[Infographics] Does Football Betting Pay Off? - page 2.

Silberman

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Quote from: Wexnident on August 26, 2022, 12:24:41 AM

Quote from: davis196 on August 14, 2022, 02:37:47 AM

I don't know if anyone above me has already mentioned this.
What about a guy, who made 100 losing bets of small amounts of money and only one extremely lucky bet that won 10x or more? Assuming that he made more money with that bet than the money he lost. Does this make him a successful gambler or a loser? Maybe he sees himself as a winner, while in reality he's a loser, who happened to be extremely lucky for once.
I also think that many sports bettors are exaggerating their success so this survey can't be accurate.
Why aren't other European countries included? Football betting is very popular in my country. The TV shows are full with football betting ads. Grin

I think the general result from the infographic is not winning in matches but rather winning/profiting off of it in general. Though I do think this infographic either showed what you actually indicated ( only losing more than winning in their entire gambling experience) or the people who actually won can actually be described as "barely" profiting off of their overall bets. Overall I wouldn't really consider this to be actually true or accurate, a lot of information on the internet is put over the top after all to attract views and attention.

And this shows once again that unless a study is conducted under the correct methodology then the results are completely useless, our memories are not perfect and if to this we add that we have no incentive to remember the times that we lost as they are too painful to remember then we can easily see why so many people think they are profitable when that is not the case, this reminds of a study I read once in which the majority of the students thought themselves to be above average when it came to the work and time they dedicated to their studies, something that is mathematically impossible and yet that is what they thought.

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Quote from: Bhig Daddy on August 27, 2022, 09:38:02 AM

Gambling has it fun but again it also have it bad side, because when you losing you tend to forget about how much you losing all you can think of is how to regain your money and even win some profit. It fun when you winning and things will just keep going in your favor. No matter the situation just gamble responsibly.

It depends on how you use gambling because if you can manage yourself when you gamble. Many people lose control when they play gambling, which causes them to get on the bad side of gambling. If you can avoid it, you will be fine playing gambling and instead, you can enjoy gambling as a means to release stress and as a fun pastime. But if you think about getting money from gambling, it will only make you try to chase wins and what will happen the other way around you will get a loss when playing gambling.

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Gambling has it fun but again it also have it bad side, because when you losing you tend to forget about how much you losing all you can think of is how to regain your money and even win some profit. It fun when you winning and things will just keep going in your favor. No matter the situation just gamble responsibly.

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Quote from: Silberman on August 25, 2022, 11:55:03 PM

I'm pretty sure that a great deal of the people that said they are actually earning money are losing it instead, people have a very strong tendency to remember the times they won and to forget the times they had lost, it is why it is kind of a waste of time to read studies in which people self-report because there is a very strong bias to remember only the good outcomes they had,

Well, it is a fact.

We just don't want to remember how much we're losing unless it's on our books and we do have a record of it. But as the majority, they will say that it's not recorded but we remember figures.

Both of it, win and lose.

Quote from: Silberman on August 25, 2022, 11:55:03 PM

after all if there were that many people earning money out of casinos I doubt they could remain in business for long.

I agree, they're a business that will be gone for long if majority have been winning.

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This is curious, I would have assumed that people from Germany placed more bets considering they have quite very good football teams.
It is also worth noticing the fact they have quite a relatively low position on the percentage of people who place bets but a high percetange of those who actually report earning money from those sport bets.

It would be cool to see a similar study buy including countries from Latin American, in special Argentina, Brasil, Chile, etc.

fullhdpixel

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Quote from: Lanatsa on August 25, 2022, 05:57:44 PM

Quote from: nullama on August 14, 2022, 07:57:41 PM

In that case, if the gambler ended up with more money than what he initially started, then that's a successful gambler. It's just math.

Now, in the head of that person, it will probably feel like he lost, because our brains perceive losing more intensely than winning. So, let's say he won and lost, and eventually ended up with the same amount of money he entered, he would feel the losses more than the winnings, so it will be a negative feeling in the end.

