5 Sports Betting Mistakes That Can Cost You Real Money
No one likes mistakes, especially mistakes that can cost them a lot of money. This is why people who are into sports betting are wary of making a wrong move that can ruin their bets. Making even the seemingly tiniest mistake can spell the difference between a huge win and a very painful loss. What’s worse is that every kind of a bettor is prone to making mistakes, no matter if you are a newbie or have been in this industry for quite some time already.
Before you go and check the latest sports lines
and start putting on your thinking that while reading the odds, here are some of the most common sports betting mistakes that you can be in danger of falling to--and how you can avoid them.
Betting only on the favorites
This is a simple one: some people, most of them newbies, assume that if a team is labeled as the “favorite,” then it is automatically the bet with the better value and better odds of winning. While that can sometimes be true, it is not the case most of the time.
The truth is that more often than not, the favorites and the underdog system are used by the bookies to level the betting quantities
. This is to ensure that they make a profit no matter what.
Overanalyzing the past season
Past games can offer a good insight into the play style of players and the whole team. However, some people tend to overvalue the information they can learn from previous games.
While their past performances can give you an idea of how they play in the field, do remember that each game and each season is unique. Rather than assuming they all perform the same as they did, it is a better analysis to focus on the talents of each team and how their coaching style makes use of these talents.
Betting as a fan
This is one of the most common sports betting mistakes
that can be seen not only on newbies but also from seasoned bettors. It is expected that most of us have a personal favorite, especially if you`re also a fan of the sport that you are betting on.
For some people, it can be too easy to just bet on your favorite teams and forget all the factors and betting strategies you have worked on learning. However, this would not bring any benefit to your bet, since your personal favorite may not hold good value for the current game.
Not checking your bankroll
Your bankroll is the lifeline of your entire betting career. Work on it well, and you would be able to make it big in no time. On the other hand, pay no attention to it for so long and you may find yourself digging an empty pocket.
Do not give in to huge best just because there is a supposed promise of a huge profit. Remember, a huge profit margin can also mean a huge loss if things go south. Instead of making one huge bet, why not make multiple smaller ones and spread your money across?
Always betting on a road team
A road team is a team that travels, thus the term for them, and does not play at home, or only in very rare instances. To the untrained eye, this may not pose any major difference at all. However, the factors surrounding a road team are something that can also affect the outcome of a game and can also be considered as a critical variable to the value of the team in the game.
For road teams that always travel around, there are several factors that you should always put into consideration before pouring all your money on them.