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Feature
Dan
Gordon
The
6 Big Myths of Sports Betting
Year after year, NFL bettors go
into the season filled with confidence and end up losing. How can
this happen?
Pro
football is the biggest betting sport in the United States, with
total wagers now running more than $1 billion a week. According
to USA Today, over half of the American adult population had a financial
stake of some sort on the outcome of last years Super Bowl.
That translates to over $5 billion wagered on that game alone.
Among
the reasons pro football is the most popular betting proposition
is that the NFL receives such thorough coverage on television. With
nearly every big play shown in replay during the game and many times
thereafter, a viewer cant help but see who made the big runs,
catches or blocks that week.
The
print media also covers the NFL very closely. Box scores and colorful
stories by sportswriters can give fans a strong impression of what
happened in a game.
In
addition, although betting on the NFL is illegal in nearly every
state, the point spread on games receives extensive coverage in
both the print and televised media. Late in the week, many newspapers
have staff members make selections against the point spread. ESPNs
Chris Berman and Hank Goldberg, as well as many radio commentators,
make weekly selections as well. All of this coverage makes the point
spread enticing for viewers. The information encourages them to
form their own opinions. Some bettors follow the advice of favorite
writers or commentators. Others try to prove they know more than
the experts. And for any fans who still feel they lack expertise,
hordes of sports services or touts offer to fill the gap. Most of
them promise fabulous returns of 70 or even 80 percent winners,
as if the people who book NFL games were the biggest suckers in
the world.
Nothing
could be further from the truth. Bookies love the NFL season. It
provides them with their greatest profits in sports.
The
average bettor, on the other hand, despite all the touts and information,
loses season after season. The late Bob Martin, manager of Las Vegass
first casino sportsbook, once told me that the number of bettors
who win betting pro football is so small that "it is virtually
the same as if no one won."
Year
after year, NFL bettors go into the season filled with confidence
and end up losing. How can this happen?
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