Guys, i want to make one thing clear. If you’re new to betting, you’re going to get things wrong from time to time. Don’t expect consistent victory! Even if you follow all the advice we provide in our sports betting advice and our free tips, it’s still unavoidable that you’ll make at least some few mistakes here or there.
These mistakes will certainly cost you money sometimes, but don’t let that weigh you down too much. Mistakes are simply part of the learning curve. Just make sure to learn from your mistakes, you can view each mistake as something positive. If each mistake you make is a new one, then they’re also a sign that you’re making some progress.
When you place a bet, sometimes you will win, other times you will lose. What is most important is that you don’t decrease your chances of getting a winning bet by making unnecessary mistakes. Far too often we hear stories of how players have thrown away their bets without ever having stood a chance at winning because of silly, avoidable errors.
Below is the comprehensive list we compiled of what we think are the 18 most common betting mistakes which you should avoid. The majority of this advice will apply to recreational bettors and serious bettors alike.Just to be safe, though, we also offer some useful advice for avoiding them.
Read them, learn them, and good luck!
1 .Bankroll Management Explained
Pay attention because Bankroll Management is probably the most important point in this whole list.Bankroll management is relatively straightforward. First, you’ll need to set a budget for how much you’re prepared to spend on your betting. We suggest setting aside this money solely for the purposes of placing wagers. This sum of money forms your betting bankroll, and it’s better to have it separate from any day to day money and savings that you have.
2 .Placing Too Many Wagers
Another mistake we come across very often is when people who follow different sports think that they will be betting experts on all these sports.
The product of this tends to be a resultant betting slip that looks like a cocktail of all sorts of sports and markets mixed together which, from what we’ve seen, hardly ever does well. Whilst it is not uncommon to have a large interest in multiple sports, more often than not, there will always be that one sport which you know and love better than the rest.
Since all sports are different and each one comes with its own unique betting options, we think it is wiser to stick to the one sport that you know best.
3. Betting for the Wrong Reasons
Have you ever sat down to watch a game of football on TV and decided to place a bet just to make things more exciting? Or placed a wager on a tennis player to win a tournament because he’s your favorite? Or backed your country’s soccer team to win an international tournament because you’re feeling patriotic?
If you answered yes to any of these questions (and you probably did if answering honestly), then you’re guilty of making one of the most common betting mistakes of all. There is only one good reason to place a wager if you’re aiming to make long term profits, and that’s when you’ve identified a genuinely good opportunity. Betting without a cause or betting based on your emotions are not good enough reasons to place a bet. This type of behavior will almost certainly cost you money in the long run.
Of course, we should point out that it’s absolutely fine to make this particular mistake if you’re betting purely for recreational purposes. If your goal is to have some fun, then go ahead and bet in whatever way brings you the most enjoyment. Just make sure that you’re always betting within a budget though.
4 Always Backing Your Team
You’ve been supporting them for as long as you can remember, and you plan your weekends around their fixtures – but it is important to keep in mind that virtually all teams go through a rough patch at some point throughout the season.
This is especially valid to lower level teams. If your favourite team is experiencing a losing streak, as optimistic as you are that the only way is up, avoid using your money to support your emotions. Passion can well and truly cloud judgement. You don’t have to bet against your team but avoid that market altogether until things start to change.
5 Not Learning Basic Strategies
Most people who bet on sports to make a profit understand the importance of learning some strategy. So, they’ll typically dedicate some time to learning at least a few basic strategies to help them make better betting decisions. Those who take things more seriously should try to understand the more advanced strategies too.
Unfortunately, we’ve discovered that the majority of those who bet for fun make the mistake of completely overlooking strategy. We understand WHY this happens, but it’s still not something we agree with. Even if they don’t stress over the money that they lose, we are positive they prefer to win.
6 Betting for the Sake of It
Let’s be honest, we’ve all done this at some point or another. You’re recovering from an exhilarating Sofa Sunday where everything went in your favour and you won more than you ever did before. It’s a Monday night now and you are feeling more confident in your superior betting abilities than ever before, only to realise that there are no major matches being played – so what happens next? You scroll through your favourite bookmaker’s homepage and start looking through other minor international leagues until ultimately temptation gets the better of you and you wager your money on teams that up to a few seconds ago you had never even heard of.
