Sucker Bets in Sports Betting

Example 1: Betting on parlay.

A parlay bet is when the bettor likes a number of teams, and would like to bet on all these teams winning. When that happens, the bettor can win a lot more, but the odds are extremely low. Bookmakers like to see bettors making parlay bets because it just takes one team to lose, and there goes their money. For this reason, many parlay bets are also known as sucker bets.

Example 2: Betting on teasers.

Teasers are in a way, similar to parlay. The bettor can also choose from a combination of teams to bet on. There can be as many as ten teams in the combination, but there must be at least two teams. Most bettors can't even win when they just choose two or three teams. Like parlay bets, all teams must win. If any team loses, the bet is lost. But unlike the parlay, the bettor has the option of moving the spreads.

Teaser bets are known as "teasers" for a reason. They are meant to tease the bettors, and make them believe that they can win big. Unfortunately, most just turn out to the sucker bets.

Example 3: Betting based on free betting advice.

There are a plethora of sportsbook online that offer free betting advice. Sometimes, the tip looks too good to be true, and bettors can't resist the temptation of winning big. So they place bets without looking further into the teams. Don't be too gullible and place bets without looking. Do your own research and try not to bet on teams that you are not familiar with.

Example 4: Betting on hot favorites.

The entire world could be rooting for a hot favorite. That makes the bookmakers happy. Hot favorites mean that the world thinks this team has the greatest chance of winning the game. Never mind if the analysis is flawed or the prediction unrealistic. What matters is that the more people bet on a team, the lower the odds. Sometimes, the odds can be so low that it just isn't worth placing good money on the team. For instance, for every $10 placed on the team, the bettor stands to win $4. That means the bettor has to place a bet of $1,000 in order to win $400.

It's very easy to be influenced by peers and other people around you when there is a hot favorite in town. Try to stand your ground and refuse to make unwise bets. Start with smaller amounts, and stay clear of the sucker bets.