False Advertising-Managing Expectations 07/22/12 (more...)

Shocking news most casual bettors do not make a profit from sports betting. This is not a terrible thing. If every bettor won there would be no sports books left they would be out of business. However as we know the sports book just acts as a broker. The good news and why sports betting is so advantageous you are not competing against the sports books anyway you are competing against other sports bettors. The sports book simply takes the money from the losing bettors passes it on to the winning bettors and keeps their cut.
The biggest difference between the sharp bettor and the recreational bettor is expectations. Sharps expect to win recreational players do not. Recreational players fall prey to ridiculous claims of 60% winning percentage (most claims much more inflated than that) locks of the year, inside information etc etc. These are slick marketing touts who are not skilled handicappers in anyway. Their only goal is to separate you from your money.
A skilled bettor who over long term produces a 55-45 win percentage has a major edge believe it or not. I know it does not sound sexy but at this level you are making substantial profits and return on investment. Sharp bettors are not focused on big scores but realistically grinding it out and letting their 55-45 edge take over long term.