5 Typical Sports Betting Mistakes
Posted: July 7, 2020
Updated: July 7, 2020
Every second punter makes mistakes in sports betting
Learn how to pick the best odds and how much to bet
Pick reliable sportsbooks only for wagering on sports
Like any other activity, betting on sports requires particular knowledge. Lack of it may result in both new and avid punters facing the same typical sports betting mistakes. We are going to reveal the most common reasons why punters lose more than win and what they should pay attention to at sportsbook sites.
No one is proof against making mistakes, especially in such a “game of chance” as sports betting. Even the most experienced punters do not always win money on odds, to say nothing about newcomers. However, you can still learn from their most common mistakes as it is always better to learn from others’ bad experiences, isn’t it? We have collected 5 most serious missteps punters usually do while betting – learn how to avoid them!
Learn about bet constructors to create your own odds at Bet365 and make money on them.
Betting on favorites as one of the typical sports betting mistakes
Probably, the most common mistake every punter does is betting on the team/athlete/event with the best odds. Sometimes it works, sometimes not, but usually, it leads to failure. Let’s see why you should not always bet on favorites with thee best odds if you aim to win lots of money at sportsbooks.
Firstly, remember that value is the most important thing in sports betting. It does not necessarily touch upon favorites; usually, it calculates the chances of winning of two football clubs playing in this or that competition. Bet365 Sportsbook and other betting sites usually have an algorithm that considers all stats, overviews, reviews, predictions, etc, to form the odds. Even the field matters as chances on, let’s say, Liverpool to win the EPL match at Anfield will be always higher than to win any away match. However, the opposite outcome should not be underestimated too, as betting on less popular variants can bring much higher income.
Managing your budget matters in sports betting
Wrong bankroll management has always been one of the most typical sports betting mistakes. In addition, it is one of the most serious mistakes punters can do as it touches upon their own money. On the contrary, effective budget management will help to lose less on failed bets and earn on the winning ones.
Managing your bankroll is easy. All you have to do is setting up your budget that you are ready to spend on betting only. It will form a bankroll, which has to stay separate from everyday money, savings, etc. Then, define how much you will bet on each event regardless of its winning chances. It will prevent you from betting more than needed on seemingly profitable matches as benefits may be delusive. Finally, you will see how much money you usually win and lose – it will help you to manage your betting habits.
Ignoring betting strategies affects outcomes badly
One should not underestimate the value of betting strategies. Blind or irresponsible betting is not the most reliable way to multiply your income – that’s why following some smart tips can be useful. Check the most popular betting strategies and you will see that they really work!
There are many various betting strategies. The simplest include betting on underdogs, betting on the basis of your interests, but this isn’t it. There are many advanced strategies like over-under or 2-3 goals that have rare but useful tips on how to bet & win. If you bet on sports not just for fun, you should read them. Also, do not forget about Fibonacci & Proportional betting strategies as one of the most popular nowadays. Surely, memorizing them is not as simple as you think, but there is no gain without pain.
Using wrong sportsbook sites may be the reason
Picking the right sportsbooks also matters if you want to avoid typical sports betting mistakes. Unfortunately, there are betting sites that are either scammers or provide wrong odds to make a profit from punters. Therefore, use online sportsbooks in the UK to wager on all kinds of sports – from world football competitions to horse racing. All sportsbooks from the list have detailed reviews pointing on strong sides and drawbacks, so no pitfalls await you.
In particular, Bet365 is the highest-rated betting site in the UK with the widest variety of betting options. Here you can bet on sports, politics, celebrities, e-games, etc. Various deposit and withdrawing methods are also available as well as different currencies for bettors from all around the world.
Do not always support your favorites as you will lose
Finally, the most surprising betting mistake is supporting your favorites. Betting on a favorite football club, tennis player or horse seems reasonable at a first glance as it highlights your preferences. Punters show their dedication to certain sports star not only verbally, but also financially. It speaks for being a truly loyal fan, but is it good for you in terms of betting? No.
Such an approach does not usually work in real life and is one of the typical sports betting mistakes. The reason is bias as the biggest fans will subconsciously support their favorite athletes or clubs regardless of objective statistics, comments, etc. Therefore, do not always bet on your favorites – check the latest data, stats, and reviews to evaluate every team’s chances to win the next match and only then place your bet.
Read how to bet on horse racing in the UK including trotting, flat & jump racing, and other popular types of this sport.