source
Lets start by understanding the concept of sports betting. Sports betting involves placing bets, on the outcome of sports, like soccer, basketball, hockey, volleyball and more.

Throughout time there has been a growing concern, about the rising frequency of individuals losing money to gambling. This has resulted in hardships for some with outcomes such as bankruptcy or even suicide often stemming from using borrowed funds or funds intended for essential purposes, for betting and facing losses. Today i will be talking about the possible reasons why people lose to betting and how to curtail it to avoid further damage.

Reasons why people lose alot in sport betting are as follows:

Greed

Greed is the emotion of not being content (constantly desiring more). Carrying Greed into sport betting is dangerous because the outcome doesn't only affect you mentally it also makes you depressed and if one is not careful one might commit suicide.

Greed comes into play when you desire more and stake more. You staked a sport with maybe $5 dollars being that you don't have staking power due to you not being financially stable and you won let's say $50. Greed will want you to invest more into it to make more profits, forgetting that sport betting is a 50/50 chance, you lose or make profit no 100% chance is guaranteed.

source

Know when to stop

It's crucial to know when to call it quits in betting. For instance if you place a $5 bet, on a sports game and win you'd make a $50 return resulting in a $45 profit. At this moment you should stop and use the money to solve your needs cause you might reinvest and lost all. Dont get addicted to sport betting it's dangerous know when to bet and when not to bet.

Dont bet because of the urgency of your problem.

Placing bets, as a fix for issues such, as rent or school fees can actually add more stress. This added pressure might push you to reinvest in hopes of recouping your losses. It could end up causing you to lose everything in the end.

source

Bet with what you can afford to lose.

Avoid placing bets with funds, like your rent or school fees to prevent regrets. Stick to wagering with money that you're comfortable losing, such as your cash.

In conclusion, sport betting is never 100% guaranteed that you must win, so be cautious while betting to avoid losing to the state of being depressed or going bankrupt.