10 Most Common Sports Betting Mistakes (Sports Betting Mistakes To Avoid In Order To Make Profits)

10 Most Common Sports Betting Mistakes (Sports Betting Mistakes To Avoid In Order To Make Profits)

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Here are some common mistakes that sports bettors make.
1. Having Unrealistic Expectations
The vast majority of people will lose more money than they make with sports betting. Yet so many people go into this believing they’ll be the one to break the jinx. Keep in mind that even the most experienced sports bettors are only looking to win about 55% of their picks against the spread and feel really good about that. So if you’re planning on spending more time on sports betting, then keep your hype in check and you’ll have a clearer mind to make better decisions.
2. Betting Too Much
If you try to use sports betting as a get rich quick scheme, you’re overwhelmingly more likely to find yourself losing everything quickly. With that said, do not put more money into your bankroll than you are both willing and financially comfortable losing.
If you’re diligent and disciplined you can indeed make some money with your wagers, but it’s not something that happens overnight.
3. Neglecting Bankroll Management
This could very well be one of the most important errors to avoid. Even the best of sports forecasters can end up losing a lot of money if they do not keep track of how they’re wagering from one bet to another. You must remain disciplined at all times.
You must always have a clear staking plan in mind.
4. Chasing Losses
Chasing losses will likely happen to anyone at some point in their sports betting history, but avoiding it as much as possible will save you plenty of heartaches. You must simply admit you've lost and keep your cool. You don’t have to immediately find a match to chase your losses and by all means, you must not place a bet on a match you would pass under normal circumstances. In high-tension moments, like losing a match due to a late goal or a wrong referee decision, you're advised to take a break and calm down.
5. Blaming Luck
Luck indeed has its role in sports betting. Every now and then, something extremely unlikely is going to happen that may cause you to win or lose a wager. However, it is part of our natural bias to explain away responsibility for negative results. Blaming luck for your losing picks and taking full credit for your winning picks, creates a feedback loop that prevents you from evolving into a seasoned sports bettor. It’s important to look at your losing bets and figure out what went wrong and if there was something you missed when analyzing that particular game. Additionally, by tracking your wins and losses you can go back and see if there are any particular negative trends you can correct.
6. Betting Every Game
Some people may get the idea of betting on every game to reduce variance. They may believe that they’re good enough to win 55% of picks against the spread and by doing so they’ll make plenty of profit. However, this is just not the case. Value is king in sports betting and if you’re betting every game then you’re overlooking which plays are going to be a value.
7.Being Short-Sighted
It’s easy to get caught in the old adage “what have you done for me lately.” This is a dangerous thought process to hold with sports betting though. Good teams have off weeks, so don’t be scared off by a team who has an off week or two, especially if they’ve already proven they are a competitive team for the current year or season.
In any sport, the best teams do not win every game. So do not take one loss or two as a turning point for the worse.
8. Not Shopping Lines/Odds
If you’re not looking through at least a few sportsbooks before placing a wager, then you are literally leaving money at the table. While generally speaking, most sportsbooks will have very similar odds and lines, they do tend to vary. Have at least a few sportsbooks at your disposal and place your wages wherever you can get the best odds or the best line.
9. BUI “Betting Under the Influence”
Betting and alcohol are a bad combination in any circumstance. Why do you think casinos give out free booze at the slots and card tables, they know you’ll make poor decisions with some alcohol in you, and they’ll make way more from you on those bad decisions than they would be having you pay for those drinks.
10. Betting On Your Favourite Team
Betting on your favorite teams or players is one of the biggest traps that some bettors fall into. Unless you can control your feelings when your team is playing then you should eliminate every thought associated with betting on them. Obviously, sometimes your predictions will be confirmed but if you think your club can win every match then you're putting emotions before logic.
There is no room for personal bias or favoritism if you’re serious about making money betting on your favorite sports.

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