Millions of people love betting on sports. The sad reality is that the vast majority of them will lose money over their gambling career.

Understanding why so many people end up in the red is a complex proposition.

With that being said, there are a few main reasons why even the most knowledgeable sports fans end up losing in the end.

In this article, I’ll lay out some of the most common reasons why only a small percentage of gamblers end up being profitable over the long run. Keep these reasons in mind and maybe you can avoid the pitfalls that have kept so many bettors from consistently winning money.

Betting too frequently

Betting is certainly a risky affair, and you won’t be lucky at all times. A lot of bettors become blinded by greed, and they indulge in frequent betting. This is a big mistake they commit. Thus, you should bet only when you have the knowledge of the sport, sufficient money to bet, and a keen interest in the sport. You will not keep winning till the time the odds are not in your favor. Betting is just like a sport, and so you make sure that you do not take part in every tournament being played.

Money management skills are poor

If you have read much about sports betting then you have likely heard someone say that money management is at least as important to sports betting success as good handicapping is. The reason you keep hearing that is because it is true. Losing bettors don’t have a good grasp on what good money management is, and they expose too much of their money to situations that aren’t favorable for them. They also don’t have a big enough bankroll for the bets they are making, and they don’t have the discipline to maintain the ideal bet size regardless of whether they are winning or losing. Finally, they don’t realize that chasing losses is the surest way to go broke.

Lack of knowledge

Most of the sports bettors know that betting is a risky thing as there is a huge amount of difference between having knowledge in the NFL and having knowledge in NFL betting. So having the complete set of details about the offensive line of a team is not likely to help in winning a bet. Also, what a lot of sports bettors do not realize that they are competing against one another and that they spend hours studying the trends, betting angles, player injuries and handicapping. So if you don’t have time to read the games, try to find the sources where you can get such information, maybe on a forum, some reputed sports site, etc. There is even a joke on sports bettors who lose very frequently and that his bookies start feeling sorry and suggests that he may want to try betting on some other sport, maybe hockey.

Betting on the wrong events

Smart bettors know that knowledge is power in sports betting. That means that they will only bet on events that they understand and that they are able to evaluate and handicap effectively. They also know that the more public attention a game has the less likely it is that there is real value in the line. As a result, smart bettors will often look for less popular games to play, and will avoid a game entirely if they don’t know anything about it – regardless of how much people are talking about it. Losing  bettors, on the other hand, will be drawn to their betting spots because they are on TV or because they are generating buzz.

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