Sports betting patrons, especially those captivated by the allure of the most competitive league in the world – the English Premier League (EPL) –, seem to think that they are the smartest of all gamblers.
They assume that with experience and knowledge of player’s statistics, teams’ strengths and weaknesses, home advantage, manager’s tactics, results of previous head-to-head meetings, weather conditions, and stadium capacity they can predict the outcome of a game better than the average person.
But in a study published in the Journal Psychopathology, Prof. Pinhas Dannon and Dr. Ronen Huberfeld of the Beer Yaakov Mental Health Centre determined that neither betting experience nor knowledge of the arcane details of the game is connected to successful betting outcomes.
Indeed, the two most successful gamblers in their study had no prior experience in gambling or knowledge of the sport in question.
“These results indicate that sports gamblers are operating under an illusion of control and power unrelated to real-life outcomes,” Prof. Dannon said.
For their study, the researchers focused on the field of soccer betting. They recruited three groups of participants, including 53 professional sports gamblers, 34 soccer fans who were knowledgeable about the sport but had never gambled, and 78 non-gamblers with no prior knowledge of soccer at all.
All participants were asked to place bets on the final scores of the 16 second-round matches of the UEFA Champion’s League. This model mimics how gamblers actually put their money on the games, where they need to bet on exact scores to win.
Although those who had prior knowledge of soccer were expected to have a higher success rate, the researchers discovered that, in fact, their success rate was no better than those of the other two groups.
Interestingly, the two participants with the most successful record, correctly betting on seven out of the 16 games each, hailed from the group with no prior understanding of the sport.
“This doesn’t indicate that there is an advantage to inexperience,” Prof. Dannon said.
“Many others in the third group were unable to predict any of the results correctly. But the outcome exposes the myth of knowledge as a powerful betting advantage. The sense of control that encourages sports gamblers in their betting is just an illusion.”
At BetBiga, we want to remove this illusion. We want to help both the walking encyclopedia of the EPL and those who have no knowledge of Old Trafford!
We know that lowering punters’ risk requires informed choices – choices bettors and would-be-bettors can rely on. They need to know which bookmakers to use to place their bets. Or better still, which sports betting websites they should go with.
Choosing a sports betting site is a key decision, because it will impact your life in various ways. If you pick the right site, you are more likely to improve your chances of winning. Pick a phony one? Your illusions will quadruple!
Competitiveness of odds is vital when choosing a sports betting site. All punters crave the best possible value when placing bets. Therefore, having an account with a sports website that works to small margins is crucial. In fact, it is the difference between smiling to the bank and frowning at your spouse!
At Betbiga, we offer bonuses, free bets, and concessions to our clients. Because of the unpredictable nature of most EPL games, we have a 0% margin on a selection of some of the best matches. Zero percent margin means that Betbiga receives no commission at all, making the betting odds as competitive as they can get.
At BetBiga, we want beginners to be part of the fun that is betting on EPL games so we have a 100% Welcome Bonus. We will credit your account with a 100% Welcome Bonus up to a maximum of N50,000 after a successful first deposit.
There’s also the 200% Combo Boost Bonus. With every combo bet, you may get more money if you win according to the odds available.
At BetBiga, we have expert writers on the EPL who publish their opinions, free betting tips, and previews of games.
So, if you want to make money from betting on the English Premier League over the long term, you shouldn’t look beyond BetBiga.
Stop operating under an illusion of control and power unrelated to real-life outcomes!