What’s your main goal before you place a bet? To simply have some fun, earn some money or have a long-term profit out of it? Even astute professionals started betting as a pastime while there are thousands of ordinary punters who place bets for fun or to spice up a match, without paying attention to betting strategies or staking plans. Regardless, whoever deals with betting on a regular basis, has to develop his way of thinking, choose the right style of play and, of course, learn from his mistakes. After all a mistake made today is a lesson learned tomorrow. Let’s single out the 10 most common rookie punter mistakes, that will help not only apprentice punters, but even more experienced bettors.
Get rich with one bet
This style of play can prove to be detrimental to your bankroll. If you place bets at the minimum possible amount with the target of winning a small fortune, it means you seek out extremely difficult aspects to be confirmed, such as huge upsets, unpredictable correct scores, or place massive accas. Remember, your actual chances of winning a four-match combo is less than 1.5% so you need a minimum payout of 70/1 to gain a profit in the long run.
Placing large amounts on "fun bets"
This is something nearly all bettors do, placing a few bets for fun. The exact reason is somewhat unclear: to spice up an evening TV match, have a good time with friends at home or colleagues at the nearest pub or simply due to a random inspiration.
This has nothing to do with professional betting
Many punters get sucked in by a match's atmosphere: Everyone has a prediction they're ready to "bet the farm" on and everyone will make extravagant plans on how they'll spend their winnings. In the vast majority of cases, you'll enjoy the suspense and emotions associated with expecting a win and will end up losing your bankroll. If you bet a couple of Euros, that’s OK, but you shouldn't go ahead with spending all your money.
Backing your club
Every football bettor supports a club as we all started watching football well before we placed our first ever wager. You have to be honest and ask yourself: Have you ever bet against your team? If the answer is yes, you might be on the right track to becoming a professional bettor. If not, you’re kindly requested to start being less biased towards your club. Unless you can control your feelings when your team is playing then you should eliminate every though associated with betting on them. Obviously, some times your predictions will be confirmed but if you think your club can win each and every match then you're putting emotions before logic.
Bet with the pros
This is actually not only a rookie punter mistake but one professional bettors also occasionally fall for. You have to admit that losing is as common as winning in betting, if not more so. If you lose, you're not suddenly under the gun to get your money back. This does not apply only after you've lost a couple of matches in a row, but even within a week. You must simply admin you've lost and keep your cool. You don’t have to immediately find a match to chase your losses and by all means you must not place a bet on a match you would pass under normal circumstances. In high-tension moments, like losing a match due to a late goal or a wrong referee decision, you're advised to take a break and calm down.
Many professional bettors place their wagers on a daily basis, that’s a fact. However, there's a clear difference between making calculated choices and betting on every possible match. A vast quantity of bets is not a sign of professionalism, but the exact opposite, a lack of self-discipline. Don’t overdo it by betting all the time, as you increase the chances of nibbling your bankroll. To put it into numbers, it has been estimated that 27% of all bettors are profitable in a month's time. Out of them:
- 32% of them bet between 10 to 50 times
- 26% of them bet between 50 to 100 times
- 25% of them bet between 100 to 1,000 times
- 17% of them bet over 1,000 times
Your bets should be placed according to your play style and not simply because you feel like wagering. If you’re dedicating endless hours analyzing, you are bound to find various bets that may appear as if they are valuable. Careful analysis and documentation will show you that appearances can be deceiving in sports betting as well.
Poor money management
This is a common mistake among inexperienced bettors. Money management is as important as your winning percentage. There’s no use in having a tremendous series of wins if you don’t calculate your stake, as you’ll probably fall for increasing it after losing a series of bets. Always have a clear staking plan in mind. If you don’t like betting on flat stakes (the same amount of money), set your own limits on what a full stake, half stake, or fun bet should be. Once you set the limits, make sure to not exceed them.
A friend of yours is telling you to bet on a water polo “sure win”. The problem is, you can not remember when was the last time you watched water polo, not to mention placing a wager on it. No matter how tempting it may sound, you should probably ignore his advice. It's the same thing when you have an uncontrolled urge for betting, without caring about the sport or league. If you are familiar with football, but can't find any soccer matches, why should it be logical to turn to table tennis? You have to fight this feeling, as it is not only bound to cost money but may also be a sign of becoming addicted. If you’d like to widen your betting options, choose a sport and spend some time watching and understanding it before you place your first bet.
Overreacting to recent trends
There's a false belief among newcomers that a brand new strategy will always outperform an old one. This is derived from the fact that bookies tend to adapt to elaborate staking plans or arbitrage bettors. Take a note, check the strategy by staking small amounts, but don’t abandon your entire betting philosophy if you find something new. There’s no magic recipe in betting. Although some aspects or new strategies might be helpful το you, if you follow them without having observed clear results yourself you’ll end up losing your money.
Betting on popular choices
A common mistake, even professionals make is when they overreact to rapid odds movements. When it comes to betting, the majority is not always right, as bookies would be bust in a few days time. All you’d have to do is watch the bets picked by the majority of punters and follow them. No popular bet is always right, indeed when you look only at high staked matches around the world for a while, you’ll note that the majority of them is losing ones, or the odds offered won't give you a satisfactory profit. Stop betting on popular choices just because they’re popular. Develop your own research patterns and only bet along with the majority if you share the same opinion.
How many times has a last minute supposed-favorite been lost and cost you a massive win on an acca? If you have never experienced this, you’re either lucky or really smart when it comes to betting. Never let your choices be influenced by potential profit amounts. This is a long time bookie trick, trying to push you to add more matches to your parlay, so you will earn more money. Unfortunately, 9 times out of 10 you end up regretting adding a choice, not to mention those times when it's the only not confirmed on your accumulator. Once you’ve made your choice, stick to it. Don’t get greedy, or you’ll significantly lower your profit in the long run.
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