Are you tired of losing money on sports bets and feeling like you're missing something? You’re not alone. Most beginners make the same mistakes when they first start betting on sports, but with a little guidance, you can quickly start turning losses into wins. In this post, we’re going to explore the top 5 reasons beginner sports bettors lose and, more importantly, how you can start winning more consistently.
1. Misunderstanding Odds
They’re Thinking About it the Wrong Way
The most common mistake in sports betting is misunderstanding odds. Many beginners look at odds like -110 or +150 and see them simply as a favorite or an underdog, but the reason they lose is that in their minds, there’s no difference between a favorite of -200 and -250. The truth is that there’s a huge difference, and one that we can better appreciate if we change the odds into a probabilities.
Start converting odds into percentages. This simple step can change the way you approach betting. For example:
-110 odds imply the probability is 52.38% probability.
+150 odds imply the probability is 40% probability.
-200 odds imply the probability is 66.67% probability.
-250 odds imply the probability is 71.43% probability.
Wait… didn’t you just say it’s a huge difference? The difference between -200 and -250 is less than 5%…
The reason this difference matters is because you’re usually working with very small profit margins in sports betting. If the bets you’re making have a probability of 70% to win, and you just accept odds of -250 instead of -200, your ROI will be -2% compared to +5%. That’s a huge difference.
If you’re not translating odds into probabilities, you’re essentially betting blind. Your brain is wired to understand percentages better than odds (even though probability is hard for our brains too), so this shift will help you grasp whether your bets are likely to be profitable in the long run. The key is to think about how often your bet should win based on the odds. If you consistently win more often than the implied probability of the odds, you’re on your way to making a profit.
Pro Tip: Use our free odds converter on Bettor Ed to convert odds into probabilities quickly and accurately.
2. Avoiding the Math
They Think It’s Too Hard
A lot of beginners shy away from learning how to bet on sports correctly because they think the math is too complicated. Here’s the good news: you don’t need to be a math wizard to succeed in sports betting. Basic math—adding, subtracting, multiplying, and dividing—is all you need to get started. Even concepts like expected value are just slightly more complex but are something all aspiring bettors need to understand for long-term success.
If the math still feels intimidating, don’t worry. There are plenty of tools available to make it easier. For example, we provide several simple calculators that can handle all the basic math for you.
Pro Tip: Check out our free betting calculators to simplify your betting decisions and ensure you’re always making the smartest bet possible.
3. Failing to Line Shop
They’re not using the “Synthetic Vig”.
The "vig" is the profit sportsbooks expect to make from offering unfair odds on an event. If they offered +100 and +100 on each side of a coin toss, they would be gambling just as much as anyone who bets on it, and they wouldn’t be making millions of dollars right now. So they might offer both sides at -105 instead, and would profit in the long run. This is how they make money, and it’s also the reason most bettors lose.
Most beginning bettors don’t care if a sportsbook offers bets at -105/-105, -110/-110, or -115/-115, but the difference is significant. To be profitable you’d much rather only have to overcome vig of 2.4% (-105/-105) compared to 6.5% (-115/-115).
If you’re not already doing it, start using synthetic vig to reduce the house edge. This involves shopping around at different sportsbooks to find the best odds, which can significantly lower the vig you’re paying. For example, if Sportsbook 1 offers a bet at -165 and +130, that’s a vig of about 5.4%. Not great. But, if you shop around at several different sportsbooks, you might find the best price available on one side is -150 and +145. WAY better, and now that bet is going to be easier to beat, depending on what you project the “true odds” of that event are. So now you can start to build reasons to bet one side or the other.
Pro Tip:Keep an eye out for our upcoming odds screen on Bettor Ed, which will make it easy to find the best odds across multiple sportsbooks, helping you reduce the vig and keep more money in your pocket.
4. Trusting the Wrong Sources:
They’re Listening to Bad Advice
In sports betting, bad advice is everywhere. Whether it’s from friends, social media, or self-proclaimed experts, there are thousands of people out there taking advice from the wrong people, and it’s costing them money.
Be critical of where you get your betting advice. Treat it like a science. Instead of the betting records people love to post, look at a bettor’s reliably documented Return on Investment (ROI). ROI gives you a more accurate picture of how successful someone really is.
Pro Tip: Avoid paying for picks. Instead, invest time in learning the basics yourself. Our courses are designed to help you become a sharp bettor, capable of making informed decisions on your own.
5. Betting in the Wrong Markets
They’re in Over Their Heads.
Not all betting markets are created equally. High-profile markets like the NFL and NBA are extremely efficient, meaning the odds are often very accurate, and you should treat them like they already account for all available information making it hard to find an edge.
The Fix: Consider betting in less efficient markets, like niche sports or prop bets, where the odds might not be as sharp. These markets often have softer lines, giving you a better chance to find value and make a profit.
Pro Tip: Explore different betting markets to find where you can gain an edge. Our Advanced Course is a great resource for finding the right market, including how to tell if a market is efficient and how to beat specific bet types, like alternative lines.
Examples:
Golf
Tennis
Motor Racing
Russian Hockey
Korean Baseball
Canadian Football League
E-Sports
MANY more
Conclusion
Understanding these five common pitfalls is the first step toward improving your sports betting results. By shifting your mindset about odds, simplifying the math, reducing the vig, filtering out bad advice, and choosing the right markets, you can significantly improve your chances of success.
Ready to take your sports betting to the next level? Explore Bettor Ed for in-depth courses and resources that will help you become a smarter, more profitable bettor.
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