Gambling addiction can have serious consequences for individuals and their loved ones. According to the National Council on Problem Gambling, approximately 2% to 3% of the U.S. population has a gambling problem, and an additional 4% to 5% are at risk of developing a problem.
It is difficult to determine the exact percentage of profitable sports bettors, as this can vary greatly depending on the individual’s level of skill, knowledge, and experience, as well as other factors such as the sports and markets they bet on and their risk tolerance.
Some studies have found that the majority of sports bettors are not consistently profitable over the long term.
For example, a study by the University of Sydney found that among Australian sports bettors, only 11.6% were profitable over a 12-month period, while another study by the University of Las Vegas found that only 1.3% of sports bettors in Nevada were consistently profitable.
These findings suggest that sports betting can be a challenging and risky activity, and it is important for individuals to be aware of the potential risks and gamble responsibly.
To be honest, when I started sports betting, the same mistakes were the reasons for my failure too.
After a short period, I seriously started researching the differences between professional bettors and punters who always lose.
Why do punters or gamblers always lose in sports betting?
Punters who are not following profitable mathematical betting strategies and a good staking system will permanently lose in sports betting. They may have some success in betting, but in the long run, they will permanently lose.
Gamblers who follow smart betting techniques will always win, and their bets will generate profits.
Why do gamblers always lose in sports betting?
If you are not winning in sports betting, it might be for several reasons. The good news for you is that you are already on the right path to becoming profitable if you are reading this article.
Top reasons why you might lose in sports betting:
1. Not following a trustworthy tipster
Finding betting tipsters with a profitable and long betting history can be time-consuming. Many bettors have an insane amount of knowledge, database, and experience about many sports, teams, and players.
If you are picking the right people to follow:
- betting history with Min tips: over 500
- Min odds: over 1.60
You can’t get wrong with the top tipsters.
The most significant advantage of this service is that every individual tipster is motivated to offer profitable picks in the long run. This is their only way to get returning subscribers.
You can also check my Tipstrr Review.
I think paying 10-25 euros for quality tips from them is worth a hundred times more than those tipsters from Facebook and Instagram ads.
2. Not using the right database of statistics and predictions
Football database & statistics for prediction
A football database with accurate statistics can help you make better betting decisions. With a good betting and staking strategy, you can beat the bookmakers even in the long run.
I have used and tested a football statistics database and prediction site (a cheap one) that is offering an insanely profitable and long-term betting strategy too.
An excellent football statistics tool is Zcode System. They have a different and advanced way of approach to statistical sports betting. They also get data from each football betting event.
The system at Zcode System is capable of backtesting your football betting strategy. It will check if your football betting strategy for first-half corners, goals, etc. would be profitable in the long run. This test is based on tens of thousands of matches and odds.
Another great football statistics software I tried is Play the Percentage. They are offering predictions based on historical data. Their strategy based on this strategy has:
18 thousand Pound sterling profits:
- in 8 months based on 4000 bets
- proved with a complete history in an excel file – matches + stakes)
Start your free trial at Play the Percentage.
The statistics and predictions are displayed in percentages, and they can offer accurate data based on tens of thousands of matches from the past years.
Do you think it’s promising? Well, this is only 10% of what this site is able to offer.
Check my detailed review of this football statistics database.
Or you can try them right now for free!
3. Not following a betting strategy based on mathematics
Bookmakers are analyzing teams, players, and events to define the genuine possibility of every outcome.
Their algorithms are based on historical data and new information about players, teams, and any possible influencing factors.
The better they can figure out the real chances for an outcome to win, the more chances they have to end up in profit. Odds represent the decimal format of the probability of an outcome.
These include the profit margin of the bookmaker, which most of the time is between 3%- 8%.
If a punter is always taking these lower odds, they will end up losing the whole balance in the long run.
Smart betting strategies define these true odds, and actual probability better than some bookmakers.
This way, punters can have an edge, an advantage over the bookies, which will generate a guaranteed profit for them.
4. Bad staking strategy
Even the best and most profitable betting strategy can be ruined with a bad money management strategy.
A good way of staking can decrease the chance of losing too much profit in a losing streak and increase the amount you win in the long run.
In my experience, in the long run, most punters will experience a substantial difference in their profitability if they change their staking strategy.
5. Chasing winning bets
No matter how good a betting strategy is, every gambler will experience losing streaks, and this phenomenon is called variance.
Regular punters who start losing bets one after another can quickly get frustrated.
The first act in these situations is trying to recover losses.
The smart reaction of a bettor would be sticking to the strategy without changing anything, or even decreasing stakes to lower the possible losses.
Unfortunately, most punters are trying to get their money back in an aggressive way with increasing stakes.
The other common strategy is placing bets that are not holding any real value. Chasing a winning bet, this way will highly increase the likelihood of generating big losses.
To be honest, I have made these mistakes several times and only a few times have I succeeded.
It can end up with a lucky bet that will cover your previous losses, and you will feel happiness and satisfaction.
But most punters who chase a winning bet will lose the whole capital before realizing it.
Following a sustainable betting strategy will always overperform the attempts of recovering fast from losses.
6. Not being patient
Some betting strategies are not offering too many opportunities daily.
For example, in summer, most sports events are close to the end, and the volume of your bets will decrease.
Some punters can lose their patience after staying in front of the computer without action.
If we are realistic, fewer matches mean fewer opportunities to find bets with good value.
Waiting hours to get a suitable match can get depressing, and we can make bad decisions in these situations.
Placing bets outside our strategy can easily lead to losing a good part of our profits.
Based on my experience in these periods, it is wise to take breaks and concentrate more on weekend events.
7. Being greedy while betting
Most punters are chasing winning bets not only when they face a losing streak. A winning streak can make us think that we are unstoppable and that all of our bets will be winners. Getting false self-esteem in gambling can be very dangerous.
