The Big Myths of Online Sports Betting

The online sports betting is now big, the statistics are showing the there is more than $1B a week in wagers in United States on football alone. The Super Bowl is the biggest events and it attracts a massive number of bettors (millions) where there are more than $5 billion wagered.

Since sports betting is gambling, it is full of myths and superstition that are considered to be a general belief that most players considered to be true, however the truth is totally different. Here is a short guide with some of the most popular myths related to online sports betting.

Bet only on the favorite team and never on the underdog

There is always the common myth that in order to be successful at online sports betting you only need to bet on the favorite team and never on the underdog. This myth is definitely not true, since the underdogs are the ones that are able to bring you some nice profits. In fact the underdogs are always considered to be some nice opportunities since the payouts are going to be higher.

It is illegal to place wagers online in United States

The law that has generated a lot of rumors says that the bookmakers are illegal in US and placing a wager online at an offshore bookmaker does not break any law of this country.

There are betting systems that guarantee you to win

While information, knowledge and a system to apply on your betting is definitely able to bring some really nice profits, there is very little you can do to be 100% sure that you will win. The sports betting is most of the time based on hazard and at any game on which you are placing bets, everything is possible. This means that you will never be able to find a system that works 100% sure. However you should always do your homework, research and start placing some winning bets.

Bet on the NFL only when you have all the information

The injuries along with the weather report are definitely important when you are placing a bet, but when you will place a bet earlier in the week, the odds are most of the time better. This means that if you know your things right, you should start buying the best odds before they start changing. This can really make a difference and can sometimes be the small difference between winning and losing.

Over bet – Losing bet

There is a very common misconception that the over bet is bad and you should always bet the under bets. Football is changing rapidly and based on the numbers that the bookmakers is offering you should make the right choice.

The sportsbooks are using inside information

This myth is definitely not true. First of all the bookmakers are not placing bets, you are. Instead of risking money, the bookmakers will take out a house edge on every bet that is being placed. And this means that having inside information is never going to affect you in any way. At the same time the odds that are being offered are taking into consideration a lot of factors including the bets that were made so fare and all these are taken into a very complex algorithm that will bring the odds.

The games are fixed

This myth is very interesting because there were always games that were fixed and there will be games fixed in the future for the sports betting. However this is not a very common practice and the risks involved into doing this are so high most of the time that it doesn’t make sense for the teams to do it.

Only the bookmakers are making money

This is totally not true and this is a very common misconception. There are many bettors out there that are earning a living out of placing online bets. There are many professional sports bettors that are relying on statistical and fundamental analysis in order to place winning bets. This means that they leave no place for personal favorites and emotions. There are many people out there that are winners and the bookmakers are definitely not the ones that are making profits. Just make sure to do your homework correctly and you will be able to cash out some really nice sums of money.

Sports betting is solely based on luck

The luck factor at the online sports betting is definitely important but it will only affect you over the short term. There are a whole other number of factors that you have to take into consideration before you are able to actually be considered a professional bettor. And the pros are always winning over the long term thanks to their knowledge and skills on finding the best bets that are available out there.