We talked about what you should do to up your chances of winning, but along with that there also are some common sports betting mistakes you need to steer clear of. In the sections of this guide, you’ll see how many people think that with a few tips and tricks they can get things going, but the truth is that there also are things you should not do and this is equally important as to what you should do.
Everybody makes mistakes. Skilled punters too. Your goal is to make as few mistakes as possible because as you know, in the world of sports betting every mistake costs dearly. While you are still learning, it is possible to err more frequently, and our mission here is to help you handle that in the best possible way. This is why we have provided the most common betting mistakes to avoid at all costs. Keep reading to find out about them.
Wagering on Sports You are not Familiar With
The first thing to avoid is making wagers on sports you barely know about. Sure you do not necessarily have to be a sports guru to place bets, but if you are going to risk your money, it goes without saying that you should have some knowledge about it.
- How is it played?
- What are the basic rules?
- Does it involve balls or other items?
- How many players are involved?
- Is it a sport that involves team play or are individual participants allowed?
Unless you know these things, and a few more which we have not mentioned here, then you ought to not bet on said sport. It is just too risky. You need to make wagers for the right reasons. Trust us, this is not a good reason.
Letting Your Heart be the Compass
Mistake #2 has to do with making decisions from the heart rather than from your mind. This is one of the common betting mistakes made by people who only make wagers in their spare time and just for fun. Everyone has a favourite team or player. They want them to win no matter what. But wagering on who you want to win rather than who has better chances of winning is a big no-no that could cost you a lot of money. Regardless of your preferences, you should always choose a team or player based on their chances of winning. You have to do what you think is the right thing, not what you want it to be.
Placing One Too Many Bets
Sometimes you just cannot help but place bet after bet. There are so many sports and events to make wagers on. Adding the fact that there are a plethora of sportsbooks online, making it easy to place bets from the comfort of your home, it gets tough to control the urge for gambling. Temptation is everywhere these days. There are many people who tend to place a great deal of bets. Interestingly, these fellows earn a profit in the long run, which is one reason for the bookmakers not to like them. Now, let’s move to the other frequent sports mistakes to avoid.
Not Doing Your Homework
The truth is that sports betting takes time. Yes, you can place a bet in seconds, but before you do that, you need to conduct some research on the teams or players that are going to compete, track their history, see if they have experienced any losses recently or any injuries. You should also study well the betting markets. This is a time-consuming process. You have to put some effort in it.
If you are lazy and reluctant, you cannot be successful. If you do not take gambling seriously, put some work in it, you are bound to fail. Of course, this is not to say that you should devote every single minute to studying different markets or thinking of the wagers you want to place. There will be days when a lot of work will have to be put in to get what you want. And there will be times when you will be able to handle things without effort.
If you do your homework right, sooner or later you will be able to find good opportunities on a regular basis. But before your instincts start to work, you have to gather a vast array of knowledge. This can only be achieved through active learning.
Risking Too Much when Gambling
We have already listed a few frequent sports betting mistakes that can give you lots of headaches. Before you read about them in our blog, here is another one. There are many ways to go bust when it comes to sports betting. One way is to place accumulators or parlays with as many selections as possible. Another way is to place wagers at high odds. We, people are greedy creatures. The more we win, the more we want to win. This is why some punters tend to take huge risks in order to make a profit. They want to win a huge amount of money in a short period.
However, it is best to win small sums consistently rather than to win big every once in a while. There is nothing wrong with winning big. But considering that this does not happen very often, you can imagine how much money you could lose until you hit it big. Unless you want to go broke, you need to take it slowly. Do not be greedy. The best strategy is to do your best to increase your bankroll gradually, be patient and take a steady approach.
Ascribing Failure to Bad Luck
Sometimes things do not go as planned and common mistakes happen. Sometimes bad luck will be on your side, even when you claim a bonus. There can be long periods of bad luck, which may result in backing the wrong player or team or placing the wrong bet. There is little you can do about that. You never know when this will end. However, it is very wrong to assume that you failed because of bad luck.
If you want to know the truth, most of the time failure is due to bad decisions and unmeasured risk, and it has nothing to do with misfortune. Putting the blame on fate, karma, destiny of whatever thing you choose to blame is not a good idea. You need to analyse your actions and see where you went wrong. If you find the reasons why you are not successful, you can fix things. It is important to try and see your own fault.
Have you made any inconsiderate decisions lately? Once you locate the source of your misfortunes, you will see that it is not bad luck that triggered them, rather it was something that you did.
Common Gambling Mistakes & Losing Control
Here are more gambling mistakes you should be aware of. A lot of gamblers get angry or frustrated when one of their bets loses. They want to fix things so hard that they immediately place more bets, risking all their bankroll in an attempt to get back what they lost. This is one of the best ways to go bust. If you want to be a successful gambler, you need to master the art of self-control and discipline. Without these, you can never get what you want, even in sports betting sites. Of course, there will be days when you will experience runs of bad luck (unless it is a mistake you made but aren’t aware of). You cannot do much about that except wait patiently for the good times to come round.
Under no circumstances should you increase your stakes when you are going through such a period. One thing is for sure – you are not going to get the money you want. On the contrary, you will keep failing. In the first place, you need to calm down. There will be turnaround sooner or later, but since you do not know when this will happen, all you can do is stay away from making risky wagers. Do not chase your losses. Take the time to practice discipline. That is the best you can do in this situation. On that note, there is one thing called bankroll management. Be sure to you master it so that you become a reasonable and successful punter. It makes a world of difference.
Betting When You Are Drunk
It probably goes without saying that gambling and drinking should never go hand in hand. Any decisions made during a night filled with alcohol will inevitably get you in trouble and have you regret it for the rest of your life.
Alcohol affects your judgment and compels you to do things you would not do if you were not under the influence. Needless to say, placing bets on such a night is not recommended. The truth is that even if you may be fully aware of the common betting mistakes you are making, that one too many drinks will make you feel nothing. Put in other words, you simply will not care.
But when the morning coffee helps you flush away the booze from your veins, and you finally come to your senses, your gambling decisions of last night may no longer seem so good. Make it a habit to bet only when you are fully conscious and able to think sensibly.
The Bottom Line of Betting Mistakes
By all means, you should refrain from making big stakes, putting the blame on bad luck when you are losing or chasing your losses. In addition, you should always have some knowledge on the teams and sports you are willing to bet on and carry out research whenever necessary. Last but not least, you should steer clear of making wagers when you are too emotional and not able to think clearly, or if you are drunk for that matter. Try to develop discipline and learn as much as you can for sports betting. This will help you become a successful bettor.
If you are thirsty for knowledge, read the pages below.