Sports betting
Sports Betting — The Hidden Dangers
I don’t believe in luck, I believe in probability. — Jesse Livermore
Ironically, he was not taking about gambling, but rather the stock market and his investments. But, parallels can be drawn from the stock market to sports gambling as well, and I believe they are one and the same. Having started betting since the 2022 World Cup, sports betting have taught me many life lessons… in which some are rather interesting…
What do I bet on?
Gambling in Singapore is a monopoly, meaning the government takes control and ensures that only 1 company that is licensed to operate — which is SGPOOLS. This causes odds to be lower than other sites, as the government is able to control odds due to the monopolistic nature of the good.
- Don’t always bet on win, lose , draw.
Sometimes, its harder to predict who will win or lose, but much easier to predict if both teams will score or which team will score first. About 50% of my bets are not on which team wins fulltime, but rather, which team scores first or the number of goals in a game. Diversifying your bets is wise as some games may be hard to predict a winner when both teams are evenly matched.
2. Look at League, team form and other external factors.
Refrain from betting on lesser known leagues like the — SPL, J-League, instead, bet on well-known leagues such as the Premier League, La Liga as the teams perform more predictably.
Look at a teams form before betting on them to win or lose. Footballers are human too. If a team has been on a losing streak, the odds of them to win the next game even against an easy opponent is much lower compared to that on a winning streak.
Lastly, look for any external factors which may influence a team’s performance. Rotation to the team due to cup competition or injuries also greatly affects the team’s ability to win games. After all, the players on the pitch are the ones that are going to make the difference. Look out for matches which are derbies, eg. Manchester City vs Manchester United, as these games are hard to predict a winner, even if there is a clear favourite.
3. Risk and Reward
The more you bet, the more you win and likewise, the more you can potentially lose. The odds of a game tell you how likely a possible scenario is to come true, the higher the odds, the less likely it is to past.
Bet only on games with odds higher than 1.5. Although the risk is low for bets below 1.5, the winnings are low as well, and hence, the chance of a possible upset may wipe out your money as you try to bet more to win more.
Nothing is for certain..
“so.. that’s it? why don’t I bet on matches that there is a clear favourite to win every single time?”
Well, nothing is for certain. Even the best of teams lose sometimes, and sometimes when you least expect it. One example would be the FA cup final where Man City where the huge favourites, but Man United pulled off a masterclass to win the final. The result was hugely unexpected, and this goes to show that your bets are not safe — even the safest of bets still has a chance of being overturned.
Hence, when you place a bet on something, you must be prepared to lose it, no matter how sure are you on the result, as this is football.
Downward Spiral of losses
Losses are inevitable in gambling, you will lose at some point, but it is important is that you bet on games with a clear mind, and not bet angry. Not thinking straight could cause you to bet on things that are rather risky and lose even more money, sending you on a downward spiral even more to win back the money you originally lost.
As seen above, this could cause you to bet insane large amounts of money with the hope of getting your money back. Ultimately , it will take a toll on your mental health betting such large amounts of money.
Baltasar Gracián “Quit while you’re ahead. All the best gamblers do.”
To conclude, having sports gambled since 2022, I’ve come to the conclusion that sports gambling with the motive to make money is more dangerous than you think. Making money this way is rather unpredictable and unsafe. As such, I only engage in such with small amounts and as a leisure activity, rather than to make money. Ultimately, there are better ways to invest and spend your money… so… gamble at your own risk … :))
