5 Interesting Facts About Betting You Should Know
Last Updated: October 29, 2022
Thanks to the advancements in technology, sports betting is now more available than ever, allowing millions of punters around the world to stake their money on the outcomes of sporting events every day.
But even though betting has become more popular than ever, there are a lot of things that even the most avid bettors don’t know about their favorite activity.
Here are the top five interesting facts that you didn’t know about sports betting
Less Than 5% of Sports Bettors Are Profitable
You probably already knew that most punters are losing money over the long term, but did you know that on average only 1 in 20 bettors make money with sports betting?
Becoming a successful sports bettor is one of the hardest careers to achieve.
In fact, you probably have a better chance to become a doctor or a lawyer than being profitable in sports betting over the long term.
This is because, to become successful in sports betting, bettors have to master multiple different skills.
On top of that, they have to beat a giant industry that uses thousands of people and advanced software on sites like Malaysia Online Casino to make sure they don’t lose.
Most Sports Bettor Bet With Their Gut
When they get into betting, most sports fans follow their heart when they make betting decisions, allowing their emotions to dictate how they wager their money.
These kinds of bettors make the perfect customers for bookmakers because they rely solely on their gut and do no research before placing a bet.
For this reason, bookmakers spend millions of dollars to promote their services and products during big events that are popular with sports fans.
Bookmakers Don’t Only Make Money From Losing Bets
One of the most common misconceptions about sports betting is that bookmakers only make money when a bettor loses a bet.
The reality is that sports betting operators count on their margin in each market by lowering the betting odds anywhere from 5% to 15%.
In other words, unlike bettors, the bookmakers don’t gamble. Instead, they use math to gain an advantage over the players.
This is the main reason, why bookmakers always give their best to set the odds that will create an equal amount of action on all outcomes, it guarantees their profitability.
Super Bowl Is the Biggest Betting Event on the Planet
In addition to being the biggest game in sports, the Super Bowl is also the sporting event that creates the most betting volume.
Each year, more than $100 million is wagered on the final game of the NFL season, this includes all kinds of bets from money line markets to how long the halftime show is going to last.
For example, before and during the 2018 Super Bowl, which saw the New England Patriots beat the Philadelphia Eagles the bookmakers accepted over $150 million in bets with the most popular prop bet being if the Eagles would score a safety.
Craziest Bets Made & Won
With the evolution of the sports betting industry, punters can bet on almost everything thanks to the “betting on-demand option” that a lot of bookmakers offer.
Here are some of the most extraordinary bets that made punters money:
- A 50 cent 8 horse accumulator for races at Dubai, Wolverhampton, and Sandown with the total odds of 2 million to 1
- A bet that Luis Suarez would bite a member of the Italian squad during the match between Uruguay and Italy in the 2014 World Cup
- A 50 cent 15-event bet that predicted the winners of all five English professional leagues, the Scottish divisions, one rugby, and one cricket championship as well as the winners of European cups with the total odds of 1,666,666 to 1
- A £200 bet that the punter’s son will win the British Open in golf within the next 10 years with the odds of 500 to 1
Sports betting can be extremely exciting and fun if you are in control, however, it can also turn into a nightmare if you don’t know what you are doing.
If you are planning to get involved with sports betting in any shape or form, you should thoroughly research what to expect and prepare accordingly.
By approaching this activity in this way you will minimize the chances of things going south!