Why Do I Keep Losing in Sports Betting?

Sports betting is a fun and exciting way to turn your passion for sport into a way to make it a responsible activity. Many people indulge in sports betting. Some people are more avid bettors than others. They partake in regular wagers across varying sports, whereas others may only place a select few wagers a year on significant events.

Content Navigation
  1. Wagering mistakes intro
  2. Bankroll management
  3. Supporting a team out of favouritism
  4. Choose the right events
  5. Final words

Introduction to Sports Betting Mistakes

Why do I keep losing sports bets

Whether you’re a keen bettor or a hobbyist, one of the most common questions is: Why do I keep losing in sports betting? There are numerous reasons why one can fall short of a value bet more often than not.

Below we explore some of the most common mistakes that bettors make, which result in a loss. We won’t be dealing with tips on how to cheat the bookies here, but will only pinpoint any wrong turns punters usually take on their betting journey. Plus, we have detailed how you can rectify your approach to sports betting for a higher chance of a return next time you place a wager.

Gamble ResponsiblyDisclaimer: 18+. Be responsible. Seek help if needed. begambleaware.org

Poor Bankroll Management

The size of the stake that you place will not directly impact whether or not you are successful and responsible. However, if you want to become a long-term sports bettor, then taking control and understanding your bankroll is paramount.

Placing too many high stakes wagers may make your adrenaline pump and cause you to dream and act unrealistically. On the other hand, it could quickly result in your account’s finances becoming bankrupt and the end of your sports betting days.

Punting any more than 5% of your bankroll is considered to be reckless by professional bettors. True, there are many professional bookmakers that welcome high rollers, but try to choose wisely. By using this amount of your finances across different punts, your bankroll won’t be able to sustain an unlucky streak. According to research, sports bettors have an 80% chance of hitting six losses in a row. If you’re already experiencing enough bad luck to be asking the above question, then this is invaluable information to you.

Make a logbook of your deposits, withdrawals, and wagers so that you can track your bankroll with ease. By doing this, you’ll be able to understand your financial investment in sports betting better. Plus you’ll gain a more profound respect for your bankroll.

Chasing Losses

Another big mistake that many rookie sports bettors make when it comes to nurturing their bankroll is chasing losses. To chase a loss is to double up on your next bet in the hopes of getting back what you lost previously.

It’s evident that this is a risky move, and as previously implied, the chances of a single loss are slim. To become a long-term bettor, and one that makes a profit, you should avoid ‘reloading’ your account balance as much as possible.

When placing bets, keep placing small bets on varied markets. Sticking to this approach will give you a higher success rate with less risk.

Betting on Events Based on Favouritism

Ask any loyal fan which team will be a victor during a matchup, and they will undoubtedly say their favourite team. Always choosing your favourite teams to win, however, is an illogical sport betting approach if you want to succeed. It’s statistically impossible that your favourite team will be on top all of the time.

Remember, placing a wager on your favourite team doesn’t prove your dedication to them because they will be none the wiser. Instead, the bookmaker relies on your bias to make a profit. The same goes for trends. On occasions, individual sports stars will hit the limelight, and every child will want to be them. Don’t let favouritism cloud your judgement.

Impulsive Betting
Emotive Betting
Recency Bias

Lack of Knowledge

Studying is always the best practice if you’re looking to become a profitable sports bettor. Learning about the sport and its teams in detail will help you to make informed bets. Specialising in one or two sports will give you a much higher advantage. This is in comparison to spreading your wagers over many sports you lack full knowledge of.

Many of the rules of a sport, for example, go hand in hand with the available betting markets. Without a sound knowledge of what’s happening on your screen, placing successful in-play bets is virtually impossible. Furthermore, without the proper understanding of team statistics or past results, your betting will be based on impulsive and recency bias.

Betting Markets

In addition to the above point, many beginners to sports betting will fall at the first hurdle. When opening up an online sportsbook, you must understand the types of betting markets on offer to you.

Before placing a bet on a whim, take some time to research what each market is. Ensure that you know what it means to place, for example, an Asian handicap bet or an over/under wager. By doing this, you aren’t just boosting your potential for success, but are also making the game more exciting. You’ll be able to understand when your punt is at stake or when the game is going in your favour.

Spending on the Wrong Events

Stop spending reckelessly cover

Certain events, like the Grand National, World Cup, or Super Bowl, will draw in thousands of new bettors. It’s fun for people to get involved and these significant sporting events make up a considerable part of a sportsbook’s revenue.

However, betting on these events isn’t always the best approach for long-term sports betting success. The more people that place a punt, the more focused the bookmakers will be on balancing the juice. Therefore, point spreads will grow, but odds will stay low to entice more betting from a broader audience. In return, the value of your bet is lowered.

Popular Sports Vs Niche Sports

The same principle goes for only betting on popular sports throughout the year and placing wagers on the most common markets. Generally speaking, there are around five popular markets that punters stick to. And most choose soccer as it is easier to be responsible betting on football in general compared to other sports. Oddsmakers and sportsbooks are aware of this and will keep the odds restricted for these sports.

There are many niche sports with less of a following. The less that’s known about a sport, the better because oddsmakers will have less information to make tight odds. Plus, fewer punts equals better figures and a less saturated market.

Widen your knowledge about different betting markets to find the best possible odds. Proposition betting can be highly lucrative. Once you’re confident with alternative markets within your favourite sport, branch out and learn about more niche ones. These include volleyball, curling, speed skating and many more.

In Summary

To conclude, the best way to improve your sports betting is through researching your chosen sport, the teams, and betting markets. As with anything in life, the more you learn, generally, the better you’ll be at something. The same is true for sports betting.

Top take away tips for having better success at sports betting include:

  • Bet on niche sports
  • Avoid large scale events
  • Broaden your betting markets
  • Keep control of your emotions and biases
  • Manage your bankroll like its a business

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