A Bad Bet vs. A Lost Bet
In sports betting, most bettors view a bet being good if it wins and bad if it loses. However, this couldn't be further from the truth. At most, a sports bettor has a 60% pregame edge on any given wager. That means that 40% of the time, the bet will still be a loser. The best a bettor can do is to take into consideration all the data, variables, and situational edges in hopes to get the best number and beat the closing line. Having closing line value does not necessarily mean you will win a given wager, but it usually means you will win over the course of time because you are the sharp side.
Whether a bet wins or loses, it is important to analyze all sides of the play, see which angles you had right, which you had wrong, and, most importantly, what knowledge can you gain moving forward.
Remember: a lost bet is not necessarily a bad bet.
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