This is called loss aversion: https://en.wikipedia.org/wiki/Loss_aversion

This is true and this is what i do felt out even my capital was just break even or even on profit on very small amount but still you could really feel out that you are really still in loss which it cant really be avoided

for you not to feel those emotions or reactions but if you are someone who do really get used to with these kind of scenario.Back to topic about Football betting pay off?
Totally depending because not all would really be in similar when it comes on putting up their choices and the analysis that they had put up into.

I don't know bout you guys but for me a small profit is still a profit and I already considered myself as successful with it. When there is a success there is also a failure and for me a failure is when you lost a portion of your balance or went home empty. Sometimes it is better to take home small profits than wanting for more because shit can happen and you will not only lose what you already gained but you can lose all even your starting balance.

I agree what you said there about football betting. Not all are into sports and even if they are into sports, they may still not be good at analyzing a team so football betting is not worthy for them.

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Quote from: davis196 on August 14, 2022, 02:37:47 AM

I don't know if anyone above me has already mentioned this.
What about a guy, who made 100 losing bets of small amounts of money and only one extremely lucky bet that won 10x or more? Assuming that he made more money with that bet than the money he lost. Does this make him a successful gambler or a loser? Maybe he sees himself as a winner, while in reality he's a loser, who happened to be extremely lucky for once.
I also think that many sports bettors are exaggerating their success so this survey can't be accurate.
Why aren't other European countries included? Football betting is very popular in my country. The TV shows are full with football betting ads. Grin

I think the general result from the infographic is not winning in matches but rather winning/profiting off of it in general. Though I do think this infographic either showed what you actually indicated ( only losing more than winning in their entire gambling experience) or the people who actually won can actually be described as "barely" profiting off of their overall bets. Overall I wouldn't really consider this to be actually true or accurate, a lot of information on the internet is put over the top after all to attract views and attention.

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Quote from: bitbollo on August 25, 2022, 06:11:11 PM

the real question it should be... how much they win? These percentage of people betting what are achieving?
Some times ago I have found some data that shows that a good gambler can earn 8% from the total wagering of one year.
I am pretty curious to see the real data about these wins ... Roll Eyes

I'm pretty sure that a great deal of the people that said they are actually earning money are losing it instead, people have a very strong tendency to remember the times they won and to forget the times they had lost, it is why it is kind of a waste of time to read studies in which people self-report because there is a very strong bias to remember only the good outcomes they had, after all if there were that many people earning money out of casinos I doubt they could remain in business for long.

bitbollo

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the real question it should be... how much they win? These percentage of people betting what are achieving?
Some times ago I have found some data that shows that a good gambler can earn 8% from the total wagering of one year.
I am pretty curious to see the real data about these wins ... Roll Eyes

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Quote from: nullama on August 14, 2022, 07:57:41 PM

Quote from: davis196 on August 14, 2022, 02:37:47 AM

I don't know if anyone above me has already mentioned this.
What about a guy, who made 100 losing bets of small amounts of money and only one extremely lucky bet that won 10x or more? Assuming that he made more money with that bet than the money he lost. Does this make him a successful gambler or a loser? Maybe he sees himself as a winner, while in reality he's a loser, who happened to be extremely lucky for once.
I also think that many sports bettors are exaggerating their success so this survey can't be accurate.
Why aren't other European countries included? Football betting is very popular in my country. The TV shows are full with football betting ads. Grin

In that case, if the gambler ended up with more money than what he initially started, then that's a successful gambler. It's just math.

Now, in the head of that person, it will probably feel like he lost, because our brains perceive losing more intensely than winning. So, let's say he won and lost, and eventually ended up with the same amount of money he entered, he would feel the losses more than the winnings, so it will be a negative feeling in the end.

