Sports Betting Mistakes to Avoid

Sports betting is fun and exciting. But it can also be dangerous when you make mistakes. They may not seem too big of a deal at the time, but in retrospect, they can cost you an arm and a leg. Learn how to avoid these pitfalls with this article.

Placing Too Many Wagers

Very crucial but most often overlooked. Betting on a wide range of different sports is dangerous. If you want to succeed in betting, the goal is not to place too many bets. But to wager the best bet you possibly can. The idea is-be selective. Rather than betting on many sports, focus on one or two. This advice is especially relevant to gamblers who mainly bet for profit.

Having Unrealistic Expectations

Many players have unrealistic expectations. They think that gambling can make them rich overnight. Some expect to start making money immediately because they know a little about sports.

The truth is that winning at sports betting is never dull. It is challenging and certainly needs time, skills and knowledge. This is not to discourage you, though. But we want you to have realistic expectations.

Changing the Unit Size

Again, changing the betting size of your wagers is a big mistake. Whether you are on a winning or losing streak, never double your betting size. Instead, stick to the flat betting approach.

Flat betting is maintaining the same amount on every game you pick and risking only 3% of your bankroll. For instance, if you started betting with $100, every wager risks $3. This approach will help you manage your bankroll.

Buying Picks

Buying picks is another mistake gamblers make. While there are legit handicappers, not all touts guarantee a win. In fact, there are a lot of scammers using fake names to convince you to buy picks.

So, be cautious of handicappers, especially those promising easy money. They will blast you with false picks and end up losing your hard-earned cash.

Failing to Shop For the Best Line

An easy way to earn maximum value from your bet is by comparing lines at different sportsbooks. Unfortunately, it is something that many gamblers fail to do. They even don't bother about how much the difference it can create.

To explain this point, here is an example of betting odds available for a tennis player to win in an upcoming event.

Site A-1.83

Site B-1.70

Site C-1.75

At a glance, the difference might not seem significant. But consider wagering a bet of $100. Site A will offer you $83 if you win. Site B offers $70, and site C $75. There is nearly a 20% difference between these figures, which is substantial.

The idea is that even a minor difference will significantly impact how much you can win. If you sum up all the above wins, you will make more profit than you can imagine.

Betting Blind

Betting blind is a big mistake that most bettors overlook. Betting blind means placing your wagers without doing any research. Instead of wasting too much money betting on wagers that don't pan out, conduct research before creating a bet slip. This research entails discovering the team's past performance, form, and more.

Gambler's Fallacy

This occurs when you believe that winning is around the corner after a series of losses. You think that will change your luck. It never will. You need to get out before things worsen if you are on a losing streak. Stop betting when you are ahead, as it is proven that gamblers will increase their bets to get back what they have lost, which sometimes leads to terrible outcomes.

Betting For The Wrong Reasons

Many bettors don't think clearly and go with their emotions. They put their money down because they like a particular player or are excited about a match. You should never bet on anything other than your knowledge of a particular team, player or event.

But if your goal is to bet for fun, you should bet on whatever brings you the most excitement. But always remember that you are betting with a budget.

Overreacting to recent trends

Some bettors get carried away and overreact to what just occurred in a match. They think they have a good chance of winning and throw their money down without thinking. However, not many realize that those streaks come in spurts and are short-lived; most times, the streak does not continue.

Not managing bankroll

This is probably the most common mistake. Bettors will continue to bet with their bankrolls, but they will not manage it properly. They don't know when to stop gambling and save up their money instead of risking it repeatedly.

Where to Bet on Sports: Best Legal Sportsbooks

The last thing you will want to avoid is betting on non-reputable sportsbooks. Thankfully, most states in the USA have legalized plenty of betting operators. Popular ones include BetMGM, Caesars, and PointsBet.

FAQs

What percentage of my bankroll should I wager on a bet?

It ranges between 1 to 5%, depending on your preference. But 3% is desirable.

Which is the most profitable sport to bet on?

The most profitable sports to wager is the one you best understand. So, if you know tennis, consider betting on tennis events.

What is the best betting strategy to win when betting on sports?

The ideal sports betting strategy is always to conduct your research. Also, use different betting systems and strategies, which are helpful in the long run.

Are there safe bets to avoid losing on sports betting?

No. Sports betting is a game of luck. So, the best way to avoid losing is to research and prevent common errors.

Which sports market is the most profitable?

Every market is profitable, depending on how you understand betting on it. But markets such as Draw No bet, Goal Line and Handicap offers better odds.

Can I set a deposit limit with a bookmaker?

Yes. Most bookmakers allow players to set a depositing limit. Go to the "My Account" Section and select "Deposit Limits." Enter your preferred limit and save changes.

Is there a betting strategy to follow if I have a negative run?

No. Don't chase losses. Instead, conduct more research before wagering and manage your bankroll correctly.

Can I Block my betting account with a sportsbook?

Yes. You can block your betting account by browsing to setting section and delete your account. Or, you can email the sportsbook and request to delete your account.

Are sports betting legal in the USA?

Yes. Most states have legalized sports betting in the USA. Ensure you check your state for gambling rules and regulations.

Can I make a profit from betting on sports?

Betting on sports can help you make money. However, this is possible if you make correct predictions and manage your bankroll correctly.