Betting Mistakes – Top Common Mistakes to Avoid in Betting [2024]
Before getting started, we have to ask you (and you have to promise there’s going to be an honest answer): what’s your goal when you’re betting? That’s right. What is your main intention before placing your bet? Are you doing it just for fun, for adrenaline, or to earn some nice money? We’d like to know that your answer involves money because that should always be the main goal of a punter. Even if gamblers keep reminding themselves about this goal, most of them are prone to rookie mistakes. Those types of silly betting mistakes that should have never happened. They do happen on a regular basis, drastically affecting the bankroll.
Let’s find out together which are the top 10 most common beginner betting mistakes in betting and how to successfully avoid each one of them.
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- Chasing losses
This betting mistake will single-handedly lead you to a certain loss. This mistake is so hard to avoid, that not only beginners, but many professional punters often fall for it. If you’re on a losing streak, just stop. Take a break, analyze the situation and smartly reconsider your next decisions. Nobody is going to compel you to instantly recover your losses. In these high-tension moments, loss after loss, guess what – you will be prone to making bad decisions, that will lead to more losses.
- Poor money management
This is another very common mistake, but certainly, one that professional gamblers don’t fall for. To raise your winning percentages, you need to know how to manage your bankroll. Set your betting limits, precisely calculate the stakes, and the results will come.
- Betting on your club
Bet with your brain, not with your heart. If you are a football punter, chances are that you are a fiery supporter of a certain team. Sure, you may know everything that happens behind the curtains of your club, the situation of every player, and stuff like this. But, inevitably, your betting decision will be influenced by your feelings. It’s very hard to control your feelings when you’re backing your team on a ticket, too. Therefore, our best advice is: don’t do it. Leaving emotions aside is better.
- One bet, one huge win
A lot of beginners are hoping to grab the ‘jackpot’ on their very first betting ticket, or their second, or their third…, and the count goes on because it never happens. This betting style refers to placing small or minimum stakes on very unlikely outcomes. Whether we’re talking about accumulators or single bets at huge odds (e.g. 60/1), punters will always hope that they will be the lucky, rich winners, but they will (almost) never will be.
- Placing considerable stakes on bets “just for fun”
POV: You’re watching the UEFA Champions League final at the pub with your friends and you feel the need to spice things up a bit. Except that it won’t be just “a bit” – people love to place large amounts of money for fun or adrenaline, especially after a couple of pints. Don’t do this – enjoy the beers and the game with your friends
- Overbetting
Betting on a daily basis is not wrong, especially if you have deeply analyzed the matches before placing the bets. But many punters bet on almost everything. Showing a huge lack of self-discipline, bettors will often not stop at betting on a few, selected matches, when the betting offer is comprehensive. The statistics show that only 28% of all bettors take the monthly profit. Out of this 28%:
- 32% of them bet between 10 to 50 times
- 26% of them bet between 50 to 100 times
- 25% of them bet between 100 to 1,000 times
- 17% of them bet over 1,000 times
What do these statistics show? That you should wisely analyze the most important games of the day, instead of brainlessly betting on every event in the offer.
- Betting on unfamiliar sports
Is the betting offer poor today? Did all the most important football leagues take a break? Then you should, too. There are days when the betting offer only displays sports such as Polo, Golf, Cricket, Table tennis. If you feel the urge to bet, but you’re a football bettor, you should just take a break in these situations. Betting on unfamiliar sports without any research or even knowing the rules will lead you to inevitable losses.
- Getting greedy
Chasing huge wins will often leave you with nothing in your pocket. Let’s suppose that you’re building an accumulator with four events, but adding a fifth event will considerably enlarge the profit amounts. You see the opportunity, you’re not that sure about the fifth event, but you will still add it to the accumulator because the winning amount sounds juicy. You checked the first four events, but a last-minute equalizer at the fifth event messes up with your accumulator. Regrets are big, but you cannot go back in time. The betting mistake has been made, just because of being too greedy.
- Overreacting to new trends
You’ve got your own solid, old-school betting strategies that work, but suddenly, a new revolutionary strategy that promises to outperform the rest appears in your betting groups. People are falling for it, place high stakes, but nothing good happens. Sometimes, new doesn’t mean better. Stay loyal to your own strategies and, if you have to test new ones, do it without real money in the first instance.
- Falling for popular bets
Sometimes, betting on the most popular events of the day is not the wisest decision. The most popular games, such as the UEFA Champions League final or the FIFA World Cup final will get a lot of attention and many punters will bet on it. Even if it seems that everyone around you bets considerable stakes on that event just because it is important, it doesn’t mean you should, too. Do your research first and take the decision afterward.