This is called loss aversion: https://en.wikipedia.org/wiki/Loss_aversion

This is true and this is what i do felt out even my capital was just break even or even on profit on very small amount but still you could really feel out that you are really still in loss which it cant really be avoided

for you not to feel those emotions or reactions but if you are someone who do really get used to with these kind of scenario.Back to topic about Football betting pay off?
Totally depending because not all would really be in similar when it comes on putting up their choices and the analysis that they had put up into.

nullama

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Quote from: davis196 on August 14, 2022, 02:37:47 AM

I don't know if anyone above me has already mentioned this.
What about a guy, who made 100 losing bets of small amounts of money and only one extremely lucky bet that won 10x or more? Assuming that he made more money with that bet than the money he lost. Does this make him a successful gambler or a loser? Maybe he sees himself as a winner, while in reality he's a loser, who happened to be extremely lucky for once.
I also think that many sports bettors are exaggerating their success so this survey can't be accurate.
Why aren't other European countries included? Football betting is very popular in my country. The TV shows are full with football betting ads. Grin

In that case, if the gambler ended up with more money than what he initially started, then that's a successful gambler. It's just math.

Now, in the head of that person, it will probably feel like he lost, because our brains perceive losing more intensely than winning. So, let's say he won and lost, and eventually ended up with the same amount of money he entered, he would feel the losses more than the winnings, so it will be a negative feeling in the end.

This is called loss aversion: https://en.wikipedia.org/wiki/Loss_aversion

davis196

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I don't know if anyone above me has already mentioned this.
What about a guy, who made 100 losing bets of small amounts of money and only one extremely lucky bet that won 10x or more? Assuming that he made more money with that bet than the money he lost. Does this make him a successful gambler or a loser? Maybe he sees himself as a winner, while in reality he's a loser, who happened to be extremely lucky for once.
I also think that many sports bettors are exaggerating their success so this survey can't be accurate.
Why aren't other European countries included? Football betting is very popular in my country. The TV shows are full with football betting ads. Grin

ralle14

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Quote from: AmoreJaz on August 13, 2022, 06:42:39 PM

but we can appreciate the fact that they have done such survey.

But it's not good when the numbers they're showing could potentially mislead other people from trying out sports betting and make them think they could easily do the same but in reality, the actual percentage is much lower.

Also it'd be interesting to see the other numbers like the total amount of bets that each gambler has placed throughout the season since it's possible for the percentages to be accurate if most of them don't place a lot of bets.

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Quote from: LUCKMCFLY on August 13, 2022, 06:24:30 PM

Quote from: Kakmakr on July 30, 2022, 08:12:58 AM

There are too many factors influencing an accurate outcome to that survey ...

1. People can lie about their success.
2. The amount of people that participated per country.
3. The knowledge levels of the people that participated. (Professionals or Rookies)
4. Population of the country.
5. Citizenship. (UK are a mix breed of people)

So you cannot simply take this as an accurate reflection of the facts per country. You have to gather more information of the people's background before you draw up the statistics. Roll Eyes

Eventually the things you say here are true, many people can lie, sometimes that can damage the results and you can't have totally truthful information, although I think one thing, and as my personal opinion there is one thing that influences many of us , we can have a lot of knowledge, but if there is a team associated to our liking, even if the team is at its worst, the person will always bet in favor of that team, just because the fundamental part is much stronger and weighs more on the team. when making a decision that the same reason for reality, and only this, what we commonly call "emotions" is sometimes far above our own perspectives and can damage a decision.

don't take the infographics seriously. it can only be one of the sources of information. in my opinion, you can't treat it as one of the absolute truths about football betting. there are so many factors influencing the data, and you have no idea how they came up with this graphical representation. at the end of the day, every infographics has their own flaws. but we can appreciate the fact that they have done such survey.

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Quote from: Kakmakr on July 30, 2022, 08:12:58 AM

There are too many factors influencing an accurate outcome to that survey ...

1. People can lie about their success.
2. The amount of people that participated per country.
3. The knowledge levels of the people that participated. (Professionals or Rookies)
4. Population of the country.
5. Citizenship. (UK are a mix breed of people)

So you cannot simply take this as an accurate reflection of the facts per country. You have to gather more information of the people's background before you draw up the statistics. Roll Eyes

Eventually the things you say here are true, many people can lie, sometimes that can damage the results and you can't have totally truthful information, although I think one thing, and as my personal opinion there is one thing that influences many of us , we can have a lot of knowledge, but if there is a team associated to our liking, even if the team is at its worst, the person will always bet in favor of that team, just because the fundamental part is much stronger and weighs more on the team. when making a decision that the same reason for reality, and only this, what we commonly call "emotions" is sometimes far above our own perspectives and can damage a decision.

