It’s no real secret that the vast majority of sports gamblers lose money on their bets in the long run. Otherwise, the sportsbooks and casinos wouldn’t rake in hundreds of millions of dollars every year.
As it turns out, sports betting reporter Darren Rovell of The Action Network loses just like everyone else – though it’s probably safe to say his losses are quite a bit larger than the average bettor.
On Saturday night, Rovell casually revealed in a tweet that he’s lost more than $17,000 betting on college basketball with an overall record of 139-203-2, winning just 41 percent of his wagers that he tracked on the app.
Thankful for the @ActionNetworkHQ app that holds me accountable.
Got me to stop betting NBA. College basketball is next!
Subscribe to the app so that you don’t forget about your losses. Know what you are good at and how to improve. pic.twitter.com/SJJeKmP6EP
— Darren Rovell (@darrenrovell) March 12, 2023
“Thankful for the @ActionNetworkHQ app that holds me accountable. Got me to stop betting NBA. College basketball is next! Subscribe to the app so that you don’t forget about your losses. Know what you are good at and how to improve,” Rovell said in a tweet.
To be fair, Rovell can probably afford the losses. Just over a year ago, Rovell signed a new contract with The Action Network that is worth just over $2 million, according to The New York Post.
But regardless of his income or net worth, hemorrhaging money on sports gambling is rarely a great financial plan. So, he’s probably right to walk away from betting on basketball – and maybe every other sport, too.
About Kevin Harrish