8 Mistakes That Will Bring You On Your Knees
Avoiding common pitfalls is the most direct approach to accumulating a bankroll.
All of us make mistakes at one point or another, even the best. However, when there is money staked at the table, mistakes can be costly. The best you can do in case of a stupid mistake is to live on and try learning from it. Otherwise you are bound to repeat the mistake time and again.
This article looks at the most common mistakes bettors make. I will also give you some tips to help you avoid such pitfalls.
It is a major problem for beginners in particular, plus they don’t really get what they are doing wrong. There are so many betting markets that you can get lost, and that is why this mistake is so easy to make.
Most bookmakers offer a wide array of events with hundreds of possible betting opportunities so right at the start everyone falls into this trap. A much better approach is to place only those few wagers which you have thought through, analysed thoroughly and found value in.
You Let Your Heart Take Over Your Head
This is another mistake many bettors make. It is easier to bet on what you want to happen instead of what you think you will happen.
A large number of people lose their money simply because they place wagers on their favourite clubs or players without being realistic whether that makes sense or not.
There is no room for affection and attraction when it comes to winning money so you need to be absolutely objective.
Improve your emotional control and discipline with this article.
This is one of the most destructive mistakes you can make not only in sports betting but in any form of gambling. Getting into a series of losses has been a reason for the failure of a large number of bettors.
Worst of all, when the red mist descends, it is easier to make that mistake. When you have a run of bad luck and everything is slipping away in the last minute or in a most absurd way, it is very difficult to remain calm.
REMEMBER: increasing every subsequent wager and chasing your losses is catastrophic and sooner or later will lead to bankruptcy.
Such situations require you to remain calm and stop betting for a certain period of time. Alternatively, you might reduce the amounts you stake dramatically so as to preserve your bankroll intact until the stroke of bad luck is over.
You Blame Bad Luck
Just a couple of lines above I mentioned it is natural to be unlucky from time to time. Even the best tipsters have periods when, for one reason or another, they fail to make a winning selection even though their analysis is perfect.
So you needn’t worry if your results don’t live up to your expectations. Luck plays a role in betting and if it sometimes isn’t on your side, be aware that it is only temporarily. Hence, keep looking at the big picture. As long as you do it right, you are ultimately going to win.
Keep in mind that losing streaks are not always due to bad luck. Sometimes they can come as a result of poor judgement. You should identify the reason for your loss after each failure.
You Are Greedy
Greed in sports betting might take several forms but it always leads to problems. Greed causes you to stake large amounts instead of sticking to the rules of bankroll management, and that leads to bankruptcy.
The same goes for placing wagers on high odds as well as using systems based on acca and multiple selections. Don’t be tempted by the opportunity to make a lot of money quickly.
If your primary motivation is greed and your decisions are only based on the amount you might win, it is almost 100% likely you are going to lose in the long term. The most successful bettors build up their bankrolls slowly and gradually, without putting them at risk.
You Are Lazy
This one is a favourite. More or less it is the same as being greedy; indeed, those two go hand in hand. It takes time and efforts before you start making money from sports betting and unless you are prepared to put in what it takes, you cannot expect to start winning.
Of course, that doesn’t mean spending hours analysing every single bet you will place. Sometimes you will be able to spot an opportunity without having spent a couple of hours searching on your computer. Even better, at times your instinct might be enough to help you make the right choice.
The only way to be snatching good opportunities is studying the different markets and doing thorough research when necessary.
You Are Not Familiar with the Sport
You don’t have to be an expert in every sport you bet on but you should have at least some basic understanding of that sport and its rules. If you don’t know the sport, it is highly unlikely that you will be making money betting on it.
This mistake is similar to betting in excess. In order to avoid it, place a wager only when you have a good reason to do so. It is hard to make a good selection in a sport you know nothing about as you lack the knowledge to make an informed choice.
You Bet When Not in Your Right Mind
The easiest way to blow your entire bankroll is to place a bet when you are as drunk as a skunk. When you are under the influence of alcohol, illness, drugs, or you are annoyed, etc., your brain switches into a completely different mode and betting in such state of mind could be disastrous for your money. The decisions you take will be far from rational and won’t be based on proper analysis.
One of the first steps you need to make is try to steer as clear of these pitfalls as possible. It is unrealistic to think you could avoid them but just don’t get too stressed out when you fall into one of these traps.
Analyse your mistakes and try learning from them as that is the way to develop the skills necessary to protect yourself from major mistakes in the future.