[Infographics] Does Football Betting Pay Off?

[davis196]

I don't know if anyone above me has already mentioned this.
What about a guy, who made 100 losing bets of small amounts of money and only one extremely lucky bet that won 10x or more? Assuming that he made more money with that bet than the money he lost. Does this make him a successful gambler or a loser? Maybe he sees himself as a winner, while in reality he's a loser, who happened to be extremely lucky for once.
I also think that many sports bettors are exaggerating their success so this survey can't be accurate.
Why aren't other European countries included? Football betting is very popular in my country. The TV shows are full with football betting ads.

[nullama]

I don't know if anyone above me has already mentioned this.
What about a guy, who made 100 losing bets of small amounts of money and only one extremely lucky bet that won 10x or more? Assuming that he made more money with that bet than the money he lost. Does this make him a successful gambler or a loser? Maybe he sees himself as a winner, while in reality he's a loser, who happened to be extremely lucky for once.
I also think that many sports bettors are exaggerating their success so this survey can't be accurate.
Why aren't other European countries included? Football betting is very popular in my country. The TV shows are full with football betting ads.

In that case, if the gambler ended up with more money than what he initially started, then that's a successful gambler. It's just math.

Now, in the head of that person, it will probably feel like he lost, because our brains perceive losing more intensely than winning. So, let's say he won and lost, and eventually ended up with the same amount of money he entered, he would feel the losses more than the winnings, so it will be a negative feeling in the end.

This is called loss aversion: https://en.wikipedia.org/wiki/Loss_aversion

[Lanatsa]

I don't know if anyone above me has already mentioned this.
What about a guy, who made 100 losing bets of small amounts of money and only one extremely lucky bet that won 10x or more? Assuming that he made more money with that bet than the money he lost. Does this make him a successful gambler or a loser? Maybe he sees himself as a winner, while in reality he's a loser, who happened to be extremely lucky for once.
I also think that many sports bettors are exaggerating their success so this survey can't be accurate.
Why aren't other European countries included? Football betting is very popular in my country. The TV shows are full with football betting ads.

In that case, if the gambler ended up with more money than what he initially started, then that's a successful gambler. It's just math.

Now, in the head of that person, it will probably feel like he lost, because our brains perceive losing more intensely than winning. So, let's say he won and lost, and eventually ended up with the same amount of money he entered, he would feel the losses more than the winnings, so it will be a negative feeling in the end.

This is called loss aversion: https://en.wikipedia.org/wiki/Loss_aversion

This is true and this is what i do felt out even my capital was just break even or even on profit on very small amount but still you could really feel out that you are really still in loss which it cant really be avoided

for you not to feel those emotions or reactions but if you are someone who do really get used to with these kind of scenario.Back to topic about Football betting pay off?
Totally depending because not all would really be in similar when it comes on putting up their choices and the analysis that they had put up into.

[bitbollo]

the real question it should be... how much they win? These percentage of people betting what are achieving?
Some times ago I have found some data that shows that a good gambler can earn 8% from the total wagering of one year.
I am pretty curious to see the real data about these wins ...

[Silberman]

the real question it should be... how much they win? These percentage of people betting what are achieving?
Some times ago I have found some data that shows that a good gambler can earn 8% from the total wagering of one year.
I am pretty curious to see the real data about these wins ...

I'm pretty sure that a great deal of the people that said they are actually earning money are losing it instead, people have a very strong tendency to remember the times they won and to forget the times they had lost, it is why it is kind of a waste of time to read studies in which people self-report because there is a very strong bias to remember only the good outcomes they had, after all if there were that many people earning money out of casinos I doubt they could remain in business for long.

[Wexnident]

I don't know if anyone above me has already mentioned this.
What about a guy, who made 100 losing bets of small amounts of money and only one extremely lucky bet that won 10x or more? Assuming that he made more money with that bet than the money he lost. Does this make him a successful gambler or a loser? Maybe he sees himself as a winner, while in reality he's a loser, who happened to be extremely lucky for once.
I also think that many sports bettors are exaggerating their success so this survey can't be accurate.
Why aren't other European countries included? Football betting is very popular in my country. The TV shows are full with football betting ads.

