Sports Betting … Myth vs. Reality
Sports betting can be taken two ways. First as a way to add a little extra to a game for the casual bettor. Secondly, as a way to make a living for the competent professional.
Often times the casual bettor will dream of becoming a professional. It is there they meet with equal volumes of myth and reality. Those who know the reality can succeed. But most fall prey to the myth and end up among the 95% of all bettors that lose.
The myth is that there is or can be a perfect betting system. A system that is so good it will never lose. That way, all you have to do is place a bet or two every day and make as much as you care to make. What could be easier for the lazy wannabe professional sports bettor.
To fill this need, a simple search will reveal numerous betting systems that promise a 97% winning percentage. I would guess that if you threw in a few more filters and extended the progression a couple of more games, they could go all the way up to 99.9% winners.
These items set the worst possible expectations. A system believed to be foolproof in the hands of a fool will inevitably make the bookie very happy. The 97% systems work, but the losses on progressive betting systems can be very costly. It requires at least 8 wins to offset a single loss, so they better be good.
In short, a perfect betting system is the myth. The myth is compounded by the belief that the perfect systems exists to begin with. I do not know them all, but of the professional sports bettors I do know and associate with, none of them use progressive betting for any significant wagers.
The reality is that all it takes is a 53% winning percentage to profit. A 60% winning percentage will allow the sharp sports bettor to write their own ticket.
The good professional knows he will lose a lot of bets. They do not call it gambling for nothing. But they also know their system will produce a winning percentage over time and make them a lot of money over the course of the season.
They also keep their systems a secret, so the books can not adjust the favorable odds the system allows them to bet with. Selling the system could cause adjustments to the odds by the bookmakers that could seriously hurt the profit potential.
The myth is that you can buy a foolproof sports betting system that will win every time. The reality is that it takes an unknown system that wins at 55% or bettor, and a lot of bets placed using it.
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