October 12, 2022
Once viewed as a taboo topic, betting is now the new norm in the sporting industry. People have placed wagers since ancient times, with early Greek and Roman accounts showing that people used to place bets on athletic and gladiator battles. In recent years, online sports betting has evolved into a popular pastime, where bettors place wagers on sports events to accurately predict the outcomes of different games and possibly make some money.
Over the years, the mainstream and social media have often tried to point out some loopholes in sports betting. While some observations might be valid, a good number holds no ground. This, in turn, has created some fertile ground for various myths to take root. There is always a likelihood that anyone into sports betting has come across several myths, most of which are untrue. So, without further ado, this article seeks to debunk some of the biggest myths in sports betting.
In recent years, online sports betting sites managed to make themselves look like an authority. For instance, whenever high odds are not confirmed and many bets are lost, most bettors are compelled to think that bookies had already foreseen the outcome.
In truth, bookies are only individuals operating some software who are equally prone to making mistakes and false estimations. As a result, on some occasions, they are bound to overlook some critical details. This is usually common among lower-tier leagues, and some intelligent bettors are usually ready to pounce and make a ‘kill.’.
Some people have a history of making a series of correct predictions when betting on sports. In truth, whoever reaches a point of sharing their predictions tends to be more successful than an average player. Instead of spending days analyzing teams, most players opt to subscribe to a tipping service. A common myth among players is that tipsters offer a sure way of winning, which is largely untrue.
In truth, any professional tipster is just like anyone betting on sports. The only difference is that they spend long hours trying to pick matches, given that this is their day job. However, this is not any assurance that they will reliably give correct predictions. After all, they are people with their hits and misses.
Sports bettors are made to believe in the existence of some external influence that manipulates game outcomes. As such, bettors who dream of realizing profitable sports betting often view every major upset as irrefutable proof that ‘matches are fixed.’
In truth, it is almost impossible for a bookie to fix the outcome of any match. After all, most professionals out there are focused on maximizing their success and not some average payout. Moreover, the authorities keep vigil and take all known measures to ensure that such practices do not have any space in modern-day sports. So, yes, there might be bad calls, tactical inconsistencies, or players underperforming, but the chances of influencing a particular decision are meager.
There is a common belief that large bankrolls help unlock wins. This myth is often prevalent after a good weekend when most of the favorites have won their matches. In soccer betting, if a player wagers $1,000 on Arsenal to win at home with odds of 1.2, they can easily pocket $200 on a good day, unlike backing the underdog with an odds of 5.00 and staking $50. The ‘large bankroll notion’ often makes individuals fall into a trap of self-loathing, especially when seeing a big spender make huge profits quickly.
In truth, a large bankroll does not make it easy for a player to win. For a fact, the risk is, by far, too significant for a high roller. Therefore, any bettor should exercise caution when facing the temptation to bet large, as this could have profound financial implications.
Put differently, the more a particular bet is wagered on, the lower the chances that the prediction will manifest. Interestingly, there is a common acceptance that experienced bettors are always a step above casual bettors. As such, most experienced bettors tend to go against the public automatically.
In truth, there are hundreds of ‘overloaded matches’ where the favorites emerge victorious. Statistics show that the most successful bettors have a win rate of 53 -55%. Therefore, not siding with the public just because 70% of the bets are home favorites is ill-advised.
It is surprising to see many bettors fall for common myths. Instead of listening to ‘baseless’ facts that aren’t justified by statistics, the best thing a player can do is to do due diligence on their part. Success in betting is usually about making informed choices. So anyone betting on sports should always be keen on following knowledgeable sports betting tips based on objective analysis.
Matteo "Teo" Bianchi, hailed as BettingRanker's "Data Dynamo", is the quintessential combination of a sports enthusiast and a numbers whiz. His meticulous research ensures bettors are always a step ahead, making him a cornerstone of the platform.