Betting on sports is a popular pastime for tens of millions of people. Some gamblers place a single bet on occasion, while others place dozens of bets every week. Every one of them wishes to outperform the sportsbooks. However, the shocking truth about sports betting is that relatively few gamblers win. The same is true for most forms of gambling. However, sports betting are one of the few gambling activities where you have a realistic possibility of winning.
The appeal of using talent and relevant information to win at sports betting is understandable compared to casinos and slots. Yet, the complete picture isn’t quite so black and white and you learned the shocking truth about sports betting.
We’ll provide clarity to assist you to discover the complete facts about sports betting, including:
- How luck continues to play a significant role in the outcome of sporting events.
- The impact of a sportsbook’s margin on your sports wagers.
- Examining the theories and fallacies surrounding sports betting to help you differentiate fact from fiction and maintain control over your pastime.
Are you getting excited to become one of the profitable sports bettors in Singapore? If so, then you need to make sure you understand the unfortunate facts you’re facing with sports betting.
1. In Sports Betting, You Will Always Have The Odds Stacked Against You.
Like most other forms of gambling, sports betting also has a built-in house edge. This is commonly referred to as the vig that you need to pay when you place a bet. When you win, you get the vig back. However, you will lose both your base bet and vig when you lose.
Let’s say you need to wager $11 to win $10. In this case, the extra $1 goes to the sportsbook as the vig while the $10 will be your base bet. If you win, you get your $11 bet back plus a $10 profit. Otherwise, you lose your entire $11.
The vig is one of the several ways that the odds are stacked against you. Yet, it is not the only one around sports betting. In this article, we will also discuss how the chances are stacked against you as well. This includes the fact that the people who set the lines are better than you. Besides, sportsbook betting in Singapore has a larger bankroll than you.
Is It Possible To Change The Odds In Your Favor?
The truth about sports betting is that it is viable since some professional bettors can defeat the sportsbooks. However, there aren’t many people who can do it regularly. This is true for every gaming activity that can be won. In the long run, a few Blackjack players and a few Poker players can both win. However, the majority of gamblers lose in the long run.
You can become a profitable sports bettor if you want to. That is if you are also ready to work hard and put in the effort. However, there is a reason why the majority of sports bettors are average. It’s because changing is difficult and time-consuming.
2. Shocking Truth About Sports Betting: Bookies Are Better Than You.
Setting a line for a game that generates an equal amount of action on each side of the game is ideal for every sportsbook. When this occurs, the sportsbook secures a guaranteed profit because vig is collected on all losing bets.
Here’s an illustration:
Bookmakers set a line at 7 ½ points and then take $660,000 inactivity on each side of the game, including the vig. So, the total handle now is $1,320,000. Following the game, the sportsbook pays out the $660,000 on winning bets while $600,000 on losing a bet to the winners. This leaves the bookmaker a remaining $60,000 as their profit.
To simply put, the sportsbook earns about 4.5 percent of the total handle on a balanced game. This is why running a sportsbook in Singapore is so profitable.
In reality, bookmakers rarely have comparable action on both sides of a game. As long as the bookies set good lines and the more games they offer, the closer the overall action on each side of the game gets to even.
What Is The Shocking Truth About Sports Betting?
Most sports bettors assume that the lines set by sportsbooks forecast the final result. Yet, the truth is that the lines are designed to estimate how much action may be generated on each side of a game.
This is one of the primary reasons why only a few bettors succeed in the long run. If you can predict the conclusion of a game and locate lines that do not agree with your prediction, you can make winning bets if you practice enough. This is because what the sportsbooks are attempting to do is not the same as what you are attempting to accomplish.
Returning to the people who set the lines, they are dedicated to doing it full-time. Meanwhile, the majority of sports gamblers gamble as a pastime. This makes it nearly impossible to outperform the bookmaker when it comes to setting lines and forecasting outcomes.
Furthermore, this should also give you a good idea of what you need to do if you want to beat the bookies.
3. Truth About Sports Betting: Sportsbooks Have Bigger Bankroll Than You
Did you know that you had an advantage when you have a larger bankroll compared to your competitors?
The sports betting market operates similarly, and the bad news is that the sportsbooks have a larger bankroll than you. Moreover, the books also limit the size of your bets. So, even if you have a large bankroll, you may only use it within the limits set by the sportsbooks.
If you had a limitless bankroll and could place unlimited bets, you could double your bet after every loss. Then, lock in a profit when you win a game, which you can accomplish 50% of the time by flipping a coin.
On the other hand, sportsbooks profit from the vig they collect on lost bets. The bookies understand that on average, half of the bets they accept to lose, so they lock in a long-term profit by remaining in business long enough for the vig to build. This is where having a large bankroll, such as the sportsbooks, ensures a long-term profit.
The combination of the vig, the power to set and manage lines, the ability to limit betting action, and a sizable bankroll almost guarantees a sportsbook’s profitability. In reality, a properly run sportsbook with a large enough bankroll is one of the most successful and fail-safe companies you can be in.
Never doubt the power of a large bankroll.
4. Sports Betting Truth: In Isolation, Winning Percentage Is Meaningless.
Have you ever seen one of those ads in which a sports betting expert selling their picks? Perhaps you do, however, many of these commercials make exaggerated claims about their winning percentage.
Some sports betting experts claim to be able to predict winners 70% of the time.
Yet, how could you possibly lose money if you bet on his picks?
The shocking truth about sports betting is that some advertisements lie. Worst, others base their numbers on unrealistic assumptions. Do you want to see some examples of how anyone can predict a high percentage of winners?
