10 Common Sports Betting Myths

Sports betting is the process where bettors try to predict and make money by placing a bet on a sports event. Despite the public opinion that betting and gambling have the same meaning, there are significant differences; betting is legal in most countries worldwide, and you need deep sports knowledge and skills to be successful. Due to its popularity, there are several misconceptions involving bettors, local bookies, and even the top 5 betting sites; these stories became accepted and quickly spread without a legitimate explanation. So, let’s notice and analyze the most popular sports betting myths around one of the fastest-growing industries globally.

Sports Betting Myths: Have they a grain of truth?

BMB_Question MarkIf you are a newbie in the wagering world, you will certainly hear or read about these sports betting myths currently prevalent among bettors. What is fixed match? Do bookmakers fix matches? Does sports corruption affect betting? Are there experts outside who can secure you a winning streak? We aim to tell you all the naked truth, analyzing at the same time the main principles of sports betting.

Bookmakers fix matches

“There’s a bookmakers’ global order that manipulates virtually every match to award the least possible winnings.” This is the main speculation among people developed by conspiracy theorists, from betting for newbies to professionals. Understandably, when you lose due to an upset result, to believe the match you bet on was fixed. However, bookies don’t fix matches because they don’t have to. They secure massive profits through overround, meaning that they only care about increasing the amount staked on each sports event. So, betting sites are fierce enemies of fixed matches. Moreover, a football or a basketball game is unpredictable because numerous factors can affect it. So, a major upset, where the underdog may win the favourite, doesn’t mean match-fixing.

Bookmakers always win

BMB_FavouriteThere’s no doubt that the biggest bookmakers in the world have a higher chance of winning against bettors. They pay the VIG to place a bet; this is their main profit, giving the house a more significant edge. It would be best if you thought that, regarding wagering, betting shops and sites aren’t charity trusts. Are you ready to read the gospel truth? If bookmakers were undefeated, none in the world would indulge in trying to make money from something impossible to happen. So, get a deep understanding of sports betting, and learn more about odds, sports rules, and strategies.

Bookies are humans; like the rest, they make mistakes and misjudgments. Sometimes, they don’t pay attention to critical details that can help predict a match result more accurately. If you set your sights on a league, especially a less popular one, you will notice that this happens almost daily. Although it may sound cliché, betting is also a mind game; it's the bookie against you. Undoubtedly, the bookmakers have experience, knowledge, software and a sense of the market, but a smart bettor can exploit them.

Professional tipsters are the safest way to win

BMB_Markets GenericBetting predictions are a valuable tool for bettors to be informed and stay sharp when facing a lousy streak. So, it’s critical to pay attention to what the professional tipsters have to say but not with blind faith. Your judgement and personal opinion should be the last word before you place a bet. Experts, who earn money from tips selling, are neither better nor wiser than you. Their only advantage is that they can afford to spend more time picking matches because that’s their day job. Apart from that, they are ordinary people with ups and downs, hits and misses. If you can invest enough time to research the right bets, you can quickly become a pro tipster.

Public opinion is always wrong

ΒΜΒ_ACCA ΒetΕven if you are a beginner in betting, you certainly read or heard sports betting myths about the total stake a match gathers. According to these, the more money a specific bet receives, its winning chances are diminutive. Among the top stories, this is one of the conspiracy theorists’ favourite. They insist that bookies are allegedly fixing a few selected matches in order to split the big pot themselves.

Hundreds of overloaded matches occur weekly, most of which the favorites emerge victorious. Humans are suspicious by nature, but upsets happen week in and week out, regardless of how much money is staked on popular bets. However, betting against the consensus is one of the most known strategies. The contrarian method has main principles; a. Public opinion can be easily influenced by media or other factors, b. Bookmakers love popular bets, earning a lot of money after a major upset, and c. Fading the public is always profitable. Our last word is that the crowd isn’t always wrong but hasn’t always been right.

Sports online betting is not legal

BMB_Research IconThe truth is that not every nation allows sports betting, but this isn’t a worldwide act. Especially in the last decade, states in the USA and sovereign nations have decided to establish frameworks for legal sports betting. Federal laws were created to legalize sports wagering, shaping gambling forms for older and new betting sites and bettors. Meanwhile, bookmakers are currently the main sponsors of huge sports events, trying to promote their ethical and legal face and street cred. So, betting is legal in big countries like the USA, the UK, Australia, South Africa, Hong Kong, and the European continent.

Bookmakers will ban you if you win

BMB_StopDo you know someone who relishes defeat? Do betting companies refund for a mistake? The common answer is, “No way.” Undoubtedly, bookies love losers, trying to protect their profits from winners. When bettors win in the long term, they start setting limits and some necessary restrictions for their viability. Understandably, bookmakers feel precisely like us when it comes to losing money. They can abide it happening for a short time, but if it becomes the norm, they will try to cut their losses. However, they can’t ban you because you will consistently. They will keep tabs on you, but unless you are cheating or arbing, they can’t close your account without permission. That will happen if it’s established that you abuse the system.

