Sports betting has become one of the most popular hobbies. With a struggling economy, more people are staying home and watching sports on television than ever before. This has led many into thinking they can make a few extra bucks betting on the games.

Betting can be a great hobby. Many people have become so good at it they do it weekly to supplement their income or completely replace their job. However, many people have lost hundreds of dollars, if not thousands, betting on games. Each person’s story is different but a majority of people are losing bets for the same reasons.

The most common reason is they lack patience. They want to make money quickly and therefore, they bet on too many games. Successful bettors will tell you never to bet on more than 20% of the games during a particular season. This 20% is actually a little high, but if you are betting on more than 20%, you will surely lose in the long run.

Another common mistake is people bet with their heart instead of their brain. It doesn’t matter how much research you do if you are going to bet with bias and subjectivity. That is why people lose so much money betting on their favorite team. They can’t bet against their team, even if they think they are going to lose. They even bet for their team to win in games they think their team will probably lose. You might win a bet here and there with this betting style but you will never be a winner in the long run betting this haphazardly.

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