Theoretically, sports betting appears easy but can be as complex as picking the perfect wedding cake.
In this guide we take a closer look at the common betting mistakes newbie sports bettors make.
If the average Joe was successful in sports betting, sportsbooks would slowly fade into oblivion.
While mistakes can happen to anyone, it is best to learn from your mistakes. All newbies, first and foremost, must graduate from the school of hard knocks.
Learn as much as you can about the sports betting world. After that, decide on which sport you want to bet on.
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Changing Unit Size
A mistake new sports bettors make is to change their betting size when they hit a winning streak.
Similarly, when bettors have a continuous bad run, they try to compensate in two ways.
Sports bettors often increase their bet size in an attempt to win back their losses, or they stop betting altogether.
Both approaches will cause your poor bankroll to go up like a piece of paper in a bonfire. Bet a standard amount with a risk factor of 1-5% of your bankroll per game.
This, of course, depends on how much money you want to risk betting on sports. This protects you from losing all your money during a bad streak. Moreover, it provides you with a positive Return on Investment (ROI).
Exaggerating Outcomes Based On Recent Trends
Inexperienced sports bettors make assumptions about the outcome of a game based on a team’s current performance.
While this is correct, sports betting tends to be more gray than simply black or white.
Generally, gamblers assume the results of a game based on the outcome of the team’s last five matches.
If that team has been on a five-match winning streak, amateur bettors believe luck will find them.
Likewise, teams that have recently experienced loss tend to be underrated by new sports bettors.
Always avoid trends and figures irrelevant to the sports betting industry should.
Bettors should investigate a larger sample size to accurately represent a team’s performance before placing their bets.
Making Too Many Plays
There is nothing wrong with exploring your betting options when you start with sports betting.
Still, it’s best not to become overly excited. Avoid trying out every system available at your disposal. The moral of the story is keep your plays down to a minimum.
This may lead to you placing multiple bets in one night, with disastrous effects.
It is more significant for a bettor to understand why lines move rather than track line movements and betting signals.
Yes, some line movements are significant, but they may be extraneous to the bettor. Let’s refer to this as ‘white noise’; it’s there and irrelevant.
Only play at the top-rated online sportsbooks to improve your odds at winning. Limiting yourself to bets on the most promising games of the day is preferable to avoid significant losses.
Not Browsing The Best Lines
Most newbies only focus on one sportsbook provider. Conversely, expert sports bettors have many bookies catering to their needs.
We recommend having at least three different online sportsbook accounts. There are accounts for square, sharp, and reduced juice books available. They focus on underdog lines, favorite play lines, and many more offers.
Allowing yourself to play all three types of sportsbooks means you will regularly earn 0.5-point better than the market average.
How’s that for increasing your winning percentage in the long haul?
Disregarding Sharp Action
To improve odds, try betting against the consensus. Teams with a smaller number of bets usually offer better rewards.
Humans instinctively support winners or favorites and thus underestimate the value of home base advantage in matches. This also coincides strongly with never bet like a fan.
Pay attention to sharp action and select bets similar to more experienced bettors with a lengthy track record of success.
A helpful method is to observe Reverse Line Movement to determine how much money is on a particular game’s side.
Avoid Unnecessary Mistakes And Play Like A Pro
When it comes to sports betting, leave emotions out of your decision-making process.
Avoid going to extremes by adhering to a strict betting plan and money management strategy.
If you are curious about other common misconceptions to steer clear of, make sure to visit our link.
Circumventing these errors in sports betting can be a great way to merge your favorite hobby with profitability.