Betting on sports is not an easy task. Yes, it seems simple. After all, all you do is guess the correct outcome. But as logic says, if it really would be that easy, every bookmaker in the world out of money by now.
But still there are some players who have found success betting on sports. We are looking at 9 sports betting mistakes bettors make. Sometimes even seasoned professionals.
Not keeping precise books of results
Most punters claim they are long term winners. It is in our nature not to be honest and admit that we are in fact losers. It is convenient to even deceive yourself. And this is mostly because we have no idea how much up and down we are. Because we don’t keep track of our sports betting results – a big no-no! There are gamblers who like to keep track mostly when they are on a winning streak but start to forget making notes when they enter downswing. This is not real bookkeeping. If you want to be serious about sports betting, you have to register every bet you make and not give in to the temptation to occasionally forget some of the bets we lost.
When facing some bigger losses, professional bettors shrug it off and keep going forward. One of the common sports betting mistakes in sports betting is chasing losses. This happens when bettors lose their cool and let emotions take over their judgement. Not letting emotions dictate your decision making is one of the most important skills or mindset you can have when being a professional sports bettor. Or otherwise successful in life. If you end up finding yourself constantly chasing losses, you are setting yourself up for a big failure – never forget that!
Relying on others when making a bet
It is useful to have many experienced punters in your circle of friends. But too many bettors trust their buddies too much when making bets. This usually happens when themselves are out of ideas or haven’t taken their time to analyze situation themselves. When you hear your friends talk about bets that are guaranteed because friend of a friend of a friend has access to inside information, proceed with caution. If you lose your bet, you can blame only yourself.
Gambling when intoxicated
Gambling and drinking don’t go well together. Well, at least professional gambling and drinking. Because usually when people drink, too often they let emotions take over their decision making. As we said earlier, you need to keep your head cool. Important aspect when talking about sports betting mistakes.
Going on tilt, let emotions get on the way
We already mentioned that briefly, but it has to be repeated. We have also experienced some brutal bad beats when betting on sports. Sometimes impossible just happens in front of our eyes and there is nothing we can do about. Some impossible touchdowns, unbelievable penalty kicks and a red card that was totally uncalled for… List goes on forever.
Some people also have a habit to bet against team we actually don’t like, just because you really want them to lose. And if they lose, you will money and it will be happy times and round of beers for everyone – happy times. Bad decision making. Bets only motivated by our emotions will keep our profits low, sometimes even destroy our bankrolls. Always remember to stay calm.
You can’t be master of every market
Your options making bets are endless. That means you have to choose where you want to put your focus. Never forget that sportsbook are fun by traders who are supreme expert in their expertise. In order to make money, you have to beat those guys. That means you have to be an expert too. How to be a succesful sports gambler is not a magic trick – you can learn it.
Never forget – only bet for value
Betting for value means only making bets that positive net expectation. Sportsbooks add juice to each bet, so you are having tremendous handicap from the very start, meaning you have to extra picky and careful. The bigger the juice, the pickier you have to be when choosing what to bet on. You will find positive expectation bets when you and the bookie disagree on something. This is how you make money when betting on sports. It is easy to only concentrate on the outcome of the match, but never forget that odds have to be there. If they aren’t, choose a better spot. Or you put yourself in a spot and make another one of those… sports betting mistakes. Also be careful where you make your. Make sure how to choose a bookmaker (always from top online sportbetting sites).
Lending money for betting / Getting into debt
Never do it. It may ruin your mindset and often spirals out of control. Odds are that you are not even a winning bettor. This is one of the important – always make bets with the money you can afford to lose. Always stay on track and concentrate on your strategy. If your biggest concern is how to pay your loan back in time, things can get out of hand really fast.