If there is one thing that a lot of people get wrong in sports betting, is that it is an easy thing to win on. Sure, just like all other forms of gambling, luck plays a huge factor in making it big on sports betting. However, there are certain honest ways that you can do to increase your chances of winning, not entirely ensuring it. In the same way, there are also things that you should avoid doing at all cost, as these mistakes will ensure that you lose money in your bets–and you would not want that now, would you?
As a newbie in sports betting, there are several things you need to prepare, and of these things would be choosing the online sportsbook to which you would be through. While that is just as important, you should also be aware of the five worst online betting mistakes that newbies like you often fall into doing–which causes a lot of money to be lost. Here are some of them.
Not setting a budget
The worst thing that could happen to any bettor is to lose all of their money. Losing is not a new thing, mind you, but losing everything? That should not happen. From time to time, you should understand that you would lose one or two bets or even some. Some people even say that the frequency of you losing is bigger than that of you winning a bet.
However, to lose all of your money means that you have not planned this out. And perhaps, you may not have a bankroll set only for your betting activities. After all, this is the purpose of a bankroll–to have money set aside so you won’t end up using “grocery money.” your bankroll, simply put, is money you can afford to lose.
Running in blind
In a war, you don’t run through a battlefield without knowing anything about the opponent. In an examination, you don’t go in without having the faintest idea what would the exam be about. In betting, you do not go throwing your money in wagers without knowing what you are doing.
Running in blind, or not doing any form of research, is virtually the same as planning to lose all of your money. So, before you download an app or sign up for a site, make sure that you do your homework–research, read about how the market and the odds work, and learn aloof the basics that you should before going for the real thing.
Not having the right expectations
A lot of people think that betting is equal to huge money. They have the huge misconception that doing this is like doing a get rich quick scheme. However, it’s not. Although you can win big in just one game and there are those who have made a huge fortune by just placing and winning on one bet, it does not happen every day to everyone.
So, learn to align your expectations properly. Although you can make money out of betting–and even good amounts, if you are lucky enough–the realistic expectation is that you are to dish out money before you can even begin to expect to take home some winnings.
Chasing your losses
A lot of bettors–both newbies and veterans alike–believe in what they call “the due.” This concept says that if you are on a losing streak, you should begin to win and “get back” at some point.
However, this is not true–or at least, not in the way that they want to believe it. Although you would really win at some point, a losing streak is not a guarantee of a win at any point after. No matter how many times you have lost prior, your winning would still depend on luck, the odds, and how strategic your bet was.