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The Winner/No Winner Betting Deception

Anyone can learn how to bet on sports for profit and the best might even get rich. Of course, making a profit is not easy and you have to put some effort into it. The truth is that you have to work much harder than most people are willing to. For those who want to be more than Sunday bettors and learn everything about betting on sports, we have some great advice and tips. If you want to learn how to bet on sports for profit and get past the winner/no winner deception, continue reading this article.

From the outside, betting on sports seems easy. Most people are tempted to take a shortcut in their minds and just know that a team is going to win, even if they have an unexplainable reason to believe so. For example, someone would think that Barcelona would defeat Everton without any difficulty in any football fixture, unlikely as it may be. They believe this because Barcelona is the best football club in the world, so they should win against their mid-table opponents. Thinking this way will sooner or later result into financial loss.

Of course, Barcelona can win 8 out of 10 games and you can brag to your friends about you strike rate, but the question is, have you actually made any money? The important part is the price you got and how much money you made if the price you took was 1.15 or 1/7 fractions. Picking winners without an in-depth analysis can cause such problems. Moreover, if your friends want to learn how to bet and you give them betting tips, they will probably be very upset if your strike rate is not endorsed by a considerable increase in their budgets.

For example, if you bet 100 units per game for 100 matchups, you will book 115 units each times Barcelona wins and 100 units less every time they lose. In this case, you booked 80×115 units 80 times out of 100 when Barcelona won. This means 9200 units won, but if you take into account the fact that you have wagered 100 units 100 times, the deception becomes obvious. The 10000 units wagered minus the 9200 won equals a loss of 800 units. Because of the cognitive biases, a bettor can actually believe he made money, or that he did even.

This proves that it is not wise to think in terms of winner/no winner when betting. When you bet on sports, attach the probabilities to the possible outcome. In order to successfully bet, you must be capable of evaluating the offers bookmakers present and decide if this winner is good at the given price. By keeping this in mind, you can significantly improve you chances of winning.

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