Why You Will Lose Money by Sports Betting
January 12, 2016
It is these differences in the betting odds thatensure that you will never win at sports betting.
You could win eight times out of ten then lose all your profitson the two games Chelsea lost or drew. Nowadays, there is a way for you to become thebookmaker, due to the emergence of Betting Exchanges such as Betfair andBetdaq.
That was a very simplistic example. In practice making abook (as they call it) is almost impossible. The odds just don’t allow it. If Chelsea draw then I lose 10, I can only winif Chelsea wins.
Gambling over the Internet
Sportsbetting has never been easier to do. A very simple example:
I place a 10 bet on Chelsea to win
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 systembecause their earlier ones don’t work.
. Exchanges usebots (software) to keep the odds markets artificially fluid that ensure thatpeople will bet more, especially when an event is in running.
Intheory you can become the bookmaker by laying every outcome so that you willmake a small profit once you have paid out to the winner. Itis very unlikely that you will ever get the odds needed to complete a book. In reality it’s much morecomplicated. They offer generousincentives for you to join them with some sites offering to match your depositup to 200 and do you know why? It’s because they know that they will get theirmoney back plus most of yours.
Someone else bets 10 that Chelsea will not win.
Theonly person to win is the bookmaker, when did you ever see a bookmaker riding abicycle? Never is the answer. There are literally thousands of sites onthe Internet all dying to get their hands on your money. The exchangetakes a 5% cut from the winner of the bet. Even if you do become successful and manage a winning streak,the chances are that bookmakers will limit or even suspend your account and insome cases just refuse to pay out. Youmay even manage it once but then to keep on doing it, is very unlikely.
A betting exchange is different to a usual bookmaker because youare matching your back bet with a lay bet placed by someone else. It is all down to maths. In other words, the more successful youbecome then the less you will actually win until eventually you lose any profitthat you gained.
If Chelsea wins then I win 10 – 5%
Can you see that I am at a disadvantage from the start? IfChelsea lose then I lose 10. Chelsea are expected to win most of their games and so the oddsfor Chelsea to win are very low, whereas the odds on the other team to win andthe draw are quite high
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