I think the general result from the infographic is not winning in matches but rather winning/profiting off of it in general. Though I do think this infographic either showed what you actually indicated ( only losing more than winning in their entire gambling experience) or the people who actually won can actually be described as "barely" profiting off of their overall bets. Overall I wouldn't really consider this to be actually true or accurate, a lot of information on the internet is put over the top after all to attract views and attention.

[fullhdpixel]

In that case, if the gambler ended up with more money than what he initially started, then that's a successful gambler. It's just math.

Now, in the head of that person, it will probably feel like he lost, because our brains perceive losing more intensely than winning. So, let's say he won and lost, and eventually ended up with the same amount of money he entered, he would feel the losses more than the winnings, so it will be a negative feeling in the end.

This is called loss aversion: https://en.wikipedia.org/wiki/Loss_aversion

This is true and this is what i do felt out even my capital was just break even or even on profit on very small amount but still you could really feel out that you are really still in loss which it cant really be avoided

for you not to feel those emotions or reactions but if you are someone who do really get used to with these kind of scenario.Back to topic about Football betting pay off?
Totally depending because not all would really be in similar when it comes on putting up their choices and the analysis that they had put up into.

I don't know bout you guys but for me a small profit is still a profit and I already considered myself as successful with it. When there is a success there is also a failure and for me a failure is when you lost a portion of your balance or went home empty. Sometimes it is better to take home small profits than wanting for more because shit can happen and you will not only lose what you already gained but you can lose all even your starting balance.

I agree what you said there about football betting. Not all are into sports and even if they are into sports, they may still not be good at analyzing a team so football betting is not worthy for them.

[Hispo]

This is curious, I would have assumed that people from Germany placed more bets considering they have quite very good football teams.
It is also worth noticing the fact they have quite a relatively low position on the percentage of people who place bets but a high percetange of those who actually report earning money from those sport bets.

It would be cool to see a similar study buy including countries from Latin American, in special Argentina, Brasil, Chile, etc.

[livingfree]

I'm pretty sure that a great deal of the people that said they are actually earning money are losing it instead, people have a very strong tendency to remember the times they won and to forget the times they had lost, it is why it is kind of a waste of time to read studies in which people self-report because there is a very strong bias to remember only the good outcomes they had,

Well, it is a fact.

We just don't want to remember how much we're losing unless it's on our books and we do have a record of it. But as the majority, they will say that it's not recorded but we remember figures.

Both of it, win and lose.

after all if there were that many people earning money out of casinos I doubt they could remain in business for long.

I agree, they're a business that will be gone for long if majority have been winning.

[Bhig Daddy]

Gambling has it fun but again it also have it bad side, because when you losing you tend to forget about how much you losing all you can think of is how to regain your money and even win some profit. It fun when you winning and things will just keep going in your favor. No matter the situation just gamble responsibly.

[ethereumhunter]

Gambling has it fun but again it also have it bad side, because when you losing you tend to forget about how much you losing all you can think of is how to regain your money and even win some profit. It fun when you winning and things will just keep going in your favor. No matter the situation just gamble responsibly.

It depends on how you use gambling because if you can manage yourself when you gamble. Many people lose control when they play gambling, which causes them to get on the bad side of gambling. If you can avoid it, you will be fine playing gambling and instead, you can enjoy gambling as a means to release stress and as a fun pastime. But if you think about getting money from gambling, it will only make you try to chase wins and what will happen the other way around you will get a loss when playing gambling.

[Silberman]

I don't know if anyone above me has already mentioned this.
What about a guy, who made 100 losing bets of small amounts of money and only one extremely lucky bet that won 10x or more? Assuming that he made more money with that bet than the money he lost. Does this make him a successful gambler or a loser? Maybe he sees himself as a winner, while in reality he's a loser, who happened to be extremely lucky for once.
I also think that many sports bettors are exaggerating their success so this survey can't be accurate.
Why aren't other European countries included? Football betting is very popular in my country. The TV shows are full with football betting ads.

