I have been sports betting since I was 18, I'm 22 now. I have lost about $6200. I admit that a large number of my losses have been due to stupid bets, loss chasing, and too many big bets. This was largely due to the fact that I was an action junkie who used gambling as a way to pass time if I was bored. However, a good amount (about half) is just losing consistently over time even if I make the right bet - hitting around a 50% win rate. I'd be losing at least 4% of my bankroll just because of the vig, and I'll keep losing 4% because of the fact that the lines are set up for you to win around 50% of the time if you make the right plays every time which obv. isn't enough to gain a profit. It seems as if the lines are almost always on point and it generally always goes either way. Some people may say bet on the ML - but assuming that even if you hit your favorite bets at -200 a pop, all you need is to lose that one bet on the expected winner at -350 or whatever it is to come back down to where you were.
So really, if the lines are set for you to win 50% of the time (assuming good discipline and money management) and the ML bets generally get you back to about 50% as well over time. What are we all hoping for? Is the system is set for you to fail, if so then what's the point? Are we all really that dumb to put money up and that desperate for happiness in the form of a win?
I'd like to hear your thoughts on this. Do you have a mathematical system that values teams and players for each game that you utilize to gain a 5-10% ROI? Because it seems to be using logic for bets only to find an edge, and no math, will only gain you about break-even which will make you lose consistently still due to the vig. Obviously this isn't as bad as just being plain stupid like I was when I lost the initial 3 grand, but it still isn't worth the time.
Thanks!!