Sports Betting Myths – Are They True? 

Sports betting myths

3 minutes

Last Updated: September 8, 2023

Alex Zlatanovic

Whether you’re a seasoned sports bettor or a newbie just getting into the pastime, we’re sure you’ve heard some statements you aren’t too sure about. You may have even done some research to help improve your sports betting or gaming wisdom and find some of the tips and advice you see online a bit strange. 

It happens to the best of us. Here’s a fact: The internet is full of useful tips based on facts. And a myth to go with it: Everything you see online is true and proven. To help you along the way, we decided to have a look at some sports betting myths and check to see how true they are. 

Sports Betting Myths vs. Facts

As enthusiastic gamblers, we’ve heard our fair share of outlandish claims and superstitions. There are several myths and misconceptions about sports betting. Below are some of the ones that caught our interest. 

You’re Guaranteed to Win with Insider Information

One of the most prevalent myths in sports betting is the belief that having insider information guarantees a win. While having access to insider knowledge can provide an edge, it’s far from a surefire path to riches. 

Sports events are unpredictable, and even insiders can’t control every variable. Betting smart and doing thorough research is essential, but no bet is ever a sure thing.

Betting on Your Favorite Team is a Must

Betting on your favorite team can be a mistake

Many sports betting enthusiasts believe that betting on their favorite team is a must to show support. However, this emotional bias can cloud judgment – after all, it’s not like your bet helps your team win in any way. 

Betting should be based on objective analysis, not personal preferences. It’s crucial to bet with your head, not your heart, to always make informed decisions.

Parlays are the Road to Riches

Parlay bets, where you combine multiple bets into one, are often viewed as a quick way to hit the theoretical jackpot in sports betting. While they may offer higher potential payouts, they’re also riskier because each bet in a parlay must win for you to profit. 

Though the allure of big winnings is tempting, don’t underestimate the difficulty of correctly predicting multiple bets in a single wager.

Betting Techniques Guarantee Wins

Countless betting techniques promise guaranteed success, but they’re not magic bullets. No system can predict the outcome of sports events with 100% accuracy. Some may work temporarily, but none are foolproof in the long run. 

Betting More Increases Your Chances of Winning

Betting more money doesn’t inherently increase your chances of winning. It can, however, increase your winnings if you predict outcomes correctly or lead to bigger losses if your bets don’t pan out. 

Proper bankroll management and betting within your means are key to long-term success, not reckless wagering.

Live Betting is Always Better

Live betting is not always better

Live betting, where you place bets during a game, can be thrilling. Some believe it’s the ultimate strategy. However, it requires quick decision-making and can lead to impulsive bets. It’s not always better; it depends on your expertise and comfort level.

Expert Picks are Always Reliable

Following expert picks can be a helpful strategy, but it’s not foolproof. Even experts can get it wrong. Relying solely on their advice without your own analysis isn’t advisable. You also can’t rely on every expert’s opinion. Like everything else, you need to check their qualifications and why they call themselves experts.

The More Bets, the Better

Placing numerous bets on various games might seem like a good idea because you have more chances to win. The truth is that you also have more chances to lose, and this can spread your bankroll thin. 

Focus on quality over quantity. Well-researched bets are more likely to yield positive results than a barrage of hasty wagers.

Beginners Can’t Succeed in Sports Betting

Contrary to popular belief, beginners can succeed in sports betting. Just because you haven’t gambled before doesn’t mean your predictions will be wrong. Making correct predictions takes time, patience, a willingness to learn, and some luck. The outcomes of sporting events have nothing to do with how experienced any bettor is. 

The Bottom Line

Believing every sports betting fallacy you come across can lead to poor judgments and financial losses. While this may be true, it’s critical to approach gambling with a clear mind, impartial analysis, and adequate bankroll management. 

It’s possible to be successful in sports betting, but it takes discipline and a commitment to knowing about the sports, teams, and individuals. Remember, there are no shortcuts to winning, but you may enjoy the excitement of sports betting safely if you take the appropriate approach.

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