I think the general result from the infographic is not winning in matches but rather winning/profiting off of it in general. Though I do think this infographic either showed what you actually indicated ( only losing more than winning in their entire gambling experience) or the people who actually won can actually be described as "barely" profiting off of their overall bets. Overall I wouldn't really consider this to be actually true or accurate, a lot of information on the internet is put over the top after all to attract views and attention.

And this shows once again that unless a study is conducted under the correct methodology then the results are completely useless, our memories are not perfect and if to this we add that we have no incentive to remember the times that we lost as they are too painful to remember then we can easily see why so many people think they are profitable when that is not the case, this reminds of a study I read once in which the majority of the students thought themselves to be above average when it came to the work and time they dedicated to their studies, something that is mathematically impossible and yet that is what they thought.

[Boristhecat]

the real question it should be... how much they win? These percentage of people betting what are achieving?
Some times ago I have found some data that shows that a good gambler can earn 8% from the total wagering of one year.
I am pretty curious to see the real data about these wins ...

This is a question that cannot be answered, it is meaningless. If you take all the betters, then in total they are the losers (it cannot be otherwise - the bookmaker always wins with a large number of bets made). If you take the top 1% of the most successful, then the fact that they are in the black (if they are in the black) does not mean that they were able to "earn" by betting. This suggests that with a large number of events, according to the law of normal distribution, some of the events will lie outside the area of "expected" results. Roughly speaking, out of a trillion (or quadrillion) playing the lottery, someone will win several times in a row, but this will not mean that he "earns" on the lottery.

[Silberman]

the real question it should be... how much they win? These percentage of people betting what are achieving?
Some times ago I have found some data that shows that a good gambler can earn 8% from the total wagering of one year.
I am pretty curious to see the real data about these wins ...

This is a question that cannot be answered, it is meaningless. If you take all the betters, then in total they are the losers (it cannot be otherwise - the bookmaker always wins with a large number of bets made). If you take the top 1% of the most successful, then the fact that they are in the black (if they are in the black) does not mean that they were able to "earn" by betting. This suggests that with a large number of events, according to the law of normal distribution, some of the events will lie outside the area of "expected" results. Roughly speaking, out of a trillion (or quadrillion) playing the lottery, someone will win several times in a row, but this will not mean that he "earns" on the lottery.

This is why the field of probabilities can be so counterintuitive, for most people as long as they earn money with their gambling they consider themselves winners, what they fail to see is that over the long term the casino will always win, so unless they can change the expected value of the game somehow eventually their results will return to the mean, so even those gamblers that supposedly can make profits when they play a gambling game will still lose money given enough time.

[Pierre 2]

It is no surprise to me that mediterrenean countries have the most passionate and even bet loving fans. Especially Italian betting must be big business. But other data where they asked people if they think they won a money seems biased to me as well. People would love exaggerate their wins, and generally ignore their losses. Those stats are like "who are the biggest liars?" in my opinion. I personally love to bet on football although I generally target low scoring teams to get better/surprising odds.

that's funny though! "who are the biggest liars?" but anyway, such infographics should not be taken seriously as there may be some lapses here. for me, it is also not the true representation of bettors that you can get here. but just to give an idea about football bettors in several countries. we also don't know if they got enough sample size to come up with this infographic.

Yeah it is obviously funny to measure by asking people. People nearly never tell truth about their life and choices. Also  I agree that sample with these are generally 1000-2000s people so its never enough to measure whole nation!
By the way I feel like if you are consisten footbal watcher, football betting can be very very profitable. I know a person who is cleaner and his wage is low, although he knows football and makes around his wage monthly. So doubles his income.

