Betting Beliefs Across the Globe– Works Of Fiction Or Fact?

betting button on keyboard for online sports betting

Popular Betting Beliefs

The betting public in Australia has always held on to a number of popular betting beliefs, whether they are real or not.

The betting world is full of fact and fiction and differentiating between the two can be quite difficult. As betting is often a superstitious activity as well, many punters have an unwavering idea of what is true, whether they are actually correct or not.

Bookies Always Win

Betting sites and bookmakers are a business. The aim of any business is to make money, so with that in mind one can mark this belief as true, to a certain extent. If a bookie or betting site was consistently running at a loss, they wouldn’t be around for very long which would be counterproductive to both the people who work hard at setting it up and running it and the punters who rely on it as a source of online sports betting.

Bookmakers and betting sites do always win in the long run. Not necessarily on individual wagers. Long term betting is in their favour, meaning that they draw a steady profit from the multitude of punters who make use of their services.

Sports Betting Is All Luck

Sports betting is a very different kettle of fish to gambling. Gambling is placing an amount on a game of chance, which means that it relies purely on luck for you to win. Sports betting is a game of skill.

You can strengthen your position with good, sound knowledge of the sport on which you are pacing a wager, as well as how the actual online betting system works.

The more you know and the more you study the trends of your chosen sport the luckier you will become. As a famous person was once quoted saying: It’s amazing how your luck increases the harder you work.

betting beliefs - Luck versus skill in online sports betting

Wining Accounts Are Limited

This is true to a certain degree. An online betting site in Australia has to limit an account which wins again and again.

Again, betting sites are businesses and under no obligation to take your bet. With that in mind they do sometimes limit accounts from proven winners, or people whom they feel are taking advantage of different sites in order to turn a profit. This is looked on in the same way as counting cards is viewed in a casino.

Value is The Most Important Thing In Sports Betting

Value is of course an important factor in placing a wager on anything from a tennis game to horse racing betting. There is no point in backing a winner with such high odds of winning that you really don’t get much out of it.

One of the most popular betting beliefs is that if you only place good value bets, you should win eventually. This is a hard one to work out as value is totally subjective in sports betting. Handicaps and odds have been put into place to ensure that punters bet on a range of outcomes and not just the favourite.

Of course, if a punter is clever they can look for an overlooked outcome which may end up in paying out to a great extent. This would not be classed as a good value bet, as the outcome is not as likely, but the odds and percentages greatly outweigh each other.

A horse set to win as a favourite at 5/1 may be a good value bet if the chances are higher than 20% that it will actually come to pass. This would be a judgement call however, and may differ from person to person. If you are looking to get a greater edge when placing your bets online, you should consider a reputable online sports betting guide to help you improve your betting game.