You would have to be living under a rock to not know about sports betting these days. Online sportsbooks are popping up all the time, becoming more commonly available than ever before.
Even if you think you are a guru at making the right pick, it helps to have more information. For instance, there are a few major misconceptions about sports betting that could wind up costing you at the end of the day. Check out these misconceptions when it comes to sports betting.
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Big Odds Don’t Hit
When you log into a Virginia sports betting app, you may have a strategy or two in mind. One of them might be to avoid the big odds because they simply don’t hit. The simple fact of the matter, however, is that online gambling of any type comes down to chance.
That means even being able to hit on a major parlay that otherwise looks impossible. It’s not unheard of to hit on a big bet, but just remember that the risk is so much higher. Putting a buck or two on a big parlay can be a great way of “playing the lotto” without having to risk much of your bankroll.
It’s Easy Money
Compared to getting out there and finding a job, sports betting is easy money, right? Gambling isn’t a common way to earn money and only the select few find a way to turn regular winnings into a livable wage. Consider every bet a loss, money that goes toward your entertainment.
It’s just like playing at a big casino. While it would be great to hit on a big wager, the odds of that happening are slim to none. Treat betting as entertainment, not a reliable way of making money. It will help you to avoid major disappointment and even bigger losses.
It’s All About Luck
Though it is easy to see why, sports betting is about so much more than luck. Yes, you need to get lucky and have things go right for your pick to hit, but you can also put yourself in a better position by having all the information (or as much as possible). The sharp bettors are the ones who put themselves in the best position to win.
Sports betting is about probabilities. By taking games that have a higher probability of winning, you put yourself in the best position possible. Though there is no such thing as a guarantee in sports betting, using the relevant information can put you in a spot to win more often than not.
Sportsbooks Have Insider Information
Anyone who has placed a bet before has been in the same position. You’re watching a particular game and the line moves subtly one way or another. What could the sportsbooks possibly know? Do they have inside information? The biggest misconception is that the sportsbooks have inside information on players and potential outcomes. But that could not be further from the truth. Like us, the sportsbooks are guessing. Granted, they are making a more informed guess than most of us but it is still a guess.
Sportsbooks make money because they are great at researching and gathering as much information as possible. They dive into the numbers like few bettors to put themselves in the best position to win. They will take losses on a game here and there because it is still luck. But at the end of the day, major sportsbooks are just putting the information available to greater use. Spread out over thousands and thousands of bets, it can equate to big winnings for the sportsbooks.