5 Sports Betting Myths Costing You Money | Bet Smarter & Win More with 20Bet Tips

You grab your phone, scroll through the odds, and place a stake on a “sure thing.” But, a couple of hours later, the slip’s in the trash, and you’re wondering how it all went wrong. Sound familiar?

You’re not alone. I’ve been there. We all have. Whether you’re backing Real Madrid at the Bernabéu or putting faith in a mid-table Premier League side on a cold, rainy night, the truth often lies beneath the surface. Most bettors believe in myths that are simply not true.

Myth #1: You Can’t Lose If You Bet on the Favorite

I’ve seen this play out hundreds of times. Backing Manchester City at home? PSG against a bottom-half Ligue 1 side? Feels like an amazing option, right?

But you’re only one of a million who think the same way. When everyone bets on the favorite, the value disappears, and suddenly, you’re risking a huge bankroll for tiny returns.

Blindly backing the top team isn’t a betting technique. It’s just lazy thinking. Because in soccer, even the giants lose – and when they do, it costs you.

Myth #2: “Parlays Are the Best Way to Win Big”

You search for clubs and build a 7-leg parlay with a huge payout, thinking that this is the one that will bring immense profits. But let’s be real: parlays are where bookies trick you.

The odds stack up, but so does the risk. One penalty, one VAR call, one misfire from your striker, and the whole thing collapses. Chasing big wins with combos is one of the most common myths about betting.

Myth #3: “Trust High Odds”

“Hey, they’re 15.00 to win. You should go for this pick.”

I’ve heard that line more times than I’ve seen Barcelona pass it around the back. High odds are tempting, but here’s the thing: odds are high for a reason.

It usually means that the team is outclassed, missing key players, or playing away in a stadium where they rarely get a result. Betting just because the odds are high isn’t reasonable.

Myth #4: “Home Teams Always Have the Edge”

There was indeed a time when playing at home meant everything. In the 2000s, for example, I was astonished by how home fields changed the game for hosts – fans roaring, familiar turf, and travel fatigue for the away side. But soccer has evolved. The gap between home and away performance is gradually shrinking.

Modern players are simply built different. They fly first-class, train on perfect pitches, and track every inch of their speed and movement with advanced tech. So, while home support still matters, don’t just assume that hosts have the edge.

Myth #5: “Big Bets = Big Respect from the Bookie”

There’s this wild idea floating around that dropping massive bets earns you some kind of VIP treatment. Reality check: most betting sites don’t care how much you stake – they care how often you win. In fact, consistent winners, even with small bets, are more likely to get limited than the high-rollers who keep losing.

Bonus: How to Spot Betting Myths in the Wild?

If you want to stay ahead of the game, ignore the pub talk, the social media hype, and TikTok’s promises of “guaranteed wins.”

The trick? Learn to separate betting myths from reality. Here’s how:

Ask yourself why a tip sounds too good to be true.
Don’t trust systems that ignore form, injuries, or tactics.
Follow stats, not just vibes.
Trust your own experience.

Actionable Takeaways

Ready to stop falling for the same old traps? Here’s how to turn your betting activities into something more profitable:

Parlays are fun, but don’t build your strategy around them.
Favorites aren’t always worth the price.
Home advantage, big odds, or “sure things” can be misleading.
Start using a simple spreadsheet or an app.

Final Thoughts

Soccer betting should be fun, not frustrating. The moment you start questioning what you’ve always been told, everything changes. There’s potential in every weekend fixture.

Most bettors lose because they’re stuck in outdated thinking. By separating online gambling myths and facts, you put yourself in a better position than 90% of casual bettors.

The game’s always changing. Make sure your mindset is too.

Responsible Gambling

Gambling can become a problem when it goes beyond fun and starts to affect your finances, mood, or relationships. If you or someone you know isn’t in control, help is out there, and there’s no shame in asking for it.

20Bet is committed to ensuring that betting remains safe and enjoyable. The platform offers a full suite of responsible gambling tools, including:

Deposit and loss limits;
Self-exclusion and cooling-off options;
Links to professional support services for gambling addiction.

FAQs

What are the most common sports betting myths?
Some of the biggest myths are: parlays are the best way to win, high odds mean high value, and home teams always have the advantage. These ideas sound convincing, but often fail in practice.
Are parlays a good way to win?
They’re risky. Parlays rely on multiple results going your way. While they add dynamism with big potential payouts, they’re not the most reliable way to win consistently.
Does home advantage really matter?
Yes, but not as much as it used to. While home crowds can still have an impact, modern soccer has leveled the playing field. Players are more prepared, and many top teams perform just as well on the road.
Is chasing losses a smart betting strategy?
Never! Chasing losses leads to poor decisions. A few losing betslips are normal. You’ll find that even the sharpest bettors have off days. The key is to stay calm and not let disappointment dictate your next move.
Why do most bettors lose long-term?
They rely on emotion and myths instead of a clear strategy. Winning in the long run requires discipline, setting limits wisely, and focusing on value, not just favorites or big odds.