There comes a time when most recreational sports bettors consider paying for sports picks. It seems like an easy way to make money: place the same bets that the professionals make and watch the money roll in. Unfortunately, it’s not that simple.
Price vs. Win Rate
In most cases, paid sports betting picks are not worth it. There are a few reasons why paid picks don’t work out for most people. First, there’s the issue of paying for betting tips. Your advantage in sports betting is never very large no matter how good you are. Every dollar that you pay for professional picks cuts into your long term win rate.
A good win rate for sports betting is around 55% or so. This can vary by a wide margin, but the point is that you really don’t have a lot of room to spend money on betting tips. High quality picks cost more money and make it difficult for you to turn a profit unless you place large bets. Low quality picks are cheaper but have lower win percentages.
The only time high quality, expensive betting picks are worth it is if you have a large bankroll and place large bets regularly. But for the Average Joe with the average bankroll, this isn’t possible. You still need to practice bankroll management, but the cost of the picks prohibits you from turning a profit. For most people, it is best to get good at making your own picks and building a bankroll on your own.
Quality of Tips
Another problem with paying for betting picks is that there are a lot of con artists and no-name people selling picks. It’s tough to figure out who is legit and who isn’t. It’s easy to spend a lot of money on different pick services and even more money on bad bets before you find someone worth your time.
Another thing to look for is misleading stats. The people that market paid sports pick are very good at making themselves look better than they are. As Kevin from TheSportsGeek.com writes, he saw an ad in which a guy selling sports picks boasted about 72.2% winning percentage on sports picks on Fridays. This looks impressive at first, but it makes you wonder if the guy had to pull an obscure statistic for Fridays only to come up with this impressive record. Why not just list his full record?
Also, some sports picks websites are able to claim impressive records because they have entire teams of people making picks. The odds are good that one of these guys will have a lucky season, which the picks website will boast about over the next year. One guy’s lucky streak does not even come close to guaranteeing similar results for you.
I’m not here to bash all people that sell picks. There are some awesome handicappers out there. It’s just that there are also lots of people out there looking to make a quick buck. Proceed with caution, get recommendations from people that you trust and do your research.
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