Bookmakers use the same odds

BMB_Implied OddsOne of the false sports betting myths refers to the prices that betting sites offer. It’s a lie, as different betting sites, even scam bookmakers, don’t operate the same odds set in any given event. There are specific reasons that prove the conclusion; every bookie tries to be competitive and attract bettors, offering higher prices than others on particular matches or sports. Secondly, based on practice, there’s an accurate principle in betting that every bettor should compare the odds provided by bookmakers to find the best prices; sο the best prices exist out there, and everyone must evaluate them before staking money.

No one wins in the long term

ΒΜΒ_UnderdogsThere’s no question that you need luck on your side, but winning in sports betting is attributed to far many more aspects. There’s a huge difference between betting and slots, roulette or even Blackjack; the odds aren’t derived by pure maths but by actual humans who make mistakes. It’s up to bettors to exploit these misjudgements and make a profit from betting. Online sports betting isn’t a lottery; you pick winners after your homework, evaluating the odds. You adopt a strategy and choose your favourite sport, influencing the winning chances. If you are loyal to the principles, you can win in the long term.

High odds betting doesn’t work

BMB_Betting_OddsThe truth is that betting on low odds is less risky and more predictable because you bet on teams or possible outcomes with more winning chances. However, betting on high odds and winning is still possible if you pick the best matches, where the underdog can beat the favourite, and lucrative prices. Nothing is guaranteed in betting, but the higher your odds, the higher the earnings you can win by placing your wagers. It all comes down to odds and winning frequency. If, for example, you bet on 4.00 odds and have a 30% winning ratio, you are making a profit. On the other hand, if you win half your bets on 1.80 odds, you are losing money.

You can win big with a big bankroll

BMB_BankrollWhoever places a bet once in his life knows that a big purse to wager is a double-edged sword in betting. Making a profit with a big bankroll is as tricky as betting with a small amount of money. If you are a high roller, the risk is much bigger, given that one lost bet can seriously impact the money you need to cover your everyday needs besides betting activity. It would be best to be very careful when staking high, as this can negatively influence your physical and mental health; using our bankroll management calculator is a good tip. Overall, spending big on betting doesn’t mean that the rewards will be equal. The winning ratio counts more when it comes to betting consistency.

Where to bet legally & with safety

Are you interested in betting? Check our list of top sports bookmakers where you can place your bets legally and safely. Observe the top betting sites for all available sports, pick the most competitive odds, and bolster your bankroll.

FAQ
Q: Is it easier to predict totals instead of match results?

Some bettors believe they have more theoretical chances of winning when choosing between two possible outcomes instead of three. If you pick a team to win, your chances stand at 33,3%, while an O/U bet offers 50%. In theory, this is true, but the odds meaning is vital in betting also. So, finding odds that exceed your potential winning chances is also essential, even if you back winners or total bets.

Q: Do you lose more bets than you win due to late goals?

No one on planet earth hasn’t a story to tell you about losing money due to a late goal. There have also been many times when you have won a bet due to a late goal. Undoubtedly, luck is an essential factor when it comes to betting. So, it would help if you didn’t count how many bets become losers due to late goals or shots in basketball. Check what to add to your betslip and avoid, for example, placing under bets on high-scoring teams.

Q: Do statistics speak the absolute truth about sports events?

Stats and trends are a crucial part of your homework before placing a bet. You can learn about the teams’ and players’ profiles but remember; there are also several other factors that you should consider. The betting odds, the range of markets, the current form, the home advantage, and the injury news are some of them.

Q: Do you face the danger of getting cheated in betting?

Nowadays, finding the source of probable fraud is easy via the IP address and the device location. Online betting sites operate under specific and strict protocols, where all payments proceed with secure links. Bookmakers are heavily encrypted to these activities, so it seems complicated to face a cheat when wagering online.

Q: What is the trick to sports betting?

You should fulfill some requirements to be a successful bettor, so no magic tricks are needed to make money. To control your bankroll, knowing your break-even rate is crucial while choosing the best odds, avoiding big ACCAs, and following sports events where you have the basic knowledge at least are optimal advantages.

Q: Is sports betting a skill or luck?

One of the most common sports betting myths says that you need just pure luck to become a winner in betting; others disagree, insisting on the skill part of the activity. However, if you follow specific advice, you can increase your winning chances in betting, waiting for your luck to smile. Indeed, you can improve your ROI by studying each match, sticking to the available budget, and understanding odds value while keeping your emotions out of betting.

Q: Which sports are most predictable to bet on?

Team sports are more complicated than individual ones, so your homework before you bet should be in-depth for stats, injury news, and tactics for players and teams. Individual sports, like tennis, athletics, skating, snooker, and boxing, seem more accessible to become successful in sports betting than football and basketball, even though they are less popular.

Q: What is the most profitable betting strategy?

A sharp bettor should have many available options and tactics in mind to be a winner in long-term betting. Betting both on favourites and underdogs and having a specific staking plan are two bedrocks for smart bettors. Also, you can build strategies for low and high odds, totals, and handicap markets.

Q: Does betting on sports affected by corruption?

The uncertainty of the result is a vital part of sports betting, either for teams or individual sports. So, if the outcome is pre-determined in one way or another, it’s meaningless for bettors to try to make money. The integrity of wagering is lost; that’s why match-fixing is a huge threat to sports. There are many fraud cases, but official authorities are also trying to vanish bribery and other illegal actions.

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