Making good profits on some bets can make punters believe that increasing stakes and taking more bets will generate more money and faster.
This greedy tactic will increase the risks of running into a big losing streak. Most gamblers after losing in this state of mind can easily start chasing winning bets that can increase the losses.
In my experience, the best way of keeping sustainable profits is by sticking to the strategy even if you feel you are on a long winning streak.
8. Placing parlay bets
Single selections by themselves are holding a relatively big risk of losing them. Value bettors can be profitable in the long run only if they take outcomes with overpriced odds.
Having this in mind, the only real chance of remaining profitable with parlay bets is by taking every selection with a value on it.
Parlay bets are a combination of single bets that highly increase the payout if it is a winner.
The downside of this betting technique is that the chance of winning is decreasing substantially with every new pick added to the bet.
I have a dedicated article and guide about: Parlay bets and how to hedge them.
Parlay bets are one of the most preferred types of betting for punters, keeping them from losing money.
9. Not following the betting history
Building up an excel sheet with your betting data is one of the most powerful ways to increase your profitability and your chance of winning.
In the long run, losing punters are probably not following their history. An excel sheet can contain every bet placed, the odds used, and the market used.
Applying filters to data like this could help you spot the weak spots of your betting strategy.
Avoiding markets or odds ranges where the punter is unprofitable in the long run will increase the income generated.
10. Repeating the same mistakes
As I already mentioned a betting history can help you a lot. The main reason is not only to improve the strategy but to avoid making the same mistakes.
If you want to be a professional, or at least profitable in sports betting, I think that leaving the obvious mistakes behind should be the first step.
Sometimes these mistakes can be minor ones, for example, placing 1-2 bets on wrong odds from 100.
But choosing a market that has low profitability and big variances can cause a major problem in the long run.
Repeating the same mistake will block you from scaling up your balance.
11. Not having realistic expectations
Even for a professional bettor, having unrealistic expectations about a strategy can have a harmful effect.
Knowing the limits of your bookmakers, your balance, staking strategy, and betting strategy is a crucial point.
Pushing too far one or more of these will cause you to increase risks like getting limited by the bookmaker or losing a big part of your balance.
12. Sticking to a strategy for too long
To be honest, I made this mistake several times. Most punters can’t accept that their way of betting is not a viable option.
Only after a long streak of losing will you start thinking about changing it. Diversifying the way of picking bets from time to time can increase the chance of winning.
The best example would be value betting. Even the best strategy needs improvement or to avoid it. For instance, I used under betting on basketball for a long time.
But after some months, I realized I didn’t have any success.
I still can’t figure out which bookmaker changed the way of defining the odds, but I started betting only on overs, and the profits came back.
Do gamblers ever win?
Many gamblers are profitable in shorter periods, like a few months.
Some basic betting and staking strategies can offer success for many punters.
But generally speaking, based on historical data, only a low percentage of sports bettors are profitable in the long run.
You can find different information about their profitability, but the accepted percentage of punters who win in the long run is between 3%-8%.
Most punters are following betting tipsters or correct football prediction sites. Getting tips and analyzing data from other people has some advantages and downsides too.
This way of betting can help punters without experience to start winning. Some of these services can offer you decent information about events that will increase your chance of winning even in the long run.
The main downside is that as a beginner punter it is hard to spot the valuable tips between so-called professional betting tips that can be only scams to get your money.
In my experience, the only real way for a punter to win in sports betting is by following techniques based on mathematics.
How can you be a smart punter?
After reading the points above you probably already know a smart punter is always following a betting strategy based on mathematics even on a losing or winning streak.
To become a smart and profitable gambler the best betting techniques are the followings:
This strategy is the most certain way of stopping always losing your bets. It is based on finding odds that are overpriced.
Many times bookmakers are missing some information about teams or players which will lead them to offer wrong odds.
Smart punters who can figure out that these odds are not representing the true possibility of that outcome can take advantage of these opportunities.
Placing bets on these odds will guarantee an edge against bookmakers. Smart gamblers can cover the other outcomes on these markets at other bookmakers with a guaranteed profit.
No matter which outcome wins arbitrage bets will make you win on every bet you place.
This betting technique can be used to complete requirements on bookmaker bonuses, which will increase your profits.
This betting technique is called matched betting.
The main reason punters always lose is by taking odds that are lower than their real chance of winning.
Gamblers who start placing bets only on overpriced outcomes are called value bettors.
In the long run, this betting strategy is generating the most profits.
By doing it the right way punters won’t win every time, but based on mathematics they will end up in a decent profit.
With this technique, you can make 3% – 7% of profits on your total stakes. So, in the long run for every 100 units, you wager, you will make 3 – 7 units of profit.
Can a punter make good money?
With these smart betting strategies mentioned most punters can make a monthly profit between 500 – 2000 euros.
Following the strategies will make good profits regardless of whether the punter has much betting experience.
Understanding that the only way to make good money from sports betting is by following strict rules is a base element of success.
How to become a professional gambler?
Becoming a professional in sports betting is a long road.
The main aspect is finding a good and profitable betting strategy that suits your needs.
The only real betting strategy that can make you professional and fairly rich from gambling is value betting.
It has the most potential to scale up your winnings, and on the other hand, it is less limited by bookmakers.
Learning every aspect of sports like basketball, football, or tennis will highly increase your profitability.
A professional has some kind of 7th sense for trends and opportunities for sports.
This comes from years of experience, watching matches on stream, and placing thousands of bets.
A professional bettor always has to be patient, not only when a losing streak comes, but when a winning streak is too long.
Both situations are dangerous because most bettors could change the staking and betting strategy in the hope of making more money.