Believe it or not, all sports punters make mistakes from time to time. But when you put your funds at stake, it is important to try to limit the number of mistakes you make with all your might. Nevertheless, keep in mind that betting mistakes will help you become a more experienced and knowledgeable punter. Remember, it is impossible to make the right decision all the time. Acknowledge the mistakes you have made and try to learn from them as much as you can.
With this in mind, let us now proceed to discussing the most common betting mistakes punters make.
1. Becoming obsessed
One of the biggest mistakes both beginners and professional sports punters make is betting way too often. And this is also one of the easiest mistakes to make, as there is a huge sports betting market. Bookmakers and super betting sites offer a wide range of sports events for players to bet on, with a diverse betting market within each sport. You see, betting on everything is really tempting when there are so many options available.
Arbers, i.e., punters who utilise betting arbitrages, always lose a given percentage of their bets, as they put money on all possible outcomes. And yet, arbitrages usually make a profit in the long run. As you might suppose, such players are not welcomed with a smile by bookmakers, as this is bad business for them. That is why whenever a bookmaker suspects a player of arbitraging, they will limit or even close their account (or ask them to leave the establishment).
2. Becoming too emotional
Another widely common mistake, which is especially evident in the profile of social sports bettors. It is easier to bet on what you think will happen instead considering all relevant factors before making your bet. In addition, a great number of punters lose money by betting on their favourite team no matter what.
But if you want to be a successful sports punter, you should differentiate emotion from betting. After all, you place your own money at stake, so there is no room for sentiment and emotion, but for objective deduction. This is not to say that you should never bet on what you wish to happen, just that you need to be certain that your bet is based on the right reasons.
3. Chasing losses
Arguably the most devastating mistake a punter can make in all forms of gambling is go after their losses. Pursuing losses has been the destruction of many gamblers. Incidentally, chasing losses is a mistake which is too easy to make.
Expect frustration each time you lose, and especially when you are doing all the right things and still losing. It is tempting to assume that lady luck will come to your assistance at some point, but the truth is that there is no guarantee when (and if) this will happen.
Try and refrain from chasing your losses, because if you keep on increasing your stake without much success, sooner or later, you will run out of money. Learn as much as you can about bankroll management and try to discipline yourself in order to avoid chasing losses.
4. Blaming misfortune
Let us make one thing clear – with sports betting, experiencing a bad run is not all that uncommon. Remember that even the most successful punters undergo a bad run every now and then, so there is no point in worrying too much. In sports betting, knowledge plays a far greater role than luck, so you should not blame bad luck every time you undergo a losing run.
If you do not take all key elements into account when placing a bet, you should blame yourself for losing runs, and not your bad luck. Perhaps you base your bets on more mediocre factors, which, of course, can result in losing bets.
Instead of blaming misfortune for your losing runs, dedicate some time to make a proper research before placing a bet. In no time, you will be able to correct your mistakes. Remember that if you are not honest with yourself and do not acknowledge your mistakes, you will never have a winning bet.
5. Betting on things you do not understand
Bookmakers usually offer over 10 different sports to bet on. But you need not be an expert on each of them – it is enough to have some knowledge on the sport you bet on. Because if you do not really understand a given sport, then you are very unlikely to make a profit from betting on it.
This mistake is largely the same as betting on everything in that it must be avoided at all times. If you want to make a profit from sports betting, you should never put money on sports you do not understand.