subject: Factors Responsible for Losing in Sports Betting [print this page] Factors Responsible for Losing in Sports Betting
Betting is an age old phenomenon which was been practiced for decades. In America, the earliest forms of betting known were the wagers placed by colonists on fighting, horse racing and even cock fighting. Later with the rage of baseball, this game became extremely popular among bettors and that trend has been maintained until today, closely followed by football and basketball.
Nowadays, with the introduction of online sportsbook, more and more people are joining the league of sports bettors. However there is a general conception that the majority of sports are bound to lose money. Many people even believe that about 90 percent of sports bettors are bound to lose money in the course of a year, nevertheless this belief doesn't stand in the way of bettors and they still continue to make their wagers. The fact remains that if over time these bettors are not able to continue betting due to financial constraints, there will always be someone else to fill their place.
There can be several factors that are responsible for the loss of bettors over and over again. The main reason behind losing is poor money management. Even if a bettor is able to pick winners, if he is not good in managing his bankroll then he may tend to bet more than he should and end up losing big time. Moreover, most bettors have the tendency of doubling up their stakes on sports odds after their wins or losses, and subsequently end up losing heavy amounts.
Another reason behind the disappointments faced by most bettors is their wrong choice of sports or events they wager on. Football and basketball are by far the two major sports in betting at most online sportsbooks, receiving large amount of money on betting odds. However, most bettors believe that they are among the toughest sports to bet on as well and are not a good option for long-term profit. Most professional bettors opt for baseball and hockey betting, which ranks way below the top two sports in terms of amount of money received. The fact that these two sports can give long-term profit is often overlooked by most bettors and they continue betting on basketball and football instead for short term gains.
Furthermore, many sports bettors think that they can pick winners easily because they know the sport very well. But what they don't realize is that being aware of a sport is very different from being knowledgeable in sports odds or betting odds. Thus it is always advisable to seek the sports selection services provided by online sportsbook, to enhance your chances of winning consistently in sports betting.
