Why do 90% of Bettors Lose in Sports Betting in the Long-term?

[alegotardo]

Re: Why do 90% of Bettors Lose in Sports Betting in the Long-term?

Responding directly to the title...

I would say that the long-term problem with sports betting is a sum of several factors....

First, because it is difficult to obtain bets that are advantageous when we consider a probable winning scenario, and betting on the unlikely is "financial suicide".

If profits are low, losses are always high, making just one loss enough to drain profit from up to five winning bets in a row.

Even if sports betting is based on a real event, from which we can scrutinize data, raise statistics and minimize risks, there will always be a game in which everything will go wrong and go against predetermined standards.

I believe that the days of making money with sports betting are over, currently I play just for fun and eventually make a "crazy" bet relying on luck.

[qwertyup23]

Re: Why do 90% of Bettors Lose in Sports Betting in the Long-term?

Even if sports betting is based on a real event, from which we can scrutinize data, raise statistics and minimize risks, there will always be a game in which everything will go wrong and go against predetermined standards.

I believe that the days of making money with sports betting are over, currently I play just for fun and eventually make a "crazy" bet relying on luck.

I agree with your statement.

In this day and age where the internet has access to multiple AIs that can make everything convenient, it is also a double-edged sword when it comes to betting. Sure, you may have all the raw data on a specific team which may provide better chances of winning but the odds are still too low for you to receive profit.

Odds are created in order to somehow balance two (2) opposing teams and the bettors. One team may be dominant with another but the odds represent the amount of profit you may receive when such team won. In this kind of structure, you are somehow forced to bet on the "weaker" team due to the overwhelmingly odds they give if they win.

The only thing that I see sports-betting profitable is if two (2) teams, which are somehow same in strength (thus balanced odds), are fought with each other.

[dothebeats]

Even though we have scraped and collected data from past events on sports, there are still quite a few exceptions that will make the 'informed' bet lose. Say, there are last-minute injuries or changes to a team's composition which will definitely affect how they play, that is already something that will make a bet lose no matter how close your informed bets are to the statistics the teams are presenting. There are outliers, and there are also just some bets that were analyzed too much that simple factors were missed which makes the bettor lose. Also, chasing losses and losing self-control helps in making the bettor lose their bets. Overall, there's just a lot of factors out there that will definitely hurt the bettor in sports betting. Some say that luck isn't a factor in this type of gambling, but truth be told, it still is.

[pawel7777]

Even though we have scraped and collected data from past events on sports, there are still quite a few exceptions that will make the 'informed' bet lose. Say, there are last-minute injuries or changes to a team's composition which will definitely affect how they play, that is already something that will make a bet lose no matter how close your informed bets are to the statistics the teams are presenting. There are outliers, and there are also just some bets that were analyzed too much that simple factors were missed which makes the bettor lose. Also, chasing losses and losing self-control helps in making the bettor lose their bets. Overall, there's just a lot of factors out there that will definitely hurt the bettor in sports betting. Some say that luck isn't a factor in this type of gambling, but truth be told, it still is.

That's true, but the idea behind researching and analysing in sports betting is (or at least should be) not to win every single bet, but to be profitable in the long-run.
So, depending on the type of sports you bet on, you could either completely discount any exceptional events (injuries or other unforeseen things) as they won't matter in the grand scheme of things, or, if such events are likely to happen and can have a tangible effect on your results, you need to account for them when calculating your odds.
And another thing to consider is that such things could also work in your favour, i.e. if something bad happens to the team you're betting against, it all should balance-out.

[maydna]

<snip>
If you only guess which team will win in a match, it won't work because each one has the same chance. But it will show when you analyze each team that you will find more info about them. You will see how each team is performing so you will be able to choose the right team.
-

Sports betting doesn't only offer choices between the winning and losing teams. There are also a bunch of other bets related to the game, such as which side will score the first point, the combined score, the number of points a player will make, or whether a specific scenario will happen. These types of bets are often more difficult to predict, which is why many people end up losing money from betting.

Indeed there are many, but it seems to guess or predict, as you mentioned, it will be much more difficult and requires advanced skills or can get even more information. And the most commonly chosen is sports betting which offers a selection of winning and losing teams, so it doesn't require more information. But if someone feels he can predict everything you say, he can just bet on other bets to get more wins.

