10 Most Common Sports Betting Mistakes You Should Avoid
Internet sports betting is a new fad that is sweeping the globe. Betting on sporting events likely got birthed quickly after such competitions got invented, yet, this pastime has never been as widespread and accessible as it is today.
Hence, millions of people are scouring the internet for secrets concerning how to be a successful sports bettor. And how to avoid the worst mistakes in sports wagering.
While there is no recipe regarding the easiest bet to win and what events offer the most sizeable winning chances, what we present below are some common-sense pieces of advice about what you should not do in sports betting.
Table of Content:
- 1) Not Going Line Shopping
- 2) Going for Big Accumulators
- 3) Not Cashing Out Soon Enough
- 4) Using Unproven Sites
- 5) Betting Impaired
- 6) Avoiding Bonuses
- 7) Going After Big Payouts Only
- 8) Not Managing Your Bankroll
- 9) Chasing Loses
- 10) Not Setting Betting Limits
- Final Thoughts
1) Not Going Line Shopping
Line shopping refers to the activity of visiting multiple sportsbooks to discover which one has the best odds available on a given event. Most sports betting sites will have odds variations on all their listed events for many reasons, and it is your job to find the best ones, gaining an advantage no matter how thin.
2) Going for Big Accumulators
An accumulator wager typically involves four or more selections, requiring that they all win. Essentially, the appeal of this complex bet is that the stake and return from the first listed market will roll over onto the next one, and this process continues until the final selection gets settled. While the returns of these bets are enticing, each added selection increases the risk that the accumulator will fail.
3) Not Cashing Out Soon Enough
How do I win a bet every time? You can’t, but if your chosen sportsbook has a cash-out feature and you are not greedy, you can request a payout midway through a bet when things are going your way. That way, you will get a profit and be able to keep pace with your operator.
4) Using Unproven Sites
The internet has gotten flooded with gambling platforms over the years. Therefore, it is easy to get stuck betting on an untrustworthy one. Hence, to stay clear of such operators, the best course of action is to pick the best offshore betting sites as suggested by premium gambling review hubs. These only list trustworthy platforms.
5) Betting Impaired
Unlike casino-style gaming, sports betting requires knowledge. Wagering/sports skills, if you will. Thus, you must ensure that you are always wagering with a clear head. Betting under the influence of alcohol and other substances can cloud your judgment, and the same applies when you face loads of stress. When your mind is not in the game, so to speak, you can make poor moves that may incur significant financial losses.
6) Avoiding Bonuses
Bonuses are the backbone of the online gambling sector. They let you do some free gambling. So, it makes no sense to avoid them. If you come across bonus stipulations that seem overly complicated or unfulfillable, research them and run the considering offer through a free expected value calculator online to learn its accurate worth.
7) Going After Big Payouts Only
Many experienced sports gamblers will tell you not to bet favorites, that the real money is in winning underdog wagers. However, the goal should always be maintaining a steady stream of profits, and the best way to accomplish that is to go line shopping on favorites. Yes, these bets yield only small returns. Nevertheless, their profits pile up in the long run and let you stay in the black.
8) Not Managing Your Bankroll
Every gambling hobby requires that gamblers practice proper bankroll management. No one should go into a betting hobby without first setting wagering limits and allotting only specific periods for betting activities. Consequently, it is never a good idea to overly engage in anything, particularly activities that involve financial risk. That is why you must have safeguards and only bet what you can afford to lose.
9) Chasing Losses
How safe is online betting? From a monetary standpoint, people lose more often than they win when wagering on sporting events. Losing streaks are inevitable. It is the nature of the beast. But, what is avoidable is digging yourself into a hole that you cannot exit. When the losses stack up, it is vital to call it a day and not bet believing that a change of luck is around the corner.
10) Not Setting Betting Limits
You may think – how is setting betting limits different from managing my bankroll? This tip refers to implementing responsible gambling measures at your chosen online sportsbook. Most, today, allow you to set deposit/bet/loss limits and self-exclude when you start thinking that things are getting out of hand. These are essential tools for anyone that is suffering from impulse control issues.
Final Thoughts
Sports betting can be fun and lucrative if you know what you are doing. To stay out of the red, and always hover in the black, follow the words of wisdom presented above. They should help you dodge the pitfalls that have made life sour for many that have indulged in betting entertainment.
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