Debunking 5 Sports Betting Myths That Remain in 2021

Sports betting myths have begun to fade, replaced with a litany of startups, partnerships, jobs, and most important -- millions of bettors like you.

17:10 01 September 2021

Sports betting myths likely exist from decades of nefarious characters associating it with a vice. Gambling evolved within the last century as an end of prohibition in the U.S. intermixed with illicit activities in Las Vegas, Nevada.

 

The act of betting on sports went through many changes since then, including the 2018 Supreme Court case that sent a ripple effect throughout the industry. What was once relegated to a small area of the country has now become a global multi-billion-dollar marketplace.

 

Sports betting myths have begun to fade, replaced with a litany of startups, partnerships, jobs, and most important -- millions of bettors like you.

 

Is Sports Betting a Good Idea?

Is sports betting a good idea? The light bulb was a good idea. Sports betting comes more as a personal preference as a form of entertainment.

 

Of course, there's inherent risk involved. Is sports betting all luck? Absolutely not.

 

The best bettors and gamblers shoot for a winning percentage of around 55%. So, that means you can expect to lose 45% of your bets in the long run.

 

You'll need a little bit of luck to get there, but if you learn a few basic strategies, you can prepare yourself to win more than you lose.

 

Is sports gambling rigged?

That's a big concern for professional leagues which have regulatory bodies monitoring for any anomalies associated with cheating. They'll want to protect the integrity of the sport otherwise, it could harm ratings and advertising revenue.

 

Is sports gambling waste of money? Ultimately, that depends on the bettor.

 

Again, if you develop some techniques to get started, you can learn how to hedge some of your risks. Betting in increments of 1-5% of your bankroll will prevent you from losing a big chunk of your money.

 

Also, as a cornerstone of your sports betting endeavors, you should never gamble money that you're not willing to lose—no credit cards or borrowing money to speculate.

 

Sports betting should be fun. So don't let it become a problem for you -- always know when to walk away if necessary.

 

If you still have questions or concerns about sports betting, all you have to do is start researching for yourself.

 

5 Myths About Sports Betting

The myths about sports betting always come with a grain of salt. They are minuscule in comparison to what the industry has become. Every professional sports league in the U.S. has now partnered with gambling companies.

 

Soon, these myths will fade like your grandma's 1970's couch.

 

You Can Make a Lot of Money Right Away

The truth about sports betting derives from a myth (or perhaps a misconception) that you can make a lot of money in a short amount of time. That's not necessarily true.

 

While the odds of that are relatively low -- you certainly can build knowledge and insight to help increase your chances of winning.

 

It's better to think of a long-term strategy, say for an entire season of a sport you like. Any short-term gains added to your bankroll should get managed appropriately.

 

Bookies Have Insider Information

In the world of sports, insider information comes as a raw steak. Nobody wants to eat it that way except a pack of wild dogs.

 

Okay, what I mean by that is this: it's almost impossible to have insider information on public leagues. Sure, maybe if you're betting on horse racing, there might be some minor details about top picks before the race.

 

But sportsbooks analyze information associated with their bettors, which is standard practice for any gambling establishment. Make sure the sportsbook you use has a good reputation as a registered entity with official regulatory bodies.

 

You can report suspicious activity to customer service or professional leagues at any time.

 

The Bookie Always Wins

That might sound true, but it isn't if you break it down as a business model. Sportsbooks manage their business acumen by changing lines based on betting handles.

 

So, if an opening line for any game or matchup needs to be slightly altered or fine-tuned, that's what they're going to do. They want to earn as much profit as possible, just like bettors.

 

For favorite bets, you'll get negative odds, and therein lies how the bookie pays for its losses. Also, some sportsbooks offer better lines for sports betting clientele.

 

Pay attention to the different odds from different bookies. Find one that's most suitable for your desired outcome. That's where you should place your bet.

 

Bookies make mistakes, too. And if the underdog hits, guess who will be buying you dinner?

 

You Think You Know How to Beat the System

There's a big reason why sports betting has become a multi-billion dollar industry while your bankroll still feels limited to three digits. No, the bookie doesn't always win. At least not in the short term.

 

Another myth associated with sports betting comes from ego and a lack of experience among first-time gamblers. There's no sure-fire way to "beat the system" or to be so confident that you'll win all the time.

 

If you were a mature gambler, you'd know that it's going to be a matter of managing your risk in the long term.

 

Take your wins as they come. Don't get too down when you lose.

 

But don't think you're the one person who knows how to beat the sportsbooks at their own game. That's a recipe for failure, and you might lose a lot of money that way.

 

So, be cautious with your betting style. (Elvis has left the building.)

 

Only Smart Bettors with a Large Bankroll Can Win Big

The beauty of the renaissance happening now in the sports betting industry centers around middle-income bettors. It's no longer wishful thinking that you could win big with a tiny bankroll.

 

Sports betting truth: if you practice your betting skills, learn from your mistakes, and recognize strengths and weaknesses, you can learn how to time your bets. These necessary tools come from experience and can help you to navigate the grind.

 

The big payoff comes from discipline and hard work. And, yeah, there's a little bit of luck involved, too.

 

But, with so many sportsbooks booming from the legalization happening across the U.S., it's a perfect opportunity to make the necessary steps to winning big.

 

You don't need a large bankroll to do that; you need to be willing to gamble.

 

Every smart bettor with a large bankroll has to start somewhere.

 

Tips for New Bettors

We've already covered a few tips for new bettors, but it's worth reiterating some of them. Remember, without betting strategies -- you will be sure to lose! You should never go in blind unless you don't care to win.

 

If you want to win, here are some basic tips:

• Be realistic
• Don't bet with your emotions
• Keep your bankroll intact (1-5% per bet)
• Take breaks to stay sharp
• Invest some of your profits in other areas

 

How to handicap sports betting? For beginners, that comes from learning your markets and developing knowledge as a basis for your short-and-long-term strategies.

 

For that, you should choose only trusted online sportsbooks with some helpful analysis on Safest Betting Sites.

 

Conclusion

As the sports betting industry continues its upward expansion, any myths that lasted in the previous decades may become extinct. Top gambling companies have now established major partnerships with every professional sports league in the U.S.

 

Since the Supreme Court ruling on sports betting as a matter of free speech, it's almost a sure thing that this is the beginning of something big. Sports betting remains at the threshold of becoming 100% mainstream and legit.

 

You can bet on it.