Did you know that gambling began thousands of years ago in ancient Egypt, Rome, and China? Gambling is one of the most popular pastimes in the world. Sports betting is especially popular and enjoyable.
But if you’re a new sports bettor, you’re going to make a lot of sports bettor mistakes. Too many mistakes can leave you with an empty wallet and a sick feeling in your stomach. But how can you avoid the most common sports betting mistakes?
How can you make a killing with your bets instead? Keep reading and learn more about where you should start below.
- Overestimating Your Betting Skills
If you’re new to sports betting, you shouldn’t act like you’re a pro. Many people make this mistake because they want to be seen as knowledgeable and impressive. You may genuinely think that your betting skills are above average, but is this true?
Legal sports betting will show you your real skill level if you try to soar above it. If you don’t know the first thing about betting on baseball or any other sport, it will show. You will likely lose your first few sports bets, but that’s okay.
Every new bettor will lose plenty of games at first. This is how you learn what not to do when betting on teams or players. This is also how you learn how to come up with a sports betting strategy.
You will also learn more about the basics like sportsbook odds and lines. The more you learn, the better your gambling skills will become. You can save yourself a lot of trouble by keeping yourself from thinking that your betting skills are better than they are.
Accepting that you are a new bettor will give you a good foundation. You can then work up from there.
- Betting Too Much for Your Budget
Many new players get too overzealous about their bets. You might think your next bet is going to be the best thing ever. You might think that you are going to win 100 percent.
You might get so confident that you bet far more than you usually would. And then you lose the bet and lose all that money. It is best to stay within your budget when betting.
This is hard to do when you get excited. You might be thinking about all the money you can win if you bet a little bit higher. But you shouldn’t risk money that you can’t afford to lose.
Losing such a large quantity of money will make you regret your decision. It may leave you with a pit in your stomach. You can avoid this terrible feeling by being safer with your bets.
- Going on a Betting Streak After a Big Loss
Some people get discouraged after losing a large sum of money. Others get reinvigorated and start betting even more. But this is not a good idea.
You might feel that you’re already this far in, so why not keep going? There might be a chance that you can win back all that money you lost, right? Not necessarily.
While you could keep going and entertain the thought of winning, it is better to know your limits. Going on a betting streak after a big loss isn’t going to solve anything.
It will most likely make things worse and you’ll lose more money.
- Letting Your Emotions Get in the Way
Some people have very strong opinions about certain sports teams. They might be die-hard fans of a particular football team and always bet on them. Or they might have specific CBB picks that they refuse to deviate from.
But letting your emotions get in the way isn’t going to help you become a pro sports better. You will be more likely to lose if you make decisions with your heart. This is because gambling doesn’t work based on favorites.
You need to think about which team will be more likely to win (or lose). While you might like to bet on your favorite team, you might have better chances placing your bet elsewhere.
- Relying on Random Chance to Win a Bet
Some people don’t put any thought into their bets. They instead decide to wing it and let random chance do the heavy lifting for them. But this is not a good idea unless you’re prepared to lose.
Not putting any thought into your bets will make it more likely for you to lose. You should instead think about your chances of betting on a team. Examine how the teams are playing and which one might have a better chance.
This will help you place a good bet.
- Being Way Too Confident
Many bettors let their confidence get in the way of making good betting decisions. You may be sure that a team is going to win. You might not have anything to base that belief on, but you may feel sure about your choice.
This confidence will likely make you lose your bet. It is better to go into a bet with a level head. Think about things logically.
Which team is statistically more likely to win the game? What kind of bet will be most likely to land?
- Doing What Everyone Else Is Doing
It’s tempting to do what everyone else is doing. Suppose that everyone starts betting on the same team. There must be a reason for them to do that, so should you do the same thing?
Not necessarily. If everyone is betting on the same thing, there may be a chance that their bets will land, but this doesn’t always happen. You should examine the odds instead of following the crowd.
The crowd might be getting too confident rather than looking at the facts. Looking at the facts will put you a step ahead of the game.
- Thinking Too Much and Not Acting
Sometimes, you might feel that you are paralyzed by your thoughts when making a bet. You might wonder if you’re making the right decision. You might wonder if it’s better to change your bet.
You might wonder if it’s better not to bet at all. But you shouldn’t let your thoughts stop you from taking action. Thinking too much may make you lose your opportunity.
- Placing Too Many Bets at Once
Placing too many bets at once can get confusing and overwhelming. This is not something you should do if you are a new bettor. You will likely get overwhelmed and lose a large chunk of money.
Many experienced bettors don’t do this either. It is too risky and hard to keep track of what’s going on. It is better to stick with one bet at a time.
If you are getting the hang of things, two bets at a time may be good too.
- Having Unrealistic Expectations
Having unrealistic expectations won’t make you win a bet. Suppose you win three big bets in a row. You may feel that this is your lucky night and you’ll win the rest of the bets ahead of you.
But this is unrealistic. You are going to lose eventually, so you should stop when you’re ahead. That way, you can end the day on a positive note.
- Always Choosing Favorites or Underdogs
Don’t let your biases choose the bets for you. Always betting on favorites or underdogs won’t get you anywhere. It is better to examine what’s going on with the teams.
Who is in the lead? What players are on the teams? Underdogs are more likely to lose.
There’s no point in choosing an underdog team if they’re already very far behind. But favorites don’t always win either. This is why you have to think about what’s going on in a game before you place your bet.
- Not Knowing When to Back Out
Some bettors don’t know when to stop. They may keep digging themselves into a deeper hole until they don’t know how to get out. It is better to avoid this situation.
If you find that you keep losing, it would be a good idea to take a break. Try betting again another day when your head is clearer and your luck is better.
What Sports Bettor Mistakes Should You Avoid?
There are many sports bettor mistakes that people make, especially when they’re first starting out. If you have made any of these mistakes in the past, you now know to keep from doing them again.
Following these tips will make you a much better sports bettor. To learn more about it, check out the other content on our site.