You know the ones we are talking about here. Those seemingly eternal sports betting myths that never go away. Really. You owe it to your sports betting success and better still your wallet to put those myths to bed. With that in mind, here is quick down and dirty replay of some of the worst sports betting myths out there.
Probably the most prevalent of all of the sports betting myths is that of wagering on the Favorite. When you think about it sort of makes sense. After all, you might be thinking to yourself: “…if everybody is thinking this way, they must know something I don’t. Better safe than sorry”. Uggh! Not so much.
You may recall a somewhat famous quip from a few decades or so ago. This quote summarizes the key problem quite succinctly: “…the crowd is usually wrong…”. Not all the time, to be sure. Yet often enough that should you find your self thinking you will simply play it safe and bet on the Favorite, you might want to halt for a moment and reconsider what and why you are thinking that way.
There’s more. Consider that nowadays, at least with professional sports, there is quite a bit of parity between the teams and the players. That is why the professional sports betting handicappers spend countless hours poring over statistics and formulas in a desperate attempt to find even a small factor that could affect the final outcome. Reality: betting on the underdogs can often end up with superior results.
Another big sports betting myth that you want to let go of is the one that assumes that what those sports analysts on TV report is the gospel truth. Spoiler Alert: Not true. In fact, in a shocking number of instances these so-called professional sports analysts turn out to be pretty far off. But hey, don’t blame them. It’s not their fault. Remember these guys or gals as the case may be are paid to talk about a team, a player or an event. At the same time make sure you understand the easy to overlook point that these folks are not professional handicappers. They are not running a professional sports book or anything like that.
As you can plainly see from the above, it could be that that one or both of the sports betting myths discussed above could be putting a dent in your wallet. When it comes time to pull out your cash for your next sports bet, make sure these myths are not getting in your way.
Before you reach into your pocket to yank out your wallet to place your next sports bet, you may want to pause for a moment and reflect on how handicapping works and how you can best use it to your profit.
First up, a quick definition. What does Handicapping actually mean anyway? After all, you don’t want to be one of those sports bettors who think they know what it means only to learn later on that your definition is not quite right. With that in mind, understand that Handicapping is nothing more than an attempt by the sportsbook to balance the equation.
It works by assigning a point or other similar marker to different contestants based on their relative advantages or disadvantages. For example, most often the player who has been around a while and has gained more experience than a rookie will be de-rated or disadvantaged. What the sportsbook is attempting to do here is to rate or derate the players, the team, etc. so that after the points are added or taken away, each would then show an equal chance of winning.
Is your head spinning yet? Relax it’s no big deal. It just looks complicated when you try to lay it out as above. How about a real world example so this makes more sense? Suppose you log into your favorite online sportsbook. You quickly find the game you are interested in placing a wager upon. On the display for that game you see it laid out something like this: Team SK +6.5 -110 Team TR -6.5 -110
What does that mean? That display you are looking at is telling you in no uncertain terms that your sportsbook sees Team TR as the overall favorite. In this case, Team TR is actually favored by 6.5 points. Translation: like the proverbial coin toss over many repititions, the 6.5 point favorite simply is the math that says if the game was repeated many times, on average, Team TR would end up winning by 6.5 points. Now don’t fall into the beginner’s trap here.
Remember, this is all based on statistics. Hey, you do know what they say about statistics right? Something like there are lies, damned lies, and then there are statistics. Anyway, you have to work with something, so you use what you got. Moving on, the whole point is to understand that the number, the 6.5 up above is the handicap for that game.
Bottom line is this: handicapping is a key part of sports betting and now you have a better understanding of what it is all about.