Are you new to the world of sports betting? If so, then you probably already know how hard it is to avoid mistakes and bad habits.
The sports betting strategy is massive, which means that it’s filled to the brim with advice, tips, and tricks. Unfortunately, many of these tips aren’t useful, and following them can cost you dearly.
When it comes to beginner sports betting mistakes, it’s all about doing the opposite of what the experts do. Rather than trust your gut, you have to look at hard data. Rather than make things personal, you have to treat betting like a mathematical process.
Today, we’re going to go into two major fundamentals of beginner sports betting errors so that you can identify and avoid them better.
- Lack of Bankroll Management
Bankroll management begins with understanding your limits; knowing how much you are willing to spend and betting amounts that you can afford to lose. Keeping to a betting budget over time is vitally important. Use the same stake for all your bets.
Having an arsenal of staking strategies can help you make more informed decisions, take an occasional break, and adjust your betting sizes accordingly. Ensure that your goal with betting is to make a profit rather than to try and chase your losses; larger bets can get you in trouble if your bets are constantly losing.
- Emotional Betting
Many sports bettors make the mistake of allowing emotional loyalty to cloud their judgment when placing bets. Emotional betting can lead to an overall loss of money because when betting with your heart and not your head, you are not taking into account variables like:
- team records
- player performance
- past results
To avoid this mistake, bettors should focus on the facts and do their research about the sport and team they are betting on. It is also important to only bet with funds that have been allocated specifically for gambling.
- Ignoring Research
There are many types of gamblers and most neglect to adequately research key variables like the teams, recent performances, and players on the court or field. Without research, people are more prone to make poor decisions and pick the wrong teams.
To correct this issue, bettors should always look to be as informed as possible and read up on past match results or look for any potential news regarding player injuries or changes to team strategies. Another important factor is to keep an eye on the sports segment of the news. This way, people can ensure they have all the necessary information before picking a team.
- Chasing Losses
This means placing multiple bets in an attempt to try and ‘make up’ for losses made in previous bets. Chasing losses is dangerous and should be avoided at all costs. To avoid making this mistake, bettors should focus on setting a budget and sticking to it. This helps stabilize your betting expenses and allows you to have a better understanding of exactly how much you can afford to spend.
Have an understanding of the odds and how likely it is that an outcome will occur. Having this knowledge will allow you to stick to your strategy and avoid increasing the stakes in hopes of ‘getting even.’
- Betting on Favorite Teams
One of the most common beginner errors in sports betting is betting on your favorite team. It is important for bettors to remember that they should only bet on games with the best chance of winning and not because of who they support. Too often, bettors make the mistake of allowing their emotions to cloud their judgment and end up losing more than they can afford.
To avoid this, bettors should research the teams they intend to bet on and come up with an informed prediction instead of simply betting on the team they love. For example, on NBA betting, look for a website with NBA props betting that offers a wide range of betting options across various teams. This will encourage objective analysis and prevent you from making biased bets.
- Lack of Discipline
When you lack discipline, you are unable to separate yourself emotionally from your bets. This often leads to placing large bets with little to no research or tracking. To avoid this, it is important to set a strict betting budget, research teams and players before placing bets, and track your results.
If you feel too emotionally invested in a bet, it’s best to step away and not risk the bet. Discipline also applies to how many events you are betting on; it’s often best to focus on a few select events to gain a better understanding of the teams and players rather than making numerous, scattered bets.
- Overlooking Alternative Bets
One such error is overlooking alternative bets. Too often, new sports bettors will focus on traditional bets such as the:
- point spread
- money line
It’s important to note that there are many other bets a bettor can make. These include team props, corner bets, and correct scores. By not being aware of these alternative bets, a bettor might miss out on some beneficial wagers. The best way to avoid this error is to do your research. Look into the different types of betting odds and what you can bet on. Listen to podcasts, speak to other experienced sports bettors, or do your own online research.
- Betting Under the Influence
The worst error one can make is betting under the influence. Betting when you are drunk or impaired affects your decision-making skills and can lead to taking unfavorable risks. Gambling should not be taken lightly, even when having fun. To avoid betting under the influence, have a set limit to respect and know your limit before you start.
The goals in sports betting are to always have someone in your party, who is not drinking, monitor your bankroll, and offer a second opinion on which bets to place. If you or someone you know is having a hard time with the issue, do not hesitate to seek professional help.
Avoiding Beginner Sports Betting Errors
Utilizing bankroll management, avoiding bad lines, and understanding the importance of shopping around for the best odds are all important elements of successful long-term sports betting. With the right strategy and knowledge, any novice sports bettor can be profitable. Bookmark this guide on beginner sports betting errors and start winning today.
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