Why Most Bettors Lose Money

Updated: October 7, 2026

It should be no secret that the vast majority of sports bettors are losers. While sports betting can be extremely profitable for those who decide to take it seriously and learn proper +EV betting techniques, for most people it is simply entertainment.

In the realm of Las Vegas, placing a bet on a sporting event while sipping a drink at the sports book is something that millions of tourists do every year. This happens every night at the sportsbooks, but is especially true during the big betting events on the calendar, such as the Super Bowl and March Madness.

Even those who take sports betting more seriously and bet online still fall into some classic pitfalls that ultimately lead them to make EV bets.

Is It Just the Bookie's Advantage?

Every bookmaker applies vigorish, also known as vig or juice, to every bet. For the majority of traditional point spread and total bets, this amounts to a 10 percent edge for the bookmaker. In certain markets and depending on the sports book, the oddsmaker's edge can be even greater. You operate in different time zones around the world.

With this advantage, sportsbooks have the opportunity to make money regardless of the outcome of an event if they have balanced bets on both sides. The Vigorish represents something that all players must overcome in order to be successful.

Overcoming Vig alone is a daunting task, but many sports bettors make it even more difficult with their betting practices. Instead of using a market-based method and keeping emotion out of their handicapping, they bet on impulse and sentiment. This affects their decision making.

Home Team Loyalty

The most obvious situation where bettors are thinking with their hearts and not their heads is when it comes to betting on their hometown teams.

This attitude is extremely common among bettors and is one that defies logic. It is certainly understandable to have an attachment to a particular sports team(s).

Sports betting isn't about loyalties or -€œfan-hood.-€ It's about making money.

Betting against your favorite team because you see value in the odds market does not disqualify you from being a loyal fan. And even if it did, you would be a fool to walk away from a profitable bet just because you have an emotional attachment to a particular team.

The worst part about this weakness for many bettors is that they are often the most knowledgeable about their local teams. Because they watch these teams regularly, they know where they struggle and when they might be vulnerable to a particular opponent.

Bettors have an advantage when it comes to betting on their favorite teams, and they should take advantage of it, whether they are betting for or against. Some bettors know their hometown teams as well as the local beat writers. They would be foolish not to take full advantage of this.

Think how much knowledge you would have if you knew as much about your favorite team as you do about others across the country. It would help you tremendously when it comes to handicapping.

Chasing Losses

Even successful handicappers who know how to spot value occasionally get caught up in chasing their losses. For recreational bettors, chasing losses is extremely common.

There are so many problems with chasing your losses that it is hard to know where to start. Here we will cover a few different scenarios to look out for:

• Betting on games just to break even for the day or week is a ridiculous premise. If you see no value in the market, move on
• it does not matter if you lost money that day. You do not have to end the day breaking even or in the black. In the long run, if you look for value when handicapping and shop the line accordingly, the profits will come.
• Panicking and placing multiple units on long-shot bets or betting -EV large parlay bets is only going to get you deeper in the hole. If you do win, it will still be a negative expectation in the long run and one that will do significant damage to your bankroll;

The worst part about chasing losses is that most sports bettors - especially experienced ones - know better. It is a case of -not practicing what they preach,- which makes it even more frustrating.

If you cannot stop yourself from chasing losses after a rough day, it may be best to take a break from sports betting until you can control your emotions and your bankroll.

As mentioned earlier, bettors cannot afford to give the sportsbooks an extra edge. The 10 percent vig is already a terrible enough obstacle to overcome. Falling into other traps like betting with your emotions or chasing your losses is a surefire way to lose.Winning sports bettors do not bet on emotion or sentimental feelings towards their favorite teams. They look for value in the lines, manage their bankrolls properly, and hone their skills as handicappers.