However, whether it is through luck or judgment, there are occasions when they hit the jackpot, so to speak.
At the time, the nation had only featured at two major tournaments, being eliminated in the group stage of each, but they defied pre-tournament odds of 150/1 to start and end the competition with victories over well-fancied hosts Portugal.
When taking a look at the biggest win ever involving football bets, it was placed in bizarre circumstances, opportune if you will.
While that represented the biggest return, we would argue with justification that the next two bets are more impressive.
The latest of those came in 2011 when someone from Malta tried their luck with a 19-fold bet, creating odds of 683,738/1.
There was a time when 18 bets were coming in and Liverpool were only drawing with Chelsea at Stamford Bridge.
The writing appeared on the wall, the punter facing substantial disappointment at going so close yet coming so far, but Glen Johnson would pop up with an 87th-minute winner, turning an 80p bet into £585,000.
That makes some of the football bets mentioned above appear to be small change, but it shows the possibilities that low stakes at big odds can bring.
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