Sports betting is a billions dollar industry by itself, with billions riding on games no one can accurately predict. With that comes lots of exploited human weaknesses, and those weaknesses are typically built into the very fiber of a program’s programming.
8 Top Sports Betting Myths
- Most punters bet with their emotions
Why? Because they have a feeling or a gut feeling and are simply wired to bet like that. Half the time they even know in their heart they are playing a losing game, or may very well be gambling is a losing game.
- Or they compare themselves to other gamblers
This is the same old can’t lose scenario. You are either going to win, or you are going to lose, so why not just enjoy the game more. Sure, you can argue that you are a better gambler than some other player, but is that really the point? Can you really put another chip into your pocket knowing that you are going to lose it back to the casino a few minutes later?
- They drink too much
With alcohol, personal biases and emotions can take over and players can start betting with their emotions instead of their intellect. You want to keep your head on straight, you want to stay calm and collected in a very charged game. If you drink too much, you are going to be impaired and this will definitely affect your betting and play.
- They don’t back off once they have lost
This is the most common of myths. Once you lose, you have to stay in the game to “Dewavegas” otherwise you are risking your own financial trouble. Many players get defeated and enter a discussion with the opposite impulse, betting large sums of money to “make back” the money they “lost” to the casino. This strategy is a classic example of betting with the mentality of “we are not going to lose again, so we should double up now.”
- They chase losses
This is another common mistake, and it usually occurs when someone is losing heavily and they still “chase” their losses by placing larger bets. Perhaps, if they had taken an attitude of education and insight, they might have realized that perhaps their last run was not a trend, but a ruin. Chasing losses is a losing strategy and is not necessary, so never do it.
- they use Gamblers Anonymous
For those who have suffered continuous losses at the game, the suggestion, use of Gamblers Anonymous is a welcome alternative. Not only are you able to talk to others about your dilemma, but you are also able to prepare a suicide tactic in case you are apparently on a losing streak, or having trouble with your family and friends.
- They spend more time gambling than investing
Certain gamblers spend more time gambling than investing, and yet still don’t make any progress. If you find yourself doing this, it is time to take a break, and consult with your financial advisor.
- They become too greedy
It’s easy to get caught up in gambling when you’re winning, and too greedy to walk away. Part of the reason is because the thrill of the win seems so great, and it feels so right. When you start to see patterns of gambling, like repetition or repetition in your betting, look for ways to control it. Maybe you can’t control it, but taking steps to prevent it is the way to go.
Follow these eight basic steps and you will beat the casino and enjoy your wins. The smart gambler knows the best place to put their money at risk that will benefit them the most.