What Does Degenerate Mean In Sports Betting?
by Doc's Sports - 10/2/2014
If someone calls you a degenerate gambler then they are not complimenting you. If you are a degenerate gambler then you need to step away from the betting window. A degenerate is someone who bets for the rush of the action above all else, and who isn’t capable of making good, mathematically sound bets that have a long-term expectation of profit. In simpler terms, they are compulsive gamblers who are destined to go broke.
So, how do you spot a degenerate gambler? Hopefully not by looking in the mirror. Here are a few characteristics of a degenerate to help you in your hunt:
1. Degenerates were often hardcore fans before they were degenerate bettors. Chances are, though, that their fandom has dimmed as their betting intensity has grown. The need for action has outweighed the joy of watching and cheering.
2. Degenerates are basically incapable of estimating the edge they have in a game. If you ask them they will pretty much certainly overstate everything - their handicapping prowess and their chances of winning. If you can’t get a true sense of your edge then you can’t find value and you have no chance of long-term success. Degenerates can’t determine their edge in large part because they are very willing to lie to themselves. They are completely delusional.
3. Degenerates chase big payouts. If a three-team parlay is good then a six-team parlay is even better because of how big the payout would be. The actual chances of success, the true odds, the size of their bankroll and so much else is completely ignored. They think they are going to win, so they only focus on the payout. Sportsbooks love degenerates like this because they can offer truly awful sucker bets and, as long as the potential payoff is large, the degenerates will throw their money at it.
4. Degenerates chase their losses. When they lose a bet most smart bettors know that it is just a part of the game, and they look for a better result next time. Degenerates feel like fate has done them wrong, they are certain that they can’t lose twice in a row, and they increase their bet size to get back to even. The more losses in a row, the more reckless their betting, and the faster their ruin arrives.
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