous. If there is one thing you can take away from this article it is that progressive betting systems don’t work. They are flawed and ultimately ineffective. We recommend avoiding them if you don’t want your bank account to go bust.

This question is almost impossible to answer, and we could argue that it’s better to not know. However, we don’t want to encourage you to look elsewhere for information or get bad advice. Here it is.

Progressive betting systems allow us to adjust our stakes based on the results of previous bets. There are two types of progressive betting systems:

  1. Positive progression systems
  2. System of negative progression

Positive progression systems increase our stakes after a win and decrease them following a loss. For example, after a win, our stakes could increase from $20 to $25. After a loss, it could be $20 to $15.

Positive progression systems are based on the idea that winning streaks can lead to greater profits and losing streaks can result in lower losses.

These systems are quite harmless, and we see the logic. They don’t increase our chances of winning but they are unlikely to be costly.

However, negative progression systems are not harmless. These systems are the opposite of positive progression systems. After a loss, stakes are increased and decreased after a win. This theory is that if we increase our stakes after a loss we will be able to recover previous losses when winning.

Although the logic may seem simple, these systems can be dangerous. It is easy to believe that increasing stakes after losing will eventually lead to a profit. Everybody wins eventually, right?

While this is true to a certain extent, losing streaks can be quite long-lasting. The stakes can quickly rise if you keep increasing them after every loss. This is when the entire system collapses.

Sports Betting Facts: Online betting is not safe

sport betting facts: safety

Is it safe to place online bets? This is a common question that we get asked. Although we always answer yes, many people are skeptical at first. They will need to be convinced before they will believe us. They believe they have been told differently. Online betting is legal and regulated. However, it has been around for more than two decades. The myth that it isn’t safe persists.

People were initially skeptical about online betting. We were too! It was still quite new to us to deposit money online and place real money bets. Could these betting sites be trusted with our cash? What about our winnings?

It was right to be concerned about the safety and security of online gambling back then. It was difficult to trust these sites as they were not regulated. It was a matter of trusting our gut instincts. It turned out that not all sites could be trusted. Like others, we also got scammed several times in the beginning.

Let’s not forget. Some betting sites can still be trusted. It’s much easier to avoid them. They are rare and easily outnumbered by sites that have proven they can be trusted.

Numerous betting sites are licensed and regulated. They have been in existence for many years. These sites have a solid track record and can be trusted with their reputations. Online betting is safe because these sites are available to millions of people around the globe.

We can assist you with that. All of our recommended sites for sports betting have been thoroughly reviewed and can be trusted to be safe. We recommend them because they offer a great service! We truly hope that these sports betting facts and myths helped you have a more clear image of the entire industry!

As always, remember to bet with your head and not over it!

Related Article:

Using Multiple Sportsbooks: 5 Little-Known Reasons To Bet At More Than One

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