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Why I Stopped Sports Betting Online

Updated on November 12, 2009

Sports Betting Scams

Why I Quit Sports Betting Online

To be clear this hub has no intention of promoting sports betting, instead it does the opposite and explains to people that are debating whether to start sports betting online, why to avoid it.

I started betting on sports a long time ago (5 years+) when it was brand new and not as completly corrupt as it is now. Back then it was still not a good idea to bet because the odds are always against the player, but at least it was not very crooked, at least in my case.

I started sports betting online a month ago, to give it another shot. Betting on NFL football games was my sport of choice, and since I follow football I enjoyed watching the games anyway. There will be no links to and betting sites in here but I will say that the service I tried is very popular and comes up on Google near the top of search results. Hopefully that will give you a good enough idea of who to avoid.

Why my expirence with sports betting online turned completely sour? Well there are a number of things but the most influential for posting this hub are as follows, the odds are never in the betters favor, being "paid-out" after you win or lose is nearly impossible, incredible risk, and casinos.

1. Odds - Betting odds and spreads are calculated down to almost perfection with experts working closely with very powerful computers. This combonation makes it nearly impossible to get any advantage as a better. On top of that online sports betting websites take the odds from Vegas and change them more in the website favor and less to the player. So your odds by the time you make a bet are very low.

2. Payout - If you do happen to find a bet that you think is as close to fair as it's going to get then the payout for the bet 90% of the time is less than you have on the line. Betting 50 to win 45 seems like a good bet, but really you are giving the website 10% of your winnings if you win the bet, and of course 100% if you lose. This is a win win for the website, and a loss loss for the player. Also reaching the payout threshold is not only confusing but heavily favored to the website. For example with bonus cash (sign-up bonus) you must play the full amount 3 times and win before you can cash out. The chance of actually winning those 3 bets, is nearly impossible therefore the bonus is negligible.

3. Risk - Of course betting is risky right? The risk that I am highlighting has nothing to do with actual betting. It has to do with the websites not paying out winners, and charging exorbitant amounts to request payment. First off if you are a big winner at these sports betting sites, you have a high risk they will cancel your account or never pay you out. They have nothing to lose, and are most likely not located anywhere where suing them would do any good. Remember that before betting big. Another problem with payout if you ever reach that phase is that the cost of being paid out is crazy high. The service I was using cost 40$ to have a payout check processed. It's free to load money but costs 40$! to receive a payout check. This is absurd, and common with online sports betting. 

4. Casinos - Now I am not promoting casinos or gambling as you can tell from the article previously but a friend of mine made a great point when I told him about my troubles with online sports betting. He said simply "If you know you are going to lose your money, why not take it to a casino where there is free drinks, entertainment, and a whole experience". This is a great point, to win by sports betting online, and getting paid out is very very difficult, might as well go to Vegas right!? Just something to think about.

I hope you can sense my frustration with the online sports betting arena, and do not make the same mistakes I did. Please leave comments to ask questions, or to share your crooked experiences. Remember: Do Not Promote Gambling or your comments will not be approved!

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    • profile image

      Mariglen k 3 years ago

    • profile image

      soccerbetting 7 years ago

      Yes I do agree corruption is a part of this game and I have to agree with shanestyle to win you have to lose bucks but that doesn't mean that you lose hope and stop betting.

    • shanestyle profile image
      Author

      shanestyle 8 years ago

      Arindam1234,

      I agree corruption is a huge part. It's a shame too. Lastly to make the big bucks you have to risk losing the bigger bucks!

    • arindam1234 profile image

      arindam1234 8 years ago

      corruption is the part of the casino based games and as the days progressed, this type of internet game becomes more corrupted. but u have to continue betting within this frame to make big bucks!!