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Quote from: KTChampions on August 05, 2022, 01:18:41 PM

Quote from: darkangel11 on August 03, 2022, 02:40:34 PM

That's what I'd expect, although if asked I'd say that it should be closer to 40%. The problem with people's opinions is that they're always biased and they see failures as more significant than achievements. So if you have an average player who wins exactly 50% of his games, he'll feel like he's not making enough money. He'll respond to the survey by saying he's only winning 40% of the games because the impact of a loss is much higher than a win even if he has both in one day.

This is quite logical, because if a better wins a bet with odds of 1.5 and loses one bet, then in the end he has -25% of his initial money in the end. In addition, if you try to calculate the percentage of betters who are in the black (for the entire history), then this percentage should tend to zero, the problem is that the survey will never show such data.

It is because of this the survey is not very useful, not only the memory of people is not perfect but their perceptions can change, so if they won recently they may think they are long term winners when in fact that is not the case and affect the results of the survey, also even if we could find gamblers with detailed records about their bets and they were the only ones included in the survey this will skew the results towards the professional players, as only them will have such records as most recreational gamblers will not bother with such a thing.

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Quote from: darkangel11 on August 03, 2022, 02:40:34 PM

That's what I'd expect, although if asked I'd say that it should be closer to 40%. The problem with people's opinions is that they're always biased and they see failures as more significant than achievements. So if you have an average player who wins exactly 50% of his games, he'll feel like he's not making enough money. He'll respond to the survey by saying he's only winning 40% of the games because the impact of a loss is much higher than a win even if he has both in one day.

This is quite logical, because if a better wins a bet with odds of 1.5 and loses one bet, then in the end he has -25% of his initial money in the end. In addition, if you try to calculate the percentage of betters who are in the black (for the entire history), then this percentage should tend to zero, the problem is that the survey will never show such data.

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That's what I'd expect, although if asked I'd say that it should be closer to 40%. The problem with people's opinions is that they're always biased and they see failures as more significant than achievements. So if you have an average player who wins exactly 50% of his games, he'll feel like he's not making enough money. He'll respond to the survey by saying he's only winning 40% of the games because the impact of a loss is much higher than a win even if he has both in one day.

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Quote from: Kakmakr on July 30, 2022, 08:12:58 AM

There are too many factors influencing an accurate outcome to that survey ...

1. People can lie about their success.
2. The amount of people that participated per country.
3. The knowledge levels of the people that participated. (Professionals or Rookies)
4. Population of the country.
5. Citizenship. (UK are a mix breed of people)

So you cannot simply take this as an accurate reflection of the facts per country. You have to gather more information of the people's background before you draw up the statistics. Roll Eyes

Fair remarks, but if the statistical sample is large (judging by the * it is huge), then the results are close to relevant, since distortions in different directions compensate each other on average, and if we take the lie factor, then it is presumably the same for different countries. Therefore, the difference between countries is most likely identified accurately. As we can see, the Germans are the most conservative, and the Italians are reckless - an exact match to the stereotypes (which also have a basis).

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Quote from: Wapfika on July 27, 2022, 11:37:15 AM

This chart shows the share of football fans in selected countries that place bets on matches, and how many of them say they make money from it in 2021.

*Respondents who say that they win money overall in the course of an average season.
n=13,300 adults (16+) interested in football. Conducted in May 2021

Source:https://www.statista.com/chart/26706/share-placing-bets-on-football-matches/

It is difficult to judge how true these figures are, but if true, then we can assume that Italian football fans are the most honest Grin

By the way, last season was really very random in Serie A, and it turns out that this poll has a clear correlation with what happened in the championship.
As for the overall share of fans who place bets, I'm surprised - I thought it was much less, no more than 5%.

Topic: [Infographics] Does Football Betting Pay Off? - page 2. (Read 455 times)