[ChiBitCTy]

I’m not surprised to see my fellow Italians (I’m not directly from Italy but am 3rd generation Italian in the United States) being at the top of this list. I would imagine being that football (or soccer as we Americans know it) is by far the most popular sport, that betting on it is just an absolutely huge deal there in Europe. I think Euro laws are more strict around gambling however ?

[Cryptomultiplier]

It is no surprise to me that mediterrenean countries have the most passionate and even bet loving fans. Especially Italian betting must be big business. But other data where they asked people if they think they won a money seems biased to me as well. People would love exaggerate their wins, and generally, ignore their losses. Those stats are like "who are the biggest liars?" in my opinion. I personally love to bet on football although I generally target low scoring teams to get better/surprising odds.

that's funny though! "who are the biggest liars?" but anyway, such infographics should not be taken seriously as there may be some lapses here. for me, it is also not the true representation of bettors that you can get here. but just to give an idea about football bettors in several countries. we also don't know if they got enough sample size to come up with this infographic.

Yeah it is obviously funny to measure by asking people. People nearly never tell truth about their life and choices. Also  I agree that sample with these are generally 1000-2000s people so its never enough to measure whole nation!
By the way I feel like if you are consisten footbal watcher, football betting can be very very profitable. I know a person who is cleaner and his wage is low, although he knows football and makes around his wage monthly. So doubles his income.

I do think the infographics are rather for a selected number of countries put together. It makes sense the data was gotten or could have been compiled from the sites that register a bettor and by using a small sample size to direct questions. It is valid to see Italy topic the chart, because they been doing gambling since the mafias and more football divisions. Also, I think most African countries like Nigeria have large bettors on football. I used to know a neighbour who sorted his bills with winnings from betting on football. It was almost like his profession at the time because he knew how to so well that he won almost every week during CL and EPL .

[Fortify]

This chart shows the share of football fans in selected countries that place bets on matches, and how many of them say they make money from it in 2021.

*Respondents who say that they win money overall in the course of an average season.
n=13,300 adults (16+) interested in football. Conducted in May 2021

It's definitely interesting to see that French teams are the most reliable out of all these options for presumably achieving the expected outcome of the match. That must mean that there are clearly more defined skill levels between French teams. It just goes to show that there really are thousands of different data points that can be used to extrapolate different money making potential and it might be possible to get an edge on bookmakers if you can come up with an (up to date) collection of them. However, even 37% seems fairly low when you think about it and I'd expect realistic profitability would need 50%+ indicator to make it worth trying your luck.

[Cling18]

It is no surprise to me that mediterrenean countries have the most passionate and even bet loving fans. Especially Italian betting must be big business. But other data where they asked people if they think they won a money seems biased to me as well. People would love exaggerate their wins, and generally ignore their losses. Those stats are like "who are the biggest liars?" in my opinion. I personally love to bet on football although I generally target low scoring teams to get better/surprising odds.

that's funny though! "who are the biggest liars?" but anyway, such infographics should not be taken seriously as there may be some lapses here. for me, it is also not the true representation of bettors that you can get here. but just to give an idea about football bettors in several countries. we also don't know if they got enough sample size to come up with this infographic.

Yeah it is obviously funny to measure by asking people. People nearly never tell truth about their life and choices. Also  I agree that sample with these are generally 1000-2000s people so its never enough to measure whole nation!
By the way I feel like if you are consisten football watcher, football betting can be very very profitable. I know a person who is cleaner and his wage is low, although he knows football and makes around his wage monthly. So doubles his income.

People may say that they're making money from it but I guess it will be better if they will make another separate survey about how many of those players lose before making money. Some gamblers would think that it's easy to make money out of football betting without knowing that there's also a huge possibility of losing. We shouldn't disregard the risks.

[Gozie51]

When I was growing up I heard Italy as a country that is not really strict about rules and regulation unlike many other countries in Europe. They allow citizens to live and enjoy their lives like clubbing, hanging out , gambling etc so I'm not surprised seeing Italy as the number 1 on the list but that survey may not be complete because it doesn't represent the total population. However still surprised that Nigeria is not in the top 5 with the rate of football bettors around.