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Why You Will Lose Money by Sports Betting

Updated on March 7, 2013

A Warning.

So you want to make a living from sports betting, you want to become a full time professional gambler. Sounds good doesn't it, dead easy.

The truth is you will lose. You may win at first but eventually you will lose. I am not saying that just because I have lost and I am bitter, no! On the contrary. I quite enjoyed gambling, I got a buzz from it, adrenalin filled afternoons in front of the computer leading to yells of delight when a winner came in and a deep sinking feeling in the pit of my stomach when I lost. Eventually I realised that I couldn't beat the system that has been a thousand years in the making. Far cleverer men than me have tried and failed.

I am not sure about the rest of the world but UK Bookmakers are required by law to have some kind of warning on their sites. Gambling Awareness, Gamcare, Gambling Therapy. This is a statement taken off the Ladbrokes Site from the Responsible Gambling section

"Staying in Control

Whilst the majority of people do gamble within their means, for some gambling can become a problem. It may help you to keep control to remember the following:

·Gambling should be entertaining and not seen as a way of making money

·Avoid chasing losses

·Only gamble what you can afford to lose

·Keep track of the time and amount you spend gambling"

Bookmakers do not place warnings and print statements like that unless they recognise that some people can have a serious problem with gambling. Please, for you and your family’s sake, do not gamble more than you can afford.

Gambling over the Internet

Sports’ betting has never been easier to do. There are literally thousands of sites on the Internet all dying to get their hands on your money. They offer generous incentives for you to join them with some sites offering to match your deposit up to £200 and do you know why? It's because they know that they will get their money back plus most of yours.

The only person to win is the bookmaker, when did you ever see a bookmaker riding a bicycle? Never is the answer. Nowadays, there is a way for you to become the bookmaker, due to the emergence of Betting Exchanges such as Betfair and Betdaq.

In theory you can become the bookmaker by laying every outcome so that you will make a small profit once you have paid out to the winner. In practice making a book (as they call it) is almost impossible. The odds just don't allow it. It is very unlikely that you will ever get the odds needed to complete a book. You may even manage it once but then to keep on doing it, is very unlikely.

Betting Exchanges

A betting exchange is different to a usual bookmaker because you are matching your back bet with a lay bet placed by someone else. The exchange takes a 5% cut from the winner of the bet. A very simple example:

I place a £10 bet on Chelsea to win

Someone else bets £10 that Chelsea will not win.

If Chelsea wins then I win £10 - 5%

Can you see that I am at a disadvantage from the start? If Chelsea lose then I lose £10. If Chelsea draw then I lose £10, I can only win if Chelsea wins.

That was a very simplistic example. In reality it's much more complicated. Chelsea are expected to win most of their games and so the odds for Chelsea to win are very low, whereas the odds on the other team to win and the draw are quite high. It is these differences in the betting odds that ensure that you will never win at sports betting.

You could win eight times out of ten then lose all your profits on the two games Chelsea lost or drew. It is all down to maths. Exchanges use bots (software) to keep the odds markets artificially fluid that ensure that people will bet more, especially when an event is in running.

Even if you do become successful and manage a winning streak, the chances are that bookmakers will limit or even suspend your account and in some cases just refuse to pay out. In other words, the more successful you become then the less you will actually win until eventually you lose any profit that you gained.

The only people who are making money out of gambling are the bookmakers; the exchanges and the spammers who sell systems that promise you the earth. Don't fall for it; within a few months they will be selling another system because their earlier ones don't work.


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      mirkoni 5 years ago

      Hi, I am from SErbia, only I could say is . . . wonderful text.

      Very thanks