Sucker bets are bets that only a “sucker” would place. These mistakes are usually made by those who aren’t serious gamblers, particularly those recreational ones that are mostly just betting to try to win something. It’s a common misstep that almost every bettor has experienced.
If you don’t have enough knowledge about odds and wagers, then you’re most likely to fall victim to a sucker bet. You probably have very little idea about what value in betting is, which is why you’ve failed to identify these kinds of bets. You’ll end up losing significantly more because of these if you don’t learn how to determine them.
Now that you’re aware that you’ve been played for a fool, you have to prevent it from ever happening again. Learning this doesn’t mean that you have to quit recreational betting, but to be more discerning when placing wagers. This article outlines what you need to know about sucker bets and how to avoid them.
Explaining sucker bets and betting for value
A sucker bet is a wager in which the expected return doesn’t reflect the odds of winning. It’s present in both brick and mortar casinos, and when you bet online, but can also be avoided, you just have to determine if there’s value in the odds that are in front of you.
Value refers to a wager’s profitability in the long run, relative to the amount put at stake. This means that a wager that seems more of a longshot can be a good bet with the right odds. On the contrary, a wager that has a high chance of winning can be a sucker’s bet if the odds are too short.
To determine a wager with a positive value, let’s use an example. For instance, you were offered odds where you won $100 for a $10 stake. That has a positive value because you can win more money in the long run. If it was the other way around where you won the latter amount for the former, then you’ve been duped.
Common Sucker Bets
- Sucker Bet Parlays
A sucker bet in parlays means that the payouts for winning parlay wagers are less impressive than it could’ve been. For example, a sportsbook use point spreads and totals priced -110 in 6-team parlays. That can be as high as +4,500, and even at the highest odds, the amount you can win won’t multiply.
Parlays rarely offer any kind of value anyway, which is why many don’t advise to wager on them. Should you choose to do so, you must find a parlay with odds that have actual value. This entails shopping around for the best odds, which is easier to do online.
- Wagers placed without shopping around
Since we’re on the topic of shopping odds, bettors that get suckered into betting on negatively valued wagers are because they didn’t look around first. Simple enough to do and yet somewhat overlooked most of the time. Choosing the lesser options is for suckers when there’s another way to bet at the same thing with better odds.
- Sucker bet pleasers
In general, pleaser bets are sucker bets regardless of which team or athlete you choose. A classic example of this is covering point spreads. For instance, if two underdogs have a +3.5 odds, it can be “pleased” when you take two-point spreads and changing the odds to -2.5. Parlaying two +3.5 moneylines, actually has a better payout than the pleaser -2.5.
Avoiding sucker bets
As per the common sucker bets indicated, the best way to avoid sucker bets is to never wager parlays or pleasers. Avoid them all the time, because you can’t fully enjoy winning if you see others winning more when they bet the same wagers as you did. If you want to remain a recreational bettor, then do so while steering away from sucker bets.
Conclusion
Stay away from sucker bets and always find value before betting. That’s the least you can do to be a satisfied gambler.
Author’s Bio:
Luther Abrams is an online game and sports enthusiast who spent his younger years playing and watching basketball, baseball, soccer, tennis, and badminton games, among the many others. Today, as an early retiree, he continues to write about his love and passion for sports. On most days, he also loves to play ball with his two kids.
