These Four Factors Cause Most Sports Bettors to Lose
Most sports bettors lose money over the year on betting different sports. Around 90% will lose more than they win but that does not stop them from wagering on sports. If they go broke and stop for a year or two, somebody else will take their place.
The most obvious reason why bettors lose is not poor picks but poor money management.
There are many bettors who can pick winners but do not follow any money management scheme. Betting smaller to higher amounts of money is a losing proposition. Picking more winners at a lower amount and losing the higher bets is an easy math problem to figure out. Bettors winning 60% of their bets and losing money is a lesson in futility. A sports bettor will win a few big scores when betting more than they should but the ultimate high will not last and bettors end up in trouble. They forget to take their emotions out of the score and stay level headed.
Doubling up after wins and losses is a bad betting habit and a common mistake most bettors make from a lack of discipline. All good sports betting books have a chapter on money management skills because it is considered a road to success or failure. But how many people practice sound money management habits in all walks of life. People waste a lot of money on all types of entertainment but to keep playing you must get a handle on money management and your sports betting limits.
College and Pro football and basketball are the two major sports people bet on more than other sports. Most long-time sports bettors acknowledge those sports are the hardest to show long term profits.
The sport of choice for most professional gamblers is baseball which is third on the total money betting list. Hockey is next of the four major betting sports. A sports bettor can be stuck on football and basketball, but choosing the right sport is another factor for success. If baseball or hockey is not to your liking, find a good baseball or hockey handicapper and follow their plays.
Lack of knowledge is another deciding factor to reduce your bankroll. Most sports bettors know the sports stats and rosters of all the good teams and can recite all types of information with other bettors. Being able to name the offensive and defensive players of certain teams will not help anybody win a bet. There is a big difference between knowing the NFL and being knowledgeable about NFL betting. How many retired pro players know their game but cannot handicap a point spread or total points. Do not think you can bet successfully because you are a walking sports encyclopedia. Those guys are usually very poor handicappers.
The old sports betting joke of a bettor who losses every week and paying his bookie each time. Finally, his bookie feels sorry for the guy and tells him he might want to try betting hockey for a change. The losing bettor responds — “Bet hockey!, are you kidding me. I do not know anything about hockey”.
Betting on to many TV games is another common error in the betting process. Just because it is televised you do not need to bet the game. With so many more games on TV than a decade ago, bettors can over extend their betting action and budget. These four factors to exert some discipline and control over will always stand the test of time.