Bettors are liable to make betting mistakes; it is not uncommon. The only problem is that most of the time, they are unconscious of what they are doing wrong, and later on, it becomes a habit. Mistakes are part of life, but repetitive betting mistakes will make you, as a bettor, lose a lot of money.
That is why you have to be careful of what you do when betting; your emotions are equally important. Whether you are new in the gambling world and you want to know these betting mistakes so you can avoid it, or you have been betting for a while, and you feel that you are doing something wrong, then read on.
As you read further, we will go into how to avoid making betting mistakes. The first step would be for you to study and examine yourself. When you do so, you can pinpoint what you are doing wrong.
Spread Betting Mistakes
Bookmakers make use of spread to try to match two unequal teams in an event. Here are some spread betting mistakes that you should look out for:
- Bad bankroll management: Bankroll mismanagement, one of the biggest spread betting mistakes, it has to do with the money that you use for betting only. It would be best if you did not bet with money which you use for survival. Betting should be done with the money that would have just a little or no impact on you if you lose it.
- Betting with emotional attachments: This is pretty straightforward. Avoid sentiments when placing a wager. The fact that you are a fan of a particular team doesn’t mean you should always bet for them. Be realistic! Weigh the statistics and pick your best bet, not your favorite.
- Don’t bet if you are drunk: It might sound petty, maybe one of the spread-betting mistakes you have been making already. It is not advisable to wager if you are drunk. You could click the wrong option, or bet on the wrong game, you never know!
- Betting on random sports: If you are a regular soccer bettor, and there is no soccer game on that day, don’t because of that bet on basketball. If your sport is not in action, it would be in your best interest that you don’t bet on that day.
- Settling for just one bookmaker: This is not necessarily bad, but some bettors pick one sportsbook and stick with them. It’s a good idea to spice things up! You may find better odds with other sportsbooks.
- Holding the wrong expectations for your wagers: You won’t just get rich overnight by placing that unrealistic assumption on your wagers. It would end in disappointment.
Matched Betting Mistakes
Match betting mistakes are very common because it holds minimal risks for bettors. Here are some common matched betting mistakes you should check yourself for:
- Improper keeping of records: Sometimes, it may be difficult for you to keep track of your matched bet. It is one of many matched betting mistakes. Make use of a spreadsheet; if you prefer the simple pen and paper method, it’s also sufficient. Just keep traceable records.
- Unmatched bet: It is probably a more common one of the matched betting mistakes. It is when there isn’t enough liquidity to activate your wager. In such a case, your bet becomes unmatched because your lay bet is canceled.
- You are picking the wrong betting option: One reason why you have to be careful. You could choose the wrong bet type when making your pick. Anybody is liable to these matched betting mistakes. Most times, punters don’t realize it until they have lost the bet.
Other Common Betting Mistakes
Apart from the spread betting mistakes and matched betting mistakes that punters commonly make when placing wagers there are other common mistakes. Here are some of them:
- Not accepting losses: Many are found in the habit of chasing their losses. If you had a losing day, let it go. Bet another day. You have a higher chance of losing more if you don’t leave for the day.
- Irrational reason for betting: Think about the reason why you are betting. If you are betting just for cruise, you won’t aim at making wins. Don’t bet just for fun; add some seriousness to it.
- Making too many wagers at a time: One or two bets at a time is enough. Try not to make too many wagers at once; it will divide your attention.
Strategies to Avoid Common Betting Mistakes
Now that you have figured and accepted that you are making either spread betting mistakes or matched betting mistakes, there are few ways you can combat such; here are some:
- Develop a betting strategy: It will save you the temptation to wager at all times. Maybe yours is to only make wagers twice in a week, restricting the game you choose. Study yourself and develop what works for you.
- Accept your losses: It might prove difficult, but you have to learn to accept your losses. It will help you to avoid chasing losses. Once you have a losing day, quit it, and move on with your daily activities.
- Pay yourself: It cannot be overemphasized, but you have to pay yourself. Cash-out your wins, don’t be greedy.
We all are humans; we make mistakes. A lot of bettors make different spread betting mistakes and matched betting mistakes. The point is to make it minimal. If you find yourself in any of the mistakes, don’t beat yourself up about it. You might not stop all of a sudden; it might take some time!