Ten Prominent Sports Betting Myths

Even in the informational age, many ole wives’ tales and myths in the sports betting arena exist. Despite its popularity, misconceptions about this practice still get spread, and millions of people around the globe wager guided by inaccurate info. Betting isn’t a guaranteed income boost, and here is what we would consider ten false beliefs that can further drag gamblers down the wrong road when enjoying this hobby.

You Can’t Bet If Your Country Has Not Legalized This Practice

It is logical that if your country of residence has not allowed sports gambling, its citizens can’t indulge in this activity. Nonetheless, this is false, as most regions around the globe that have not yet passed betting laws do not forbid their residents from engaging in this pastime at offshore sites. They do not mention anything about this. Hence, the legal principle that anything that is not illegal is legal applies here. That is why Curacao-based platforms can offer their services internationally. That is possible via trade agreements that allow sportsbooks based in one territory to accept users from others. Today, thanks to the invention of virtual currencies, that is easier than ever.

You Can Be Due for a Win

Finding oneself on a losing streak is the bane of any bettor’s existence. No one likes it when Lady Luck leaves their corner, leaving them to fend for themselves against the waves of uncertainty. In the gambling sphere, a concept known as the gambler’s fallacy is a well-known one that depicts the erroneous belief many gamblers have when betting, leaning on the false belief that past results can affect future ones.

Hence, after suffering multiple losing wagers, it is not strange for someone to think that the laws of probability dictate that they are due for a win. However, that is rarely the case, as previous outcomes have no effect on future ones. That is valid for casino games and sports events. Yes, run of form plays a factor, but each match is an individual happening, and just because someone has lost many bets in a row does not mean that their luck must soon change. That is unpredictable, and streaks of bad luck happen to even the most knowledgeable bettors.

Risk-Free Betting Does Not Exist

Another one of the betting myths, In the online sphere, it does. Gamblers sometimes get offered free bets from bookies with low win caps, which limits how much they can win through these promotions, but they still offer something for nothing. Then, there are arbitrage and match betting. The first exploits price differences in various markets, and the latter utilizes the mentioned free bet promotions by covering all potential outcomes. Both strategies require precision and an awareness of the odds.

Parlays Are for Suckers

Parlays often get talked about as sucker bets, particularly if their odds don’t align with the expected value. Most veterans will say that oddsmakers may present parlay wagers with tempting lines. Yet, caution must get exercised to avoid falling into sucker traps. While parlays may not be our preferred bet type, labeling them as sucker wagers, in our opinion, is inaccurate. Nevertheless, we would not advise going over two or three selection parlays. 

The Over is For Suckers

It goes without saying that most gamblers favor under-wagering in totals due to the likelihood of more things going wrong. Stats back this up. Still, it doesn’t mean overlooking the over is wise. Factors like injuries, high-scoring trends, or favorable weather conditions can make the over a sound choice in many situations. Ultimately, excluding overs is not advisable for well-informed bettors who focus on research and data analysis.

Sportsbooks Will Ban You If You Keep Winning

They will not ban you. This is one of the betting myths that many believe in. But they will limit your account to a point where it no longer becomes profitable for you to use it. Hence, account limiting gets done by bookmakers to discourage successful bettors and make them hit the bricks and move onto another platform.

Avoid Tipster Services

Paying for a tipster’s advice means your profit margin will be lower. That said, this does not mean you should skip expert advice, especially when it gets backed up by data showing that the tipster in question has a proven track record of consistently supplying quality picks. It goes without saying that deciding whether to pay for betting tips involves careful consideration.

Relying on professional tipsters can be tempting, particularly for those who do not want to spend time on research. But, when scrutinizing a tipster’s credibility and results, please check bet verification services, understand tipsters’ backgrounds, and obtain sample analyses. Do not blindly pay for tipsters who have not established themselves and who do not disclose their wagering records.

You Can’t Win Money Wagering on Favorites

Consistently winning in betting, especially by solely wagering on favorites, is challenging. While favorites get often favored for a reason, and the odds offered by bookmakers reflect this, profiting by wagering on favored parties is possible. Upsets do happen, but favorites win more often than not. Although betting on favorites may yield lower potential profits, consistent wins are possible with patience, smart betting, line shopping, and solid tactics. It will be a gradual timeline until you attain any decent winning tally using this process. Yet, the accrued risk will not be sizeable. Please factor in taxes when planning on going for modest long-term winnings.

Betting Myths – No One Wins in the Long Term

It is hard. No doubt. But, by utilizing match betting, odds shopping, arbitrage, value wagering, etc. It is possible to turn profits over longer periods. Know that to keep making money with sports betting will probably require platform-hopping, as bookmakers will eventually hit you with limits once you get too successful. So, the best practice is to diversify your gambling activity across multiple bookies. Many sites implement identical betting solutions. So, they will have the same odds. There will be no differences odds-wise between these hubs.

It Is Easy to Exploit In-Game Patterns

The belief that specific patterns consistently result in predictable outcomes is a misconception. The dynamic nature of sports makes it challenging for such patterns to reliably repeat. The fluidity of gameplay disrupts anticipated patterns. Hence, successful betting requires an acknowledgment of the unpredictability inherent in live events.

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