How to bet on sports for profit – The Deception of winner/no winner

Yes, you can learn how to bet on sports for profit. Yes, you may even get filthy rich from betting on sports. Is it easy to bet on sport for profit? Hell, no! As with everything else in life you got to work for it. Actually you got to work much harder than most are willing to. For those that are not willing to learn but still want to place a sportsbet, we suggest you move on to our bet tips section. We have done most of the hard work for you, and you can profit from it either by taking our best bets or using our analysis as the foundation of your own due diligence. For those that enjoys sports betting and wants to learn everything about how to bet on sports; we got plenty of betting advice for you, and this is just one of many articles on how to bet on sports for profit. Be sure to read them all.

How to bet on sports - It’s a winner

To bet on sports looks easy, right? Let’s do a quick thought experiment. Most of us tend to take the ignorant shortcut in our mind and for whatever unexplainable reason “just know” that the Catalonian giants Barcelona would beat British side Everton with ease in any and all football fixtures (unlikely as this fixture may be). They reason that Barcelona is the best football club on the planet, and so they should win against this English mid-table team. Wrong! This type of thinking will sooner or later get you into trouble.

Sure, Barcelona might win 8 out of 10 matchups, and you may be allowed to brag to your mates at the pub about your magnificent strike rate. The bragging aside; have you made any money? It all comes down to the price you got. Did you make money if the price you took was 1.15, or about 1/7 if you prefer fractions? This is the problem of the picking “winners” without further analysis approach. Also, if your friends decide to learn how to bet on sports and starts following your bet tips they might not be too happy if your strike rate is not backed by a healthy increase in their beer fund.

In this example; let us assume you bet 100 units per matchup for exactly one hundred matchups. In this case you would book 115 units every time Barcelona won and book a loss of 100 units every time they lost. The math is simple, let’s do it together:

In this scenario, 80 times out of 100 Barcelona won, so you booked 80x115 units. So far so good, this is 9200 units won, but when we take into consideration that we have wagered a total of 100 units x 100 times the deception issue materializes. 10000 units wagered minus 9200 units won equals a whopping 800 units LOSS. That equals a lot of good candle-light dinners with your better half or even better with your younger sexier mistress/lover whatever your sex and preference is. Do yourself a favor, keep this betting advice in mind.

We are not even going to try to explain the psychology in play in this article. That would be too much advanced betting advice for one article. For now, what you need to write down and post on your fridge is that there are plenty of cognitive biases at work here to make you think you did make money, or at least make you feel you did even as you lost 800 units. We have written about each and every one of these biases, and we suggest you browse through those articles. We dare say a thorough understanding of those articles is likely to save you a whole lot of money in the long run.

How to bet on sports - you must remember this

In this article we hope that we have shown that you can’t think in terms of winner/no winner when you bet on sports. You must go a bit further with your analysis. If you want to bet on sports, you should attach probabilities to the possible outcomes. At least you must be able to evaluate the bet offers that the sports book presents you with. Think: Is this “winner” good at the offered price. Simply by doing this exercise in your head you have improved your chances of becoming a winning sports bettor significantly.

How to bet on sports - Final note

We hope you have enjoyed this article, and that you have learnt something from it. If you have, please do not hesitate to share it with your friends or become a fan of us on your preferred social media site.

Do also check our bet tips section. It is a great place to start looking for the best bets.

Good Luck!