[Jawhead999]

Even though sportbetting is a skill based game, but you still need a luck about it because you're not the one who play in the game. The problem arise isn't because of pick a wrong betting option, but the risk of the casino froze your money, the risk of account limit, the extra fee withdraw etc that make you can't get the full profit you made. Not to mention sometime the casino might act unfair for voided your bet etc.

[3meek]

<snip>
If you only guess which team will win in a match, it won't work because each one has the same chance. But it will show when you analyze each team that you will find more info about them. You will see how each team is performing so you will be able to choose the right team.
-

Sports betting doesn't only offer choices between the winning and losing teams. There are also a bunch of other bets related to the game, such as which side will score the first point, the combined score, the number of points a player will make, or whether a specific scenario will happen. These types of bets are often more difficult to predict, which is why many people end up losing money from betting.

Indeed there are many, but it seems to guess or predict, as you mentioned, it will be much more difficult and requires advanced skills or can get even more information. And the most commonly chosen is sports betting which offers a selection of winning and losing teams, so it doesn't require more information. But if someone feels he can predict everything you say, he can just bet on other bets to get more wins.

If you're into sports betting, more information is always needed... Even if you intend to bet on one of the teams to win or lose, you still need to research a lot of statistics, such as personal meetings or recent home and away games of one of the teams... There are always so many nuances in betting... So even betting on a simple result is always subject to careful analysis...

[justdimin]

Part of the problem here is the people are fooled into thinking that 90% of people who place bets are losers. That implies that 1 out of 10 people are winners, which many gamblers would be happy to take. In reality, for most non-skill based games you will find that 99.9% of people are losers, or a figure closer to that. As it comes down to simple math at the end of the day, take slot games for instance - people see a RTP figure of 95% and think that means they have a big chance of winning, but really it means you will on average lose 5% of your bet each time you gamble and ultimately it will drain away your balance until it reaches zero. Sport bets also have a comfortable buffer, or margin of error, built in for bookmakers who are equally very shrewd and constantly improving their prediction software to outplay you.

Isn't it true? We always hear that house has the advantage and then there is a house edge in which a bettor will just lose in the long term of playing a gambling. Only a tiny percent of people can get lucky some times but it's okay because gambling is not about earning a profit anyway but it's about having fun and passing the time.

We should only use small amounts for it so that we won't mind our losses and we won't get addicted in the game. What you said about slot is true and I was one of those people who believe on it but even so, I was still prone to losses. Never tried sports betting yet but its winning rate must be higher than slot and other luck-based games.

[ultrloa]

<snip>
If you only guess which team will win in a match, it won't work because each one has the same chance. But it will show when you analyze each team that you will find more info about them. You will see how each team is performing so you will be able to choose the right team.
-

Sports betting doesn't only offer choices between the winning and losing teams. There are also a bunch of other bets related to the game, such as which side will score the first point, the combined score, the number of points a player will make, or whether a specific scenario will happen. These types of bets are often more difficult to predict, which is why many people end up losing money from betting.

Indeed there are many, but it seems to guess or predict, as you mentioned, it will be much more difficult and requires advanced skills or can get even more information. And the most commonly chosen is sports betting which offers a selection of winning and losing teams, so it doesn't require more information. But if someone feels he can predict everything you say, he can just bet on other bets to get more wins.

If you're into sports betting, more information is always needed... Even if you intend to bet on one of the teams to win or lose, you still need to research a lot of statistics, such as personal meetings or recent home and away games of one of the teams... There are always so many nuances in betting... So even betting on a simple result is always subject to careful analysis...

This is really needed especially if you want to win using your own efforts made. But to many bettors are lazy tk do this since they want an easy way to make all their plans to happen. This is why they easily believe those claims of sports betting signal providers and get scam by those people. If they could just do their own research and take note about what you mention for sure they can do proper analysis and increase there chance to win on their places bets on sports.

[FanEagle]

Value betting is a lie that has been told to some people and that's it. It is not going to be guaranteed that it is a value bet to start with, aside from that we are not going to see regular results like expected neither. All these are expecting people to bet on things that make sense, and I understand it, but then we could have unexpected results back to back for a very long time that crashes your bankroll and you can't get it back.

