TL;DR
- Gambling myths claim to guarantee wins, which raises a red flag since no win is guaranteed in sports betting.
- A bet on the favorite is a sure win, or banking on a win streak to continue is one of the most common misconceptions about betting.
- Careful analysis and doing smart research debunk these sports betting myths.
If you spend any time on sports betting, you will inevitably hear them, the whispers from so-called experts who share what they swear is a sure-fire way to make money. But the most common myths about gambling are just that, myths.
Why do these sports betting myths persist?
There are some simple and understandable reasons why people buy into misconceptions about sports betting.
- Bettors are always looking for an edge, and gambling myths promise to give you the upper hand over a sportsbook.
- When you buy into one of the misconceptions about sports betting, you feel you are taking a “systematic” and “scientific” approach to the difficult task of picking winners.
- It’s easy to be persuaded by sports betting lies and rumors that a friend of a friend followed and landed a huge win.
Let’s look in detail at the top six myths about sports betting, and why you should feel confident in ignoring them all.
Myth #1: Betting on the favorite is always the safest option
This is one of the biggest misconceptions about sports betting. Because an athlete, team, or horse is the favorite, it must be the best bet available.
That simply is not the case. Just because a sportsbook rates this as the most likely outcome, that does not magically ensure that the favorite will win. Watch sports for long enough, and you will soon see there are plenty of times when the underdog has its day.
If you bet only on favorites, you will not always win, and the fact that the price of the favorite is the shortest available means that even if you do, you will not get much in return.
Myth #2: Betting systems guarantee long-term profits
There are hundreds, even thousands, of betting systems available to the modern sports bettor. We are not talking here about the system that involves hard work and hours of diligent study; no, this is the type of system that says “if x, then y”.
Systems can apply to staking plans, or statistics, or other conditions at a sports event that, when met, require you to stake big. That ties in with one of the biggest sports betting lies, which is that you can guarantee a long-term profit.
There are systems that, combined with your knowledge and experience, can give you a better chance of beating the sportsbooks where you place your bets. But any time someone says they can guarantee a profit, you know you are dealing with a purveyor of gambling myths.
Myth #3: Hot streaks are real indicators of future wins
If a team or an athlete is in form and looks like they cannot stop winning, that means they are going to keep winning, right?
Unfortunately, this is one of the most common myths about gambling. For one thing, if a team goes on a hot streak, its odds in the next game are going to be incredibly short. If the New York Yankees win six games in a row, you will have to put a pile of cash on the moneyline to make a tidy profit, and the points spread will be prohibitive.
Just because a player or a team is on a hot streak, it simply does not mean it is certain to continue, and the books will be waiting to cash in when the streak ends.
Myth #4: If a team or player is “due”, they’re bound to win
This is one of the most persuasive and misleading gambling myths you will ever hear. It argues that because a team or player has not won for a while, it follows that they must surely land the odds next time.
There is no such thing as “due” in sports betting. Teams or players do not win simply because it is their “turn” or because it has been a while since they last landed on the win column.
You may get a tempting price for the team or individual in question. And they may indeed win. But if they do, it will be because they performed best on the day, not because they were due to do so.
Myth #5: The more bets you place, the more likely you are to win
On the face of it, this seems to make common sense. Spend more to cover more outcomes in a game, and surely it is more probable that you will get a payout?
Well, yes. But this belongs in any biggest sports betting myths list for one simple reason. You may back more winners if you place more bets, but you will back more losers too.
If you try to cover as many outcomes as possible in a sports game, you may sometimes find that all your props pay off, as well as your points spread and moneyline. But there will be times when they all lose.
Think of it like a game of roulette. You can put your chips on as many numbers as you like, but only one will come up on each spin of the wheel.
Myth #6: Home field or home court advantage is always significant
Home-field advantage is one of the many factors to take into account when planning your wagering on a particular game. Over the years, the squad playing in front of its own fans does have a slight edge. In Major League Baseball, the home team wins 55% of games, a similar percentage to the NHL. In the NFL, it’s between 55% and 60%, and in the NBA, it’s about 60%.
But that does not mean this outweighs every other significant factor in assessing which team might win. Crucially, the offshore sportsbooks don’t miss a beat and will also factor home-field advantage into their lines.
Conclusion
While some sports betting misconceptions are undoubtedly persuasive, there are strategies you can use to ignore them when you are making your picks.
- Examine them closely: When someone shares a gambling myth with you, don’t simply believe them. Check it out carefully and you should soon realize it’s based on hope rather than expectation.
- Trust your own judgment: Don’t rely on a myth, believe in your own instincts and experience as you build a sustainable, long-term betting strategy. Look back over your successful bets to work out how and why you made them.
- Stick to the facts: It may take more time than simply following a myth, but a cool and controlled approach to your sports betting will pay off better in the long run. And please bet responsibly at all times.
We hope that this helps shed light on the betting myths you have come across in one way or another. If there’s one thing you need to take with you, it’s this: your betting success does not come from shortcuts or superstitions. The best edge you can have is a clear mind and a strategy based on truth.
FAQs
What are sports betting myths?
Sports betting myths are ideas that suggest there are ways of wagering that are certain to bring you success. They prey on our need for a helping hand when making our picks, and the desire in every bettor’s heart for an edge over the sportsbook.
Should you follow a system when sports betting?
There is nothing wrong with following a system, but it should be rooted in logic and analysis rather than a fanciful gambling myth. Find your own strategy, but remember there are no simple shortcuts to success in sports betting.
What is the biggest myth in sports betting?
Probably the biggest of all gambling myths is that you can guarantee a long-term profit by following a particular system. Always be flexible when wagering on sports, stay in control, and adapt your staking when required.
Does sports betting rely on skill or chance?
There is skill in sports betting, but it is rooted in rational analysis rather than any of the most common myths about gambling. If you follow a gambling myth blindly, you are effectively leaving things to chance, and that rarely ends well.
