Why is sports betting bad?
To understand why sports betting is bad we have to check the advantages and downsides of it too. The addiction caused by betting and gambling is the main reason many people and governments think it is bad.
Sports betting is fun, it can boost your adrenaline level. This industry is very entertaining and causes even addiction for many people.
The risk you take and the possible win can highly increase the level of excitement.
Even those who have no clue about sport tend to place even decent amounts of stakes.
Why is that?
The psychological part of betting is very strong. The excitement you can feel when watching your teams is powerful.
Following sports events by itself could be fun if your favorite team is playing. But even then, you can be more entertained if the risk is higher.
The chance of winning or losing a decent amount of money is causing your dopamine level to skyrocket.
The feeling it causes is one of the main reasons many people get addicted to gambling and sports betting.
The possible addiction is one of the main reasons why this industry is growing so fast. The obsession for winning big is higher than the fear of losing everything.
Let’s analyze why you might think that sports betting is bad
It can cause addiction
Unfortunately, many people can’t handle the addiction caused by sports betting or gambling.
Even though it can have remarkable impacts on financial or personal life, people tend to ignore them when betting.
The excitement they feel overwrites every general rule. Losing big amounts rather than not stopping is abnormal.
No matter what kind of effects it can have on your life, being addicted to something is like chains around your neck.
You are not free and many of your activities are influenced.
The house always wins
The system itself is built up in a way where winning customers are unwelcomed. Sports betting has more to do with skills and knowledge than simple luck.
It is very similar to stock trading. It is not enough to hoard money on famous teams or stocks. You have to identify valuable options, teams, and outcomes and place bets on them.
Most people are placing bets on outcomes based on intuition, some unreliable tipster, or superficial knowledge about sports.
98% of bettors tend to follow this kind of betting behavior. Well, I have sad news for them.
The bookmakers and casinos are offering odds and slots that are already including their profit margins.
Your payout if you win is less than your chance of winning. If the team would have 50% to win (decimal odds of 2), your payout will be significantly less.
It will be around the odds of 1.83-1.90.
No matter who wins, if the bookmaker can correctly define odds, you will lose money in the long run.
The most basic strategy is matched betting. It uses bookmaker bonuses like loopholes.
If you don’t know anything about matched betting, you can read my review about OddsMonkey. In this article, you will find the information you will need.
Other winning strategies based on finding overpriced outcomes are:
A lot of bettors already made a fortune with these two techniques. In the following article, you can find my review about RebelBetting.
They are scanning bookmakers and displaying overpriced markets. Both of these strategies are supported by them with their sure bet and value betting services.
If you are living in the US or Canada, reading my review about OddsJam might be a good idea. They are focusing on bookmakers available in these countries.
Sports betting with money that you don’t own
For a lot of people sports betting is causing financial issues. In many situations losing every cash is not the ending point.
You probably heard about people who can’t stop gambling even when they have no money. Borrowing more from friends and family is a common act.
Unfortunately, some people will sell their homes or ask the bank for loans. These cases are one of the main reasons most people think that sports betting is bad.
The main reason why sports betting is bad is that many people are too greedy. Most of them want to win thousands without risking almost anything.
Placing a bet with a stake of 1 euro on odds of 500-700 with 8-10 selections is simple greed and stupidity.
I don’t want to make you mad, but thinking that you can end up in profits with this strategy is naivety.
Most gamblers only want to win big, and they don’t believe in small profits that can build up in the long term.
Winning 10-20 euros a day is bad for them. Following a strategy that can’t make you rich in a single day is not enough for them.
This is the main reason they will be at a loss at the end of the month.
Winning players are not welcomed.
I think the worst thing about sports betting is the bookmakers themselves. Bettors who can win in the long run are unwelcomed.
If you win enough money with betting systems, you will face fast stake limitations and sometimes even getting your account banned.
This behavior of bookmakers is a good reason why many people think sports betting is bad.
It’s not easy to think about it as a good opportunity if their main motivation is to see you lose all of your money.
Can sports betting be good?
Based on my opinion and long years of experience, sports betting can be good. Knowing the right strategy is the main reason I’m saying this.
Gambling addiction has ruined many lives, but for a small part of people, it made a change in theirs.
The only real difference between them is the information they use while betting.
Following simple statistics or tipsters is not enough for long-term success.
But learning strategies I already mentioned above are the key to making guaranteed profits from sports betting.