Betting is just not based on luck – it demands a lot of skill too. A small mistake could cost you your hard-earned money. You can try your best to make the perfect bet, but you never know when a small error will blow out of proportion and ruin the game. But seasoned bettors know that ups and downs are a part of the game, and the key is to stay focused and disciplined throughout the journey. So, here we will put forward seven of the most habitual mistakes that amateur bettors make.
Not shopping around for the best value
Online betting odds and values differ from one bookmaker to the other. The odds may be slightly different, but even this small disparity can make a significant impact on a high wager. While the general convention is to choose the bookie that gives the highest possible odds, you can always explore and see which site works best for you. The biggest mistake amateurs make is not shopping around enough and settling for a bookie that does not fetch the maximum possible winnings for their selections.
Giving in to recent trends
Beginners and novice gamblers often fall victim to hot trends. For instance, if a particular team is on a back-to-back winning streak, amateur bettors will be tempted to bet on them. In contrast, if a team hasn’t played well in the last few games, novices will reject them. Winning teams are overvalued, and those coming off a loss are underrated. Bookmakers exploit the tendency of gamblers to bet on winners and set their lines accordingly. Oddsmakers know that no matter what, the general bettors will always back the recent winners. Thus, amateurs are offered overpriced numbers, while experienced gamblers can see through this ruse of bookmakers.
Always backing your favourite team
Almost every team goes through rough times at some point. Your favourite or home team might be on a losing streak, but you bet on them anyway because your gut says that things will look brighter. But emotions often cloud judgment. It’s not that you should bet against your favourite, but you can altogether avoid that particular market until situations change. Seasoned bettors profit by analyzing teams, looking into statistics, and betting on the ones that can win their bet.
Uninformed bettors are most likely to place impulsive bets because they are not familiar with the betting process. When you’re putting a wager, you must do background research on the team you’re backing. It helps you make informed decisions and reduces the chance of avoidable errors. If there is a team or teams that you are acquainted with, you should read up about their players, suspensions, injuries, manager, away from/home, and style of play, which can prove to be valuable while making your betting choices.
Only betting on accumulators
No doubt, accumulator bets are super exciting. Its very structure of being a high reward/high-risk betting type can get any bettor’s adrenaline rushing. However, despite the supersized margins, getting a win with accumulators can be quite an uphill task. Many amateurs make the mistake of placing only accumulator bets and may end up not getting a single win. Instead, a careful balance between large accumulators and reliable, single bets is the best way to go about it.
While nobody wants to face a loss in betting, losing some bets is an inevitable part of the game. But a very disastrous habit that many amateur bettors have is to try and make up for the loss by placing a new bet. The strategy may work once, twice, or even thrice. But there is no guarantee that chasing a loss will always be fruitful. Trying to redeem your losses can lead to a vicious cycle of more and more failures until it’s too late to come out of the mess. It’s wisest to accept defeat at the right time and avoid spiraling into deeper trouble.
Not maintaining records
A data-driven, organized, and systematic approach to betting is invaluable. Amateurs often get swayed by the excitement and fail to keep track of the amount of money they have won or lost, the amount they have deposited in their account, and the sports and markets that worked out the best or worst for them. But such records give a detailed roadmap of where you stand and what your next move should be.
Betting is mostly a game of chance where anything is possible. However, you can increase your possibility of winning by always aiming to steer clear of making avoidable betting mistakes. By following the pointers we’ve listed here, you can rest assured that you will be on the right course for a more enriching betting experience.
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