Sports betting has taken the world by storm, and online betting cannot be easier thanks to the Internet. However, unless you are a seasoned bettor, you are likely to make a mistake or two when you are just starting out. This is why we have a few tips on how to avoid classic rookie mistakes for all bettors who want to give sports betting a try.
1. Betting on the favorite no matter what.
This is something that rookie bettors are often guilty of. Favorites DO win often as a matter of fact, but statistics will tell you that even they have a losing streak from time to time. The odds on the favorite winning are good, but there are no guarantees in sports that they will win every single time. And betting on them can sometimes cost you a hefty sum instead of earning you one.
2. Placing too many/huge bets.
Even though this might seem too obvious, it often causes rookie bettors to lose a lot. As long as you are keeping track of your finances, you will be ok. But if you don’t and give little thought to managing your money, you can suffer some significant losses.
You should allocate a budget you are willing to spend on betting, define how much you want to stake on wagers, and then stick to that plan. This will prevent you from making huge bets or chasing your losses.
You should avoid making plenty of wagers or betting on many different sports. It’s ideal to choose one sport (or two), and stick to them. This doesn’t mean that you should bet on every single match on a Premier League matchday.
3. Betting after you’ve had one too many.
This is one of the simplest and easiest ways to lose you money, so to put it simply – don’t do it. You’ve probably heard the story about someone who’s spent his life savings on a bet because of intoxication. Placing wagers when you are inebriated will guarantee making bad money-management choices. If you are going to have a drink when you go to the bookmaker’s, make sure to place your bets before that.
4. Letting emotions take control.
This is a mistake rookie sports bettors make just as often as the previous one. Letting your heart and not your head take control when it’s betting time is guaranteed to cost you a hefty sum from your bank account. Some inexperienced bettors love playing against those teams they dislike. Just like you shouldn’t place all your bets on the teams you favor, you also shouldn’t be placing them against the ones you cannot stand, hoping they would lose.
5. Having unrealistic expectations.
There are a lot of rookie bettors who believe that just because they know a lot about a certain sport that alone immediately makes them pro at betting. Sports betting is more of a hobby than a steady source of income, and having massive knowledge about a team or a sport is not a guarantee that betting on them will be successful. Some say that “beginner’s luck” is a real thing, but betting on sports is complex and many different factors play a role in it.
