Sports betting
The high-octane thrill of sports is hard to beat! That’s what makes sports betting so much fun. But playing wisely means understanding that regardless of how much we know, chance will always play a significant role in betting games. In the same way that we can’t predict the outcome of games of chance, we can never predict that of a sports competition because of the many factors at play.
The risks
There are many ways to bet
And being well-informed is essential to understanding all the subtleties and risks involved. Here are the types of bets we can place: Single, Combo, With boosted odds and Same-game combo. Each prediction is related to a set of odds, representing the bet’s potential return and directly related to the odds of winning. For instance, odds of 2.5 mean that a bet’s potential return is 2.5 times the wager. The higher the odds, the fewer chances we have of winning our bet, and vice-versa.
Useful tips
Choosing our odds according to our risk tolerance
Setting a loss limit
Results are unpredictable
So, it’s best not to take the outcome of a sporting event for granted—even if we have all possible statistics in hand! Who could have predicted the Montréal Canadiens’ Cinderella run during the 2021 playoffs? We should never underestimate the role of chance in a sporting event since so many factors can alter the course of a game and affect the outcome: injuries, refereeing, the weather and strategic errors, to name but a few.
Useful tips
Keep a level head
Hitting the breaks on betting
Betting is increasingly accessible
Sports betting has become much more popular and accessible these last few years. There are many ways to bet, and we can wager practically anytime. We can bet quickly, anonymously, continuously, online, at lottery retailers and at self-serve terminals in casinos and gaming halls. The easier access, together with the excitement sports cause, can make us more impulsive when it comes to betting, especially if we don’t set limits for ourselves.
Useful tips
Setting a budget for a game
Alcohol and sports betting: A cocktail that can impact our risk perception
llegal websites don’t hide
Illegal online sports betting is very prominent. And their tactics to incite people to bet are questionable. The Mise‑o‑jeu+ website is the only 100% legal platform in Québec and provides an environment that fosters a structured and positive gambling experience.
Choosing Mise-o-jeu+
How to deal with chance when sports betting
Choosing your risk tolerance
The odds associated with each bet indicate the probability of winning and the possible return. Statistically speaking, the odds with the biggest returns are always the least likely. So, before betting, it’s a good idea to assess our options: Do we bet on events with higher odds that offer a lower return, or on events with lower odds but with a higher return?
Resisting the idea that we’ll eventually win if we keep on playing
Anything can happen in sports! Even experts regularly get their predictions wrong. Each sporting event is unique, and the chances that we’ll win our bet are always influenced by chance.
Betting more may lead to losing more
It’s easy to get carried away by the excitement of a game and want to bet more often with bigger wagers. But betting more may mean losing more. Emotions aren’t always the best advisers! During a highly emotional game, it’s best to take a step back before deciding to bet.
Beliefs
See what’s true or false
Making combos is the best way to win.
False.
Combos, i.e., multiple bets, have higher odds, but the chances of winning decrease with every prediction we add.
The team is “due” for a win!
False.
It’s a false belief that a win is imminent after a series of losses. Each sporting event is unique, and outcomes are independent of each other.
The favourite team wins most of the time.
True!
And yet, even favourites can lose! There are too many factors at play during a sports competition for anyone to be truly able to predict its outcome. It’s best to avoid relying on statistics and sports knowledge alone.
With the correct information, we can place “sure bets”.
False.
Your sports knowledge may very well improve your odds of winning a bet, but it never guarantees a win. Even experts make mistakes! Chance is always part of a game’s outcome.
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