Whether you’re starting out as a bettor or you’re a seasoned bettor who wants to refresh over some of the most common mistakes people fall for, here are our top mistakes in sports betting that can help you get an edge over others.
You’ll be a more knowledgeable, and informed bettor which we hope will help you be aware of the common errors and increase your chances of winning.
Mistake 1: Blindly Betting
One of the most common mistakes especially with beginners is placing a bet based on a feeling when you have zero knowledge of the matchup, statistics and teams you’re placing a bet on! Whilst following a gut feeling has made some bettors profitable, that gut feeling can only be trusted once you have a lot of experience and understanding of the game.
We have a lot of information on our blog which will help you make better decisions and understand the basics of sports betting so you don’t need to blindly bet!
Mistake 2: Betting Under the Influence!
We all enjoy a drink with our mates whilst watching the footie but there is a time and a place. Risking money when you’ve had too much alcohol can lead you to make some decisions that you will regret when you’re sober. Many bettors get far too confident under the influence, betting more than they can afford to lose, gambling away money and chasing losses.
Mistake 3: Not Cashing Out
It’s imperative to your performance to cash out frequently. Your winning stakes don’t translate into profit until you cash out and it’s in your bank. Otherwise, you might end up losing all your profit by increasing your wagers just because you have more money in your betting account. We hear a lot of people forgetting to cash out and we recommend to at least cash out at the end of every month if not after every win.
Mistake 4: Betting Too Frequently
The rush of a win is exciting, we get that. But betting too frequently doesn’t necessarily mean more wins.
If you ever find yourself betting just to bet and the bet doesn’t align with your strategy you need to stop yourself and reanalyse. A lot of people get stuck in betting too frequently because they’re chasing wins and the rush they get from it. You want high-quality bets over quantity. You’re here to make a profit.
Mistake 5: Betting on Credit
If you do not have the cash available to bet on sports, then you really should not be betting at all! It is incredibly foolish to bet on credit as you’ll end up paying interest on the amount borrowed. Should you lose a lot of bets you may never end up paying the borrowed funds back for a long time. You should only risk what you’re able to afford to lose, so stick with cash and if you don’t have any, save first.
Mistake 6: High & Unrealistic Expectations
When betting, you need to keep your expectations realistic. Do not go head first thinking you’re going to win a hundred thousand in a few months, otherwise you will fail.
Slow and steady wins the race and it takes time for your profits to build up, so instead of sugar-coating expectations, a realistic target would be to try and make a few hundred a month without risking too much, giving you a second income. Focus on quality consistent wins and that target is achievable.
These are our top mistakes to avoid but there is so much more to learn, we also recommend you read about:
These will give you more insight into betting and help you create a strategy that you can implement.
If you would rather us work out the strategy, you can copy our bets. Find out more here