It's like people think betting has a sure thing but it is created to make you lose in the end, so not 90% but 100% of the gamblers eventually lose long term. Some of them do win it time to time but that doesn't mean that we are going to end up with a good result eventually, it just means we are going to see it change.

[3meek]

<snip>
If you only guess which team will win in a match, it won't work because each one has the same chance. But it will show when you analyze each team that you will find more info about them. You will see how each team is performing so you will be able to choose the right team.
-

Sports betting doesn't only offer choices between the winning and losing teams. There are also a bunch of other bets related to the game, such as which side will score the first point, the combined score, the number of points a player will make, or whether a specific scenario will happen. These types of bets are often more difficult to predict, which is why many people end up losing money from betting.

Indeed there are many, but it seems to guess or predict, as you mentioned, it will be much more difficult and requires advanced skills or can get even more information. And the most commonly chosen is sports betting which offers a selection of winning and losing teams, so it doesn't require more information. But if someone feels he can predict everything you say, he can just bet on other bets to get more wins.

If you're into sports betting, more information is always needed... Even if you intend to bet on one of the teams to win or lose, you still need to research a lot of statistics, such as personal meetings or recent home and away games of one of the teams... There are always so many nuances in betting... So even betting on a simple result is always subject to careful analysis...

This is really needed especially if you want to win using your own efforts made. But to many bettors are lazy tk do this since they want an easy way to make all their plans to happen. This is why they easily believe those claims of sports betting signal providers and get scam by those people. If they could just do their own research and take note about what you mention for sure they can do proper analysis and increase there chance to win on their places bets on sports.

Various channels on Telegram or Twitter with tips on sports betting, it's a surefire way to lose your deposit... But sometimes bookmakers make a trap for gamblers themselves... For example, when they give very high odds on a team which is stronger than the opponent... So some gamblers, who didn't do any research before the game, bet on the team where the odds are smaller... They end up losing...

[QueenVera]

To break free from the cycle of losses, the gambler has to gamble qualitatively. Have a budget, set a time frame for gambling and do not go above your budget or the time you have allocated to gambling. Have other outdoor habits too. These are the starting points or the baby steps that should be taken to break free from the cycle of losses.

Your solution would be helpful to gamblers but will be hard for gamblers to do, gamblers are known for gambling continuously without taking break. It isn't the best practice but still gamblers do it with hopes of winning as they believe the more they gamble the higher their chances.

Exactly mate, it is always very difficult  for a gambler to implement having a budget and I always have to relate gamblers to traders in this very space because it is very difficult for a day trader to have a daily budget as it is always believed that the more he or she trades, the more chances they have to win and that also applies to what a daily gambler believes especially those of them that play virtual soccer.

Addiction is already a very wide issue we're  still battling in the gambling industry and one major reason that leads to addiction is chasing after losses and is should be a gospel to ne preached against.

[madnessteat]

^

In order not to chase your losses you need to understand one simple truth - gambling is an entertainment which, like all other entertainment requires you to spend money. Many gamblers perceive gambling as an opportunity to make easy money, but in fact this is a misconception and to understand it is enough to have an average education. In general, chasing his losses is a sure sign that the gambler has a gambling addiction and he needs to pay attention to it.

[dezoel]

I have no trouble believing that those 90% would also be applicable to those wo engage only in sports betting. Most of people would not make any deep analysis to give them an upper hand. And even if you do run proper research and analyses, it still doesn't guarantee you'll have a mathematical advantage. Even if your analysis is spot on, it'll only help you to determine odds for an event, but then you'll have to find a bookie who (according to you) miscalculated their odds, so you could take advantage from the difference.
Making constant profit from sports betting is really hard, it only works fine for arbitrage betting, but you can get banned really quickly if you do that.

It's understandable because no matter what, it's still a part of gambling and one cannot win constantly in gambling, but those who are good at doing research and analysis and have a lot of experience and knowledge about a particular sport, can always be profitable in sports betting because these things actually matter, maybe not everyone is good at them but those who are, tend to win more than they might lose.

And arbitrage betting is a totally different thing altogether, and even those who are experts in sports betting might not be able to pull up arbitrage bets sometimes because it's too risky and it requires a lot of time since you will need to search for different sportsbooks offering the same match with slightly different odds along with the research you usually do about the teams.