Most games allow moneyline bets, which do not follow the standard spread concepts. A game with a spread awards points to the underdog while deducting points from the favored. The majority of these games are wagered by paying a fee known as vig. Here, you are selecting a team and either giving or receiving points.
However, a moneyline bet operates differently. You simply choose which team you believe will win.
The Truth About Sports Betting
Consider how often you’ve seen a really strong team play a really weak team. What if you could wager on the superior team and not lose any points? If you can find a moneyline bet, you can bet on a team to win. But here’s the twist:
The shocking truth about sports betting is that you have to pay a premium fee.
To win $100, you may have to bet $1,200. Moreover, you may have to bet significantly more if the team is a big favorite.
Furthermore, risking $1,200 to win $100 may appear to be a safe bet. Yet, if the underdog only wins once in 11 bets, you will lose money in the long run.
What does this have to do about winning percentages? Almost anyone can select moneyline games with large favorites. Then, win a substantial percentage of their bets.
However, they are still likely to lose money on those matches.
Besides, a high winning rate instead of on individual games is another trick. A high percentage of victories on a series of games is one fraud. After each loss, the con artist doubles his bet. He eventually triumphs. The series lasts as long as it takes to win a game.
Above all, most promises of high winning percentages from promotional services appear to be too good to be true.
They are, after all.
So, don’t get caught up in your own winning %. Rather, concentrate on how much money you win. It is preferable to have a lower winning percentage and higher earnings than to lose money with a high winning rate.
5. Sports Betting Truth: You Don’t Have To Win The Spread 60% Of The Time.
Many casual sports bettors may not consider how many games they must win to make a long-term profit. Rather, they place bets based on their level of comfort. Worst, they do not regard their funds as a bankroll, instead, they spend the money if they win. Also, they will use money from their other funds to place their next wager when they lose.
A decent winning percentage is defined by the average bettor. He’ll most likely respond with 60% or greater.
Only a small number of bettors can win 60 percent of their picks against the spread. Those that do, make so much money that they have no time to brag.
The good news is:
To make money betting on sports, you don’t have to win more than 60% of the time.
6. Anyone Can Be A Successful Sports Bettor
Do you want to learn how to become a professional and profitable sports bettor?
Work harder than the books require. Also, make the time and effort to create winning systems.
With the wealth of tools and knowledge available today, anyone can become a successful sports bettor if they are prepared to put in the effort.
Most people are unwilling to put in the time and effort. Be willing, even though it is easier said than done.
The Shocking Truth About Sports Betting: Being A Successful Sports Bettor Is Difficult
If you haven’t worked it out by now, becoming a profitable sports bettor is difficult. The truth is, it might be the most difficult thing you’ve ever attempted. It’s not that it can’t be done because certain gamblers can.
However, when you consider everything that’s working against you, we cannot blame you if you conclude it’s just not worth it. Most especially, if need to dedicate time and effort to start winning. You can stop worrying about handicapping games. Instead, start improving your skills and start betting on your favorite teams. Then, let the chips fall where they may.
Like most bettors, you can pick games and place random bets. Then, you can also experience winning and losing days. Besides, you will lose money in the long run. But, if you keep your bets at a sensible amount, you will not lose too much. Besides, there will be weeks that you will get lucky and end up ahead.
The Truth About Sports Betting Is That You Can Become A Professional Sports Bettor
If you want to be a successful sports bettor, you must remember what you learned on this website.
- How will you overcome the fiscal deficit?
- Can you get enough action on games to make it worthwhile?
- How to find enough good games to bet on?
When you have good answers to these questions, you may begin working on improving your talents. If you want to win, you’ll have to outwork the bookies. You can do it by knowing the best Singapore soccer betting odds to bet on. Also, start handicapping every game on the schedule every day and keep track of your progress.
In addition, you can begin looking for ways to place bets with a lower vig. This is one of the best ways to boost your outcomes as it reduces the cost of placing bets. It’s the same as winning a bigger percentage of your bets if you can place some bets with no vig.
Furthermore, winning sports bettors look for every technique to increase their earnings. In addition, they practice their handicapping abilities. Professional sports bettors also look for the best lines and opportunities to place bets with low or no vig. Likewise, they are continually looking for simple methods to put more money down on games where they believe they have an advantage.
7. Betting On Sports Can Be Addicting
Sports betting may become addictive to anyone, and YOU are not exempted from this. Don’t make the mistake of believing you’re immune; you’re not. Nobody is. It makes no difference how intelligent or smart you are. It’s all too easy to get carried away and allow things to get out of hand. Any type of gambling can have this effect.
We’re not trying to scare you away from sports betting. We simply want you to be aware that addiction is a risk. If you have an addictive nature or lack discipline, please consider whether this is the correct interest for you.
Sports Betting Truth FAQs:
Vig, margin, overround, juice, and house edge are all phrases used to describe the profit margins that sportsbooks and bookies include into their odds. Instead of having the chance to double your money in a heads or tails scenario, you will usually win between 2 and 10% less. It may appear unfair to have to gamble when you are up against a margin. However, if such advantage did not exist, a sportsbook would do little better than break even in the long term.
Although sports betting can be profitable, which is why sportsbooks exist. Yet, the vast majority of bettors lose money. Sports betting is not always successful because the vig works against you.
Betting solely to have activity is never a good idea. It is risky to bet on 10 or 15 games per night. You’re taking a huge risk, and one bad night might wipe out your entire fortune. Instead, bettors should remain disciplined and restrict their wagers to their most confident games of the day.