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8 Betting Myths to Forget in 2020

Over the past few decades, the idea of betting has become less of a taboo and more of a fun and exciting pastime that allows players to put their knowledge of their favourite sports teams, players or events to the test. Of course, a lot of thrill comes when a favourite win and one is able to walk away with a little bit of extra money. However, as betting has evolved throughout the years, plenty of myths have come along with it. Here, we will take a closer look at which myths to forget entirely so that the next time you place a bet, you are able to do so with confidence.

Myth #1: Placing bets is wrong

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A long, long time ago, there was a lot of stigma attached to betting. It was seen as a bad habit and people who did it were often looked down upon, making it illegal in several places all over the world. However, there is no longer any truth to this at all. Everyone loves to make a bet every now and then, perhaps even as a way of showing support to their favourite sports teams and players. So, go on, place your bets – it’s all in good fun, after all.

Myth #2: The NFL is the only sport worth betting on

Again, there is very little to no truth to this myth whatsoever. While the NFL certainly has a big following, by no means is it the only sport worth betting on. Sure, you may encounter more NFL supporters and thus bigger betting pools, but every other sport is just as worthy of a bet. Whatever sport you enjoy watching, be it basketball, tennis, baseball or ice hockey, is one worth placing a bet on. If you have a good understanding of the sport itself, and you know who the favourites and the underdogs are, then the sport is certainly worth betting on.

Myth #3: You should wait until you have all the information before placing a bet

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While this myth does make sense, it is not necessarily the best thing to do for yourself. Yes, things can be unpredictable, especially when it comes to sport. We cannot know for sure what the weather will be like, or whether the line-up will change at the last minute, or even whether or not a player will be injured and be forced to sit out of a game. However, placing your bets earlier may give you the best value. Buying numbers or placing money before the masses come in and move the line can be your difference between winning and losing.

Myth #4: A high volume of bets is bad

Even the best bettors cash their bets in approximately 55% of the time. In fact, betting early and often is the best way in which to turn a profit worth any significance. If you know a lot about the game you are betting on, and you know a lot about betting itself, you will be more than equipped to know the best strategies to apply for yourself. You need nothing more than a simple strategy, no matter if you place just one or two bets or a much higher volume of them.

Myth #5: Following a tipster is the only way to win

This myth is an interesting one in that the only true difference between regular bettors and tipsters is the fact that tipsters have turned betting into something of a profession. Most of the time, they do not have some kind of inside information that will guide you in winning millions. In fact, they simply have more time to select games and analyse the possibilities that could arise from them than you do. They are everyday people, just like you are and as a result, have hits on some days and misses on others.

Myth #6: Online sites will ban you if you win too much

This is a myth that has been circulating for years already. However, it is not at all true. Every bettor that visits an online betting site has the potential to bring more money to the site, so there is no immediate reason to ban someone, even if they have won a great deal in the past. Furthermore, online betting sites are not at all allowed to ban you simply for winning. They do not have the power to. If anything, they may monitor your activity for a while, but that’s it – if you win online, you win fair and square.

Myth #7: Risk-free betting does not exist

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While this may seem counter-intuitive, many bettors have been benefiting from risk-free techniques for years. For example, matched betting and arbitrage betting allow punters to profit from the difference in the odds between sports betting companies. In fact, these kinds of bets aren’t too difficult to understand and for many, provide a little bit of extra pocket money for those who have already won a bet or two.

Myth #8: Once the game starts, the betting stops

While this myth was accurate until fairly recently, it has now changed. This makes placing bets on sports very similar to the stock market. Some betting companies are beginning to post in-game lines, meaning that you can continue to place bets even after the whistle signalling the start of the game has been blown. This type of live betting adds to the excitement of it all, as you can place your bets and increase the stakes all whilst the game is already on. You can experience that excitement on websites like livebetting.nz.

When it comes to betting, there are plenty of myths, many of which came about a long time ago, while the idea of betting was still seen as a taboo. However, in recent years, these myths have dissipated and some of the old rules have been abolished, making for an even more exciting environment whenever you place a bet. Before you place your next bet, remember these myths and don’t let them hold you back as you show your support for your favourite teams and players.

Philip Goguen

Written by Philip Goguen

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