Are you an avid sports bettor? Do you place a wager on sports frequently? Most importantly, how often do you win? I have been conducting studies on sports betting behavior and sports bettors’ psychology for a few years now to derive the relations between certain characteristics and the rate of profits for different individuals. I concluded that there are 3 prominent groups of people that bet on sports regularly, and you will be really surprise to know the vast difference in profits each group makes.
The first group is the social players. These people are essentially sports fans and bet on sports either according to their gut feel or by predicting the match outcomes from their “many years of experience watching sports”. These people make up for the majority because they totally overlooked the bookie-player aspects to sports betting, causing them to almost always lose in the long run. Some of these are small players, placing bets just to make watching the games more exciting. And some of them genuinely believe that they can beat the bookies simply because of their strong knowledge of the game. This group of people is the bookies’ dreams come true because their mentalities and naivety will ensure that they fall for the same traps over and over.
The next group of players is the one who are attracted by the high payouts. Some of these people know minimally about the games that they bet on, but they are a little bit like the speculators on the stock market, observing past results, head to head records and chart out graphs of the fluctuation of odds to make sure they place the winning bets. Interestingly, the statistical approach that this group adopts is more likely to bring higher returns as compared to the first group even though they know less about the sport. The biggest danger for the second group is that while some are more aggressive than others, they are in sports betting because of the greed for short-term, fast profits, thus encouraging many impulsive, short-sighted decisions that can be truly damaging. The gamblers struggling with serious addiction problems fall into this group, because they always believe that they can beat the bookies, yet they keep adopting the wrong mindset and approach over and over.
The last group of sports bettors is the elusive, mystical bunch of pro players that really bet for a living. I estimate that they make up for less than 5% of all the people that bet on sports around the world, but probably make up for something like 50-60% of the overall payouts made by the large bookmakers around the world. I have been studying on sports betting for a couple of years now and have been privileged enough to meet a few professional sports bettor online. After studying them and their habits for success, I concluded that being able to profit from sports betting over time is indeed an art to master. It requires a combination of skill set, proper mindsets and most importantly strict self-discipline. Many of the criteria can take years and years of experience to develop, but of course, the reward that comes with it is extremely lucrative.
In conclusion, there are some traits that are must-haves for players that profit over time with sports betting. Surprisingly, not many people pay much attention to this because they believe that everything about sports betting boils down to luck. If you happen to be one of these people who stands by the belief that “the ball is round”, and therefore luck is all that matters, you may want to give up sports betting right now and save yourself from losing more money. Each and every successful sports bettor sees sports betting as an investment and not a gamble first and foremost, and such mentality gives them a clearer mindset to strategies their long term profiting plans. Having said that, if you are just a hobby player that wants to place a few dollars to make the watching of the game more exciting, you can, of course, not take things so seriously and have some fun out of it!