Shockingly, your bet fails, and yesterday’s big winnings are gone in an instant. Sound familiar?
Unfortunately, this is something which happens very frequently where people who enjoy sports betting end up playing just for the sake of it or because they are simply bored. Keep in mind that money in your account is real money, and even if a lot of that was added in the form of winnings, it is still money and should not needlessly be thrown away on an impulse.
7 Using the Wrong Betting Sites
Without a doubt, the easiest way to place wagers these days is over the internet. It’s convenient and easy, and there are several other benefits too. It’s essential to use the right betting sites though. They’re not all of the same standard, and some should absolutely be avoided. Unfortunately, a lot of bettors make the mistake of just signing up at the first site they find.
MOST sites are at least reasonably good, and the vast majority are safe to use too. So signing up at a random site is unlikely to have disastrous consequences. There are a few genuinely bad sites on the web though, some of which should not be trusted with your funds. It’s risky to sign up with an unfamiliar site when you have no idea if they’re reputable or trustworthy. Knowing this information should be a minimum requirement. Ideally, you should only consider the best sites available.
We’ve made this mistake very easy to avoid, because we’ve researched and tested a wide variety of betting sites and ranked them according to what they have to offer. Our top rated sites are all very high quality, and can definitely be trusted. Check out our rankings to find out more.
8 Forgetting to Cash Out
Regardless of whether you bet for fun or profit, it’s important to cash out after an especially good win or a long run of wins. You can use some of the proceeds to build up your bankroll, but it’s nice to actually see the fruits of your labor sometimes!
9 Chasing a Loss
Nobody wants to lose. We all place bets hoping this is going to be the one that gives us that all important to win, but things don’t always go our way and losing some bets is in fact inevitable.
When you do lose a bet, it can be very tempting to try and redeem yourself and make up the money you lost by placing a new bet. This is known as chasing a loss and can develop into a very, very dangerous habit as losing the bets which are ‘supposed’ to win back your losses can result in a worsening cycle of more and more losses.
10 Betting Under the Influence
This one pretty much goes without saying. Do not drink and drive, do not drink and text, and definitely do not drink and bet.
Sports betting is already tricky enough as it is when doing it sober so don’t overcomplicate your life and place bets when you aren’t 100% focused on what you are doing.
If you are drinking, avoid betting at all costs and do not risk making mistakes with your money that you will undoubtedly regret the morning after.
11. Sticking With a Losing System/Strategy
You shouldn’t automatically give up on a system or strategy that doesn’t immediately generate positive results. But you shouldn’t stick with losing ones for too long either. It’s just throwing good money after bad.
12 Chasing Big Money
This mistake is the exact opposite of the one we just listed. Rather than blindly backing the favorite all the time, some sports bettors instead back longshots all the time. The big payouts on offer for longshots are often tempting, and it can be right to back them on occasion. Consistently backing selections at high odds SOLELY to chase a big payout is definitely a mistake though.
13. Not Taking Advantage of Match Betting
Matched betting is a technique whereby sports bettors can take advantage of free bets and other promotions offered by betting companies in order to make a ‘risk-free’ profit.
The premise of this type of betting is that by using the bookmaker’s bonuses in conjunction with a betting exchange, you can cover all possible outcomes of a bet and therefore make a guaranteed profit, without actually ‘gambling.’ This, of course, is a very superficial description of what match betting is and the technique actually goes much deeper – which is why we have written a separate beginner’s guide to match betting for you to check out.
When done properly, match betting is an easy means of making some extra money and we definitely recommend that you look into it – because why not?
Sports betting is a tricky business where there will always be wins and always be losses. To maximise your chances of winning, you should always aim to avoid making unnecessary betting mistakes and by following all the pointers we listed in this article, we can assure you that you will be on the right track for a more promising betting experience.
We provide betting tips on www.thebetkingtips.xyz or on our App on google play store The Bet king App but please keep it in mind we cannot provide you with 100% tips and no one in this world can except God alone. SO take our tips as a guideline.