We can argue sports betting is about knowledge a person has about sports but at the end of the day, a person who merely goes with favorite, will also get his picks often right. So is sports betting actually about knowledge?
Edit: So many people are misunderstanding the word, 'favorite' here. What I meant here is oddmaker's favorite. Suppose, a competition is held between two teams 'A' and 'B' with odds 1.2 for former and 2.0 for latter, then former is favorite, and bettor can bet on this favorite without having iota of knowledge about sports itself and still likely win the bet.
I understand the payout will be less, but here we are saying, getting the pick right without having knowledge about sports whatsoever.
Hope I have made myself clear enough.
With my little knowledge of sports betting, I have always thought that you need knowledge to have a higher chance; not just knowledge about the sports, but general knowledge about how sports betting works, including the algorithms. Some sports bettors have been applying this and have been successful in most cases.
If, on the other hand, people claim they bet mostly on favourites and have been consistently winning their bets or winning more than they lose, then it is still good. I am not going to doubt those who claim they win more by betting on their favourites; I have just come to the conclusion that it is all about luck, and that's all that matters.