[klidex]

^

In order not to chase your losses you need to understand one simple truth - gambling is an entertainment which, like all other entertainment requires you to spend money. Many gamblers perceive gambling as an opportunity to make easy money, but in fact this is a misconception and to understand it is enough to have an average education. In general, chasing his losses is a sure sign that the gambler has a gambling addiction and he needs to pay attention to it.

Maybe this will be more suitable for this type of betting casino game because in every casino game it can be considered as entertainment trying strategies to be able to win and lose is a common thing.
But for sports betting, many gamblers think that this bet is for profit because it is more predictable and less dependent on luck.

[STT]

That seems to suggest that a lay bet of the same bets would make people alot of money.  Do both and just place the larger amount of value with what has tended to work in the past, lay or bet.   Then you can have fun betting and also make money at the same time.   Im usually betting on a team or sport I would watch anyway, its for fun not the idea Im somehow on my path to riches because I like to bet on a match every now and again; people are kidding themselves too much.

[kamvreto]

That seems to suggest that a lay bet of the same bets would make people alot of money.  Do both and just place the larger amount of value with what has tended to work in the past, lay or bet.   Then you can have fun betting and also make money at the same time.   Im usually betting on a team or sport I would watch anyway, its for fun not the idea Im somehow on my path to riches because I like to bet on a match every now and again; people are kidding themselves too much.

only a few or just lucky they do the same bet and then make a lot of money. See how many lose when they make the same bet, it's all just luck. Sports betting is also affected by how strong the teams are playing. If you support your favorite team but you know your team is under the opposing team, it will not make you happy when your team loses. Haya results in losing and not having enough fun. I'm not going to do that, just be more realistic. Support the team that has more potential to win because we are only looking for profits in the end.

[cryptomaniac_xxx]

Re: Why do 90% of Bettors Lose in Sports Betting in the Long-term?

Responding directly to the title...

I would say that the long-term problem with sports betting is a sum of several factors....

First, because it is difficult to obtain bets that are advantageous when we consider a probable winning scenario, and betting on the unlikely is "financial suicide".

If profits are low, losses are always high, making just one loss enough to drain profit from up to five winning bets in a row.

Even if sports betting is based on a real event, from which we can scrutinize data, raise statistics and minimize risks, there will always be a game in which everything will go wrong and go against predetermined standards.

I believe that the days of making money with sports betting are over, currently I play just for fun and eventually make a "crazy" bet relying on luck.

I don't think it's over though, perhaps as you have said it could be a combinations of many factors that is beyond our control. There are a lot of parameters to be noted, maybe just basing on the odds might not be enough as there are underdogs that can win a match.

The most difficult part though is that if we make parlay bets, a single bet might be difficult already, but if you parlay and combine games and because you are looking for a good hit then this might not be suitable as the total accumulation of losses could be huge in the long run as well.

[borovichok]

That seems to suggest that a lay bet of the same bets would make people alot of money.  Do both and just place the larger amount of value with what has tended to work in the past, lay or bet.   Then you can have fun betting and also make money at the same time.   Im usually betting on a team or sport I would watch anyway, its for fun not the idea Im somehow on my path to riches because I like to bet on a match every now and again; people are kidding themselves too much.

Winning has a cost, and one of them is consistency and familiarity with the gaming system. For me, I am familiar with the challenging teams that surround the league on which I wager, which is the English Premier League. Although it's a tough league, certain things can guarantee to happen. Manchester City cannot lose ten games in a season, and their chances of winning every game are likely to be 80%. As you can see, the majority of my gambling targets are aimed directly at the cityzens, and I'm confident that each game wager in favor of Manchester City has an 80% success rate, higher than any other club in the league, with these simple strategy, making money from gambling quite easy.

[swogerino]

I would also add the lack of patience sometimes.This happens when someone of us hits a win in sport betting and immediately think of betting the winning amount back in order to profit more.This though does not let most of us to think clearly because of our added adrenaline at that moment and we most likely lose some money,we try to chase back losses and we end up losing more.So based on this patience plays a determinant role in sport betting as based on it a good sport bettor can be in continuous winning bets if he does not rush and want to bet further and further without much study of the events.