The ultimate wish of every gambler is indeed to smash the bookie and smile all the way to the bank. However, bettors make mistakes and end up losing a large amount of money. If you have been losing money and you don’t know the reason, we are here to help. Specifically, we are here to uncover the sports betting mistakes you could be making without knowing. We hope you will try to avoid them at all costs in the future. They include:
1. Don’t Chase your Losses
The worst mistake bettors make is chasing their losses. Well, you don’t have to place more bets in order to recover your money. The best thing to do is to abandon the current betting strategy and adopt a new one. When you chase your losses using the same betting strategy, the chances are that you will end up losing more. This has serious effects as you may end up sinking into depression. You can also take a break from betting if you have been losing consecutively. When you do that, you will have enough time to restructure your betting strategy.
2. Avoid Unregulated Bookmakers
Registering a gaming account with unregulated bookmakers is another serious sports betting mistakes bettors make. When you join unregulated bookies, there are chances that you be conned your hard-earned money. To avoid this, you can first check whether the bookie is licensed or not. For instance, you can check licenses such as MGA, Curacao eGaming, and the UK Gambling Commission. You can also check what existing players say about the bookmaker. If they talk positively about the site, then you can sign-up and start your betting journey.
3. Avoid Illegitimate Arbitrage Betting Sites
The online gambling industry is flooded with hundreds of arbitrage betting sites. Most of the sites, however, are illegitimate. They will ask you to pay in order to get sure bets, but they will not hold the end of their deal. Our advice to you is that you join legitimate betting sites, and you won’t regret it. One good reason you should join a legitimate site is that you will get free sure bets for a couple of days. You will also enjoy constant discounts as well as thousands of sure bets opportunities.
4. Don’t Place Multiple Bets
There are bettors who place a long multibet in order to win big at a go. This is a big mistake, and you should stop it right away. The probability of losing a multibet is very high. Instead of such bets, you should place a single bet or a multibet of at most 4 games. That way, the chances of losing are minimal. If you have to place a long multibet, make sure you know what you are doing. The bets shouldn’t have high risks.
5. Don’t Back your Team
Your emotions shouldn’t guide you when placing bets. If your favorite team is playing, you should try as much as possible not to back it. Instead, you should bet on a team based on the performance and other statistics. This is because you may love a team, but the chances for that team to win are minimal. If you can’t avoid your team, then you should stay away from bets that involve that particular team.
6. Avoid Betting on Sports you are not familiar with
The general rule in sports betting is that is you should always bet on sports you are familiar with. If you are not familiar with a certain sport, you should stay away from it. For instance, if you know more about Football, your bets should involve Football. When you do that, your chances of losing will be minimal. If you have to bet on a sport you don’t know more about it, you should do a bit of research and learn a thing or two.
Sports betting can be your full-time business. However, it can always be that when you do it the right away. And to do it the right away, you need to avoid some petty mistakes. You need to avoid mistakes such as backing your team and relying on illegitimate arbitrage betting sites. Still, you need to avoid unregulated bookmakers as well as betting on sports you are not familiar with. Once you avoid all these mistakes, you will be smiling all the way to the bank.