From tech to fashion and video games, the majority of men like to keep up with what is happening. Another big area of interest for many is sports. From football to basketball, hockey, baseball and beyond, sports have always been something that guys love to get involved with in their spare time. Of course, many now also like to bet on them if it’s legal to do so where they live, and Fox Bet sports betting is one online sportsbook you can use.
Sports betting is a big business now and is expected to make over $150bn in global revenue by 2024, according to some experts. If you are one of the many men around the planet who love to make some extra cash on the side through sports betting, then this will not be a surprise! 26 million Americans bet on Super Bowl 2020, for example, and this is yet another illustration of how healthy sports betting is as an industry. Many will try to beat the bookies by putting money down on their own team to win – but is this always a good idea?
Why might betting on your own team work out?
There is certainly something to be said for backing your own team. The biggest reason is that you have in-depth knowledge around the team that you have picked up from years of loyal support. This is very important and gives you an extra edge to win money. You may, for example, know that your team has a particularly good record over another team – or a particularly poor record against another!
Of course, you will also know about the form of your own players and any injuries or suspensions from following the latest news about your club each week. This is also important when betting on sports as it can affect the result of upcoming games. If you know that your star defender and goalkeeper are out injured for a few weeks, then you might hold off risking any money until they come back!
What other reasons are there to bet on your own side?
There are also some pretty good additional reasons to think about backing your own team. You will know of any bogey teams that your club have, for example. This seems to happen in all sports, and the side you follow will likely have at least one opponent who they never seem to beat. Armed with this insider knowledge, you can carefully avoid losing money on this sort of bet.
You will also know how important the game you are looking at betting on is to your team. If you know that it is well down the pecking order and a weakened side will be fielded, then you can make the right betting decision based on this. Similarly, if you know that a win in the game is essential for championship hopes, then you could reasonably expect them to perform well.
Perhaps the last major reason to think about when betting on your own team is the feel-good factor. Backing your own side to win can make sports much more exciting to get involved with, and profiting from them doing well feels great.
What are the drawbacks though?
As with everything in life, it is not all champagne and skittles when betting on your side. There are a couple of negatives to factor in here. You remember the feel-good factor we talked about above? If you bet on your team and they lose, it will only add to the disappointment. While you may be prepared for this in the odd game, any longer losing runs could affect how much you enjoy watching them.
The other danger lies in being too emotionally attached to the team to bet sensibly. There is no doubt that you will have a natural bias towards your team, and this could see you place bets that are not rational. Over time, this could really eat into your profits when compared to betting more sensibly on another side.
Betting on your own team can work out
Overall, betting on your own side in sports can be a good idea. With the expert knowledge you have to make decisions on and the extra fun it can bring to the table, there is every reason to give it a go. As long as you keep losing bets in perspective and avoid making bets based on emotion, you will be fine.