| Why is it that most sports gamblers lose? | | | | betting on cricket. |
| Bookmakers draw a living from sports gamblers - their | | | | One of the keys to successful betting is having the |
| whole marketing strategy is designed to get gamblers | | | | time to study the trends, angles and other factors |
| to place bets, lots of bets and large bets. But you can | | | | affecting the game. Not only are you competing |
| beat the bookies at their own game. By following a | | | | against the bookmaker, but also against other |
| few basic principles you can even the playing field, and | | | | gamblers as their bets directly affect your odds. |
| your bankroll will begin to look much better. The | | | | Betting with their heart |
| fundamental reasons most sports gamblers lose are... | | | | Another common mistake gamblers make is to let |
| Poor money management | | | | emotions affect their betting strategy. Even |
| One of the main mistakes that sports bettors make is | | | | experienced bettors who spend hours studying trends |
| to place lopsided amounts of money on different | | | | and handicaps fall victim to this mistake. The best way |
| games. The problem with this approach is that it | | | | to avoid this mistake is to bet on sports which you |
| magnifies losses when betting on a "sure thing". To | | | | have no interest in. |
| determine the optimal bet amount apply the "Kelly | | | | Placing the wrong types of bets |
| Criterion". A similar investment strategy called dollar | | | | As described above, a number of types of bets |
| cost averaging also exists. | | | | offered by bookies are heavily favouring the bookie. |
| Another common bankroll mistake that gamblers make | | | | These bets are teasers and parlays (often called |
| is the fallacy of doubling your wager after every loss. | | | | multi-bets), and should best be avoided. |
| Whilst this idea may hold true on paper, it's key | | | | Placing too many poor bets |
| assumption is that gamblers have unlimited funds, | | | | One mistake that the casual gambler often makes is |
| which we know not to be the case. | | | | to let his viewing dictate his betting. For example, a |
| Lack of knowledge | | | | casual gambler will often bet on a game that he is |
| A knowledge of a particular sport is not enough to | | | | going to watch. Never place a bet on a game just |
| ensure success as a bettor. For example, being able | | | | because you happen to be watching it. Only ever bet |
| to name the batting lineup for the West Indian cricket | | | | on games where you have had time to study |
| team will not guarantee you are able to have success | | | | everything thoroughly. |