Challenge of developing the right mindset in sports betting

Imagine you are about to bet on a match for tennis.

It is the US open and in the second round Novak Djokovic is playing against Steve Johnson Djokovic is ranked currently 1st in the world and Steve is ranked 33 worldwide.

Djokovic has made it to the final of the US open for over 8 times, Johnson has never gone past the third round. 

Which player would you prefer to bet on?

The answer that is obvious is Djokovic of course as the odds are against Steve winning against him.

But with that, the odds on Djokovic happens to be so low that placing 100$ wager you will only win $1 and for Johnson, the odds are high that if you place $100 you have a chance of winning $100.  

With such odds, will you still bet on Djokovic? 

It is not obvious now even though Djokovic seems to be the ultimate winner, he is not worth having to risk $100 to win only 1$. Though Steve doesn’t have a big chance of winning, but he still has a chance and it could be tempting to back him all the same. 

Now, there is no bookmaker including ufabet8 that would offer such odds on a tennis match. The example was just to simplify everything. It shows that, betting on the outcome that seems obvious is not always the right thing that should be done. 

Most sports bettors normally bet on what they feel is going to happen. They want to be able to win most of their wagers as they could, and they figure that betting on the outcome could be the best way to do that. They could be right, as backing the most likely outcome every time might be what could result in many winnings of several wagers.

The problem with such bettors is that their mindset tends to be wrong. It might be something that is surprising you, but they should not be focused on trying winning several wagers. Why not? That is not the best way of making money. To win wagers is seen to be a good thing because that is how you end up making profits but to only win many wagers doesn’t guarantee that you will end up making profits. 

On the overall it is possible for a bettor to win at least 80% of the wagers and at the end make a loss on the overall. Alternatively, it is possible to win just 40% of the wagers and make a high overall profit. It will all depend on the odds.

As a bettor, if you end up focusing on winning several wagers, and bettor on the outcomes that are likely, then you will bet at odds which are quite low. It will then lead to payouts which are quite low which can easily be wiped out when you end up losing. 

But that doesn’t mean that you don’t have to bet on low odds? nor does it mean that you should always bet on high odds.