Why Most Sports Bettors Lose Money

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Most of the people who bet on sports lose money. The most cited figure is 98%, but who knows how they came up with that. Whatever the actual, those who lose money are the vast majority of all bettors.

It is obvious that somebody who loses doesn’t know why. Otherwise, they would correct the problem and be winners. So if you are still losing betting on sports, the first step in winning is to learn why you lose.

Most bettor just have no idea what they are doing. They will look at stats and records and take their best guess. Some weeks they may use a system, other weeks who knows. Some games they bet big, others not so big. They have no known advantage and depend solely on luck to help them win. Luck is unreliable at best.

The winner will always bet a known edge, and they will never place a bet when they don’t have an edge. An edge is found in any game where the probability of a win is identified and it exceeds 53%. If no edge is identified, the winning bettor will not bet the game.

Edges are not that hard to find, but big edges are. A winning better is very happy with a 55% probability of a win. They know if they bet only games that have that edge, or greater, built in to the situation, they will win money off of it.

If you want to win you have to do the same thing the winners do. Always bet when the edge is in your favor. If there is no edge, or you don’t know what it is, don’t bet the game. Bad bets with no known edge are why most sports bettors lose money.

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