College Basketball Betting: Why Most People Lose
By Loot, NCAA Basketball Handicapper, Lootmeister.com
Some people who lose when betting college basketball are simply not any good at picking winners. That component is definitely at play. For the most part, however, people’s failure at college hoops betting doesn’t come down to that. It’s because they haven’t mastered the art of it. There are things that just aren’t on their radar--necessary ingredients in becoming a winner at wagering on college basketball.
First of all, losers underestimate their opponent--the sportsbook, not to mention the whole “house vs. player” dynamic that governs gambling. Go to Vegas. Look at the casinos, now look at the people. Now do it again. Who’s the winner here? So, we know before even stepping in that we better go above and beyond what the normal person does in order to have a chance.
Guys tend to bet on college basketball without a robust respect of what they’re up against in this battle. That is one of the reasons why the vast majority of them lose. The real numbers are hard to come by, but the theory is that just a few percent of all people who bet on college basketball are successful at it over the long-term. Funny that everyone goes into a sportsbook thinking they’re gonna win. And that they can do it again and again. The odds are against it in a big way. One way to try avoiding that fate is by really taking to heart the difficulty of being a consistent winner betting college basketball.
How closely you adhere to your plan and philosophy is of utmost importance in this form of sports wagering. Any number of things can throw us off-center. Our ability to keep our composure is what just might make us a winner. We have standards for what we bet on and what we leave alone. We have a pre-determined amount we bet on on all our wagers. And while we might dabble with a teaser or prop bet here and there, we make sure the meat-and-potatoes of our wagering is straight bets--on a side or a total.
It sounds good, but once things get a little sideways, the tendency is to step outside the boundaries of our plan and begin swinging it from the hip more. Remember when you stuck to what you knew and only bet on teams where your knowledge and familiarity was high? Start losing a little and if you don’t check yourself, you’ll find yourself betting on a Niagara game. Talk about off-the-grid. In college basketball, you can take that to ridiculous extremes.
You may have started off with good intentions. You were betting a small and equal amount on all games, but you ran into a sour patch. A few weeks later, you’re in a bit of a hole. It is at this moment where your mettle will be measured. Do you gather yourself and your mental resources and slowly try to rebuild? Or do you try to double-up? If the latter scenario applies to you, that’s really bad news. A person who tries to double-up doesn’t just do it once. They’ll do it again. And since you’re not going to win all of them, the only possible outcome is you getting busted.
We need to re-calibrate our sense of immediacy. That might be the most difficult part. In today’s world, we’re no longer in the habit of waiting. We want everything quickly, from our food to our entertainment. That might be part of the problem. College basketball wagering is partially entertainment, even for those who are serious about it. It becomes a problem when we become impatient with it.
Our expectations need to be in-line. We can’t expect college basketball wagering to be some fast-paced road to riches where our scary-impressive wits get us to the top of the pile. This is not fodder for a movie, it’s real life. And in real-life, success in college basketball wagering is not as glitzy as one might think. It’s about slowly building up to a certain level. It’s about winning a little more than you lose over a long-haul. It’s about remaining disciplined and committed to a course of action that gives you the best chance to succeed. Throwing stuff against the wall to see if it sticks and taking gigantic risks is how you go broke. Before you assume it can’t happen to you, keep in mind that casinos are built on the fact that people tend to lose control. Don’t let it happen to you
Tip: Betting on college hoops games at discounted odds will save you money. It gives you more to bet on games and less to put at risk. If your bookie is charging you -110 odds, you need to dump him in favor of -105 reduced odds at the web's best sportsbook: 5Dimes. Wagering at -110 odds is foolish and hurts your chances of winning... So why are you doing it?
