We think betting is a sport. And this sport requires a good amount of knowledge and understanding. For some people betting is just a recreational activity, but some take it seriously and aim to win every time.
And when we say that one needs to understand and have knowledge of the game, it is also necessary to identify and avoid the pitfalls. These pitfalls trap the betters and make them loose.
The common term for these pitfalls is “Sucker bets”. These bets are designed in a way that the potential return of a gambling wager is meager than the odds of winning.
Casino games and sportsbooks rarely design games or bets that give better odds of winning to the player who is betting.
This is the trick that casinos use to make their profits. The risk-to-reward ratio should be balanced each other perfectly. If the risk is high and the rewards are low that is an example of a sucker bet.
Now that you have got the idea about what a “sucker bet” is, let us see how to avoid these bets while betting.
Avoid These Sucker Bets At Any Cost In Sports Betting
Sportbookers and casinos are very good at hiding these sucker bets and making them difficult to spot. When betting against the spread in games, it is fair because the payout is somewhere around 90%of the wager.
And the point of the spread is set by oddsmakers most of the time to encourage an equal number of bettings on both sides.
If you consider money-line betting, you will observe that there are lots of sucker bets with a clear bias.
For instance, if an underdog team in a college basketball game has a Moneyline of +500 and they are giving you 5 times your wager if that team wins.
That Moneyline does not make sense if that team does not have at least a 20% chance of winning. If the possibility of that underdog team beating a highly favorite team is only 5%, and the bookmaker offers 5 times your wager, it can highly be a sucker bet.
Parlay bet is another common sucker bet in gambling. The reason for this is they are usually very difficult to win.
The one who bets needs to pick on multiple games correctly. And if the player picks the wrong one even once, he/she loses all the money.
Many people find these massive winning prizes attractive. and the Paylay dupe them.
We have to avoid a sucker bet with parlays unless we get fair odds.
Avoid These Sucker Bets At Casinos
In addition to sportsbooks, the casino is another place that tricks people to make sucker bets.
The reason why the house always wins is that they convince people to play games that are either difficult to win. Or the games that have low rewards as compared to the risk involved.
On the contrary, there are some games in casinos like blackjack that involve a certain level of skills. That is the reason many gamblers love to play it. If one plays the game right, he/she can improve the odds of winning.
However, some casinos use a trick and move away from paying 3:2 when a player hits 21 and gets a blackjack. They start to pay 6:5 for the blackjack.
Although this is a subtle change, it adds to the advantage of the casino. And that makes the game get one step closer to being a sucker bet.
There won’t be any signboards that say “Sucker bets available here” on any of the casino or sports betting platforms. So you have to be smart enough to identify them and avoid them as much as possible
In other words, betting is not a perfect science. And there will be instances where the ratio of risk to reward is not in balance.
You must avoid these bets as much as possible as they are not worth your time and money.
In conclusion, you should always keep in mind that these sucker bets exist and look to identify them. Once you learn that, all you need will be a little bit of patience.
Just take your time, do not make decisions based on your emotions, collect as much information as possible and carefully decide if you want to make a wager.
By following this you can avoid sucker bets and